Robert Knakal is the chairman at Massey Knakal Realty Services, New York, N.Y.
What was one of your corporate or career highlights of the decade?
"While my 1,000th sale was certainly a highlight of the 2000s, as an intermediary, the next transaction is always the most important one. That being said, I will always remember the 2000s for the amazing roller coaster ride that the decade was. We began in recession, had the greatest real estate bull market ever seen and then crashed. I'm not surprised that amusement park rides make people nauseous. It was a great reminder of the old real estate adage, 'Leverage is great during good times and extremely punishing during bad times'."
When New York permanently adopted the 2% property tax cap more than a decade ago, many owners hoped it would finally end the relentless climb in tax bills. But in the last couple of years, that “cap” has started to look more like a speed bump. Property owners are seeing taxes increase even when an
In New York City’s competitive real estate market, particularly in prime neighborhoods like Midtown Manhattan, investors are constantly seeking new ways to unlock property value. One such strategy — often overlooked but
Many attorneys operating within the construction space are familiar with the provisions of New York Lien Law, which allow for the discharge of a Mechanic’s Lien in the event the lienor does not commence an action to enforce following the service of a “Section 59 Demand”.
The mayor of New York City holds significant influence over real estate policy — but not absolute legislative power. Here’s how it breaks down:
Formal Legislative Role
• Limited direct lawmaking power: The NYC Council is the primary
Active investors seeking rent-stabilized properties often gravitate toward buildings that have been held under long-term ownership — and for good reasons. These properties tend to be well-maintained, both physically and operationally, offering a level of stability