Let me know if you read this in Commercial Observer and what you think we will see. Here's the link to the article: https://lnkd.in/e8JrjjNt #bkrea #investmentsales #nycrealestate
"Put your space helmets on, it’s going to be a wild ride!” Here is our Chairman, CEO, and Founder Bob Knakal's latest article for Commercial Observer. In it, Bob shares what he thinks is going to to be the biggest selloff in New York City history. Read the entire story here: https://lnkd.in/egmxDhSU #bkrea #NYCRealEstate
Great read, Bob Knakal! I read the article earlier today. What stood out to me most were your stats on hotels. We are seeing hotel renovations and property conversions hitting wonderful highs around NYC. Hotels are volleying between each other to improve property amenities, rooms, and public spaces. We just secured a preconstruction contract for a luxury hotel with expansive plans to upgrade the entire property. Our construction activity has always been strong there, and it's not slowing down. Sonesta became more active a few years ago in NYC and acquired 4 properties as well: The James Hotel brand, The Benjamin, The Shelburne Hotel & Suites, the Gardens Suites Hotel, and the Fifty Hotel & Suites. I always enjoy your reads!
Same dynamic in play in silicon valley. But, large floorplate office building will be difficult to reposition. So, sell off may be even more drastic.
Read this in Commercial Observer
Some will be scared other will salivate, I'd prefer to be in the latter reaction
Very well said Bob! Sell-off, followed by an opportunity to create and execute a new vision for majority of these assets!! Value-add reinvention @ Val-Add Real Estate Partners
Knakal......Knows!
Very similar market dynamics occurring in Sydney, Australia. Thanks Bob
A great data-rich perspective, as always!
Founding Partner at Belkin Burden Goldman, LLP
8moBob, once again you “Knacked” it out of the park! When it comes to multifamily, both sellers and buyers should undertake expert due diligence. There’s a ton of misunderstanding, misinformation and suddenly missing records, all of which need to be thoroughly analyzed and addressed so that BOTH sellers and buyers accurately understand the value and potential liabilities pertaining to the property in question. @belkinburdengoldman LLP