Legendary New York broker Bob Knakal shares lessons from more than four decades shaping the city’s investment landscape. He discusses the founding of Massey Knakal, the power of specialization, and how zoning and policy continue to define opportunity. Knakal also explains why he’s integrating AI and data analysis into his brokerage, and why, despite political headwinds, he still believes you should never bet against New York.



Key Moments:

01:01 Meet Bob Knakal

03:24 The early days of Massey Knakal

04:50 Lessons learned and keys to success

08:14 The importance of market expertise

11:26 Founding BK Real Estate Advisors

13:14 Specialization and market changes

17:37 AI and technology in real estate

24:15 The unique challenges of the New York market

26:20 Current market cycles and trends

29:57 Impact of political changes on housing

32:42 Proposed solutions for housing issues

38:35 Future of New York real estate

Resources Mentioned:

Bob Knakal - https://www.linkedin.com/in/bobknakal/

BKREA - https://www.bkrea.com/

485-x Program - https://www.nyc.gov/site/hpd/services-and-information/tax-incentives-485-x.page

Major Capital Improvement program - https://www.nyc.gov/site/finance/property/landlords-mci.page

Individual Apartment Improvement program - https://hcr.ny.gov/apartment-iai-and-building-mci-improvements

Email us: altusresearch@altusgroup.com

Thanks for listening to the “CRE Exchange” podcast, powered by Altus Group. If you enjoyed this episode, please leave a review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.

#CRE #CommercialRealEstate #Property

What if the economy could sing? The CRE Exchange team explores what the Fed’s Beige Book, homebuilder sentiment, and recent banking data reveal about the broader economy, and how those trends ripple through commercial real estate. Our hosts, Omar Eltorai and Cole Perry, then turn to Peter Norman, Altus Group’s VP and Economic Strategist, for a deep dive into Canadian economic and CRE trends.

Key Moments:

• 01:34 Diving into the Fed Beige Book
• 02:21 Labor market and employment trends
• 03:30 Consumer spending and manufacturing Insights
• 07:25 Home Builder Confidence Index
• 10:43 Large Bank Credit Card and Mortgage Report
• 13:57 Manufacturing Business Outlook Survey
• 16:31 Non-Manufacturing Business Outlook Survey
• 20:52 Canadian CRE trends with Peter Norman
• 43:19 Upcoming events

Resources Mentioned:

Peter Norman – https://www.linkedin.com/in/peter-norman-20637043/

2025 Canada State of the Market webinar – https://www.altusgroup.com/webinars/canada-state-of-the-market/

Federal Reserve Beige Book - https://www.federalreserve.gov/monetarypolicy/publications/beige-book-default.htm

NAHB/Wells Fargo Housing Market Index - https://www.nahb.org/news-and-economics/housing-economics/indices/housing-market-index

ISM Manufacturing PMI - https://www.ismworld.org/supply-management-news-and-reports/reports/ism-pmi-reports/pmi/september/

Philadelphia Fed Large Bank Credit Card and Mortgage Data - https://www.philadelphiafed.org/surveys-and-data/large-bank-credit-card-and-mortgage-data

Philadelphia Fed Manufacturing Business Outlook Survey - https://www.philadelphiafed.org/surveys-and-data/regionaleconomy/manufacturing/business-outlook-survey

Philadelphia Fed Nonmanufacturing Business Outlook Survey - https://www.philadelphiafed.org/surveys-and-data/regionaleconomy/nonmanufacturing/business-outlook-survey

Email us: altusresearch@altusgroup.com

Thanks for listening to the “CRE Exchange” podcast, powered by Altus Group. If you enjoyed this episode, please leave a review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.

#CRE #CommercialRealEstate #Property

Even with the federal data slowdown, there are still alternative indicators that give us a view into what’s happening in the US economy and commercial real estate. In this episode, our hosts, Omar Eltorai and Cole Perry, lean on data from private providers and trade organizations to uncover what’s happening across consumers, small businesses, labor, and financial markets and what it all means for CRE. They’re joined by Andrew Pabon from Altus Group’s Valuation Advisory team to share insights on the CRE debt space.

Key Moments:

01:31 Labor market indicators

05:35 Consumer data insights

13:21 Financial market conditions and business data

17:01 Small business economic trends

20:51 CRE credit trends and debt market insights

28:41 Interview with Andrew Pabon on the US CRE debt landscape

41:24 Upcoming economic data releases

Resources Mentioned:

Andrew Pabon - https://www.linkedin.com/in/andrew-pabon-15a6976/

Altus Group CRE Debt Capital Markets Survey - https://www.altusgroup.com/featured-insights/cre-debt-capital-markets-survey-registration/

Alternative version of Kansas City Fed’s Labor Market Conditions Indicators (LMCI) - https://www.kansascityfed.org/research/economic-bulletin/an-alternative-version-of-the-kc-fed-lmci-suggests-little-change-in-the-labor-market-in-september/

University of Michigan Consumer Sentiment Index - https://www.sca.isr.umich.edu/

Federal Reserve G.19 Consumer Credit Report - https://www.federalreserve.gov/Releases/g19/current/

New York Fed Survey of Consumer Expectations - https://www.newyorkfed.org/microeconomics/sce#/

Chicago Fed's National Financial Conditions Index - https://www.chicagofed.org/research/data/nfci/current-data

NFIB Small Business Economic Trends report - https://www.nfib-sbet.org/MainPage.html

Email us: altusresearch@altusgroup.com

Thanks for listening to the “CRE Exchange” podcast, powered by Altus Group. If you enjoyed this episode, please leave a review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.

#CRE #CommercialRealEstate #Property