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Posted: December 26, 2011
Brock Emmetsberger of Massey Knakal Realty Services
What was your most notable project, deal or transaction of 2011?
The sale of 212 Eighth Ave. was one of the first Chelsea corner mixed-use properties to trade in the past couple of years. The transaction presented some unique scenarios, but we were able to source a deep pool of buyers hungry for this property type.
What was your greatest professional accomplishment in 2011?
I'm certainly happy that we covered all ends of the Chelsea sales market in 2011. From selling 30,000 s/f of office vacant office space at 137 West 25th St. to a recently renovated three-family building at 211 West 22nd St., we ran the full gamut of offerings achieving premium pricing for an array of property types.
What are your predictions for commercial real estate in 2012?
If the current market conditions hold, multifamily sales should remain red-hot. With Chelsea residential rents pushing well over $65/SF and banks lending at under 4%, this is a recipe for great activity.
What are your resolutions for 2012?
I'm getting married in early 2012, so with bachelor life behind me I will have no choice but to start eating my vegetables!
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