News: Brokerage

Meet the BMAR Member - Brumback of Massey Knakal

Karl Brumback joined the Northern Manhattan/Bronx division of Massey Knakak as a director of sales covering the North Bronx in December 2005. Since 2009, he has sold over 65 properties or notes with an aggre­gate consideration of over $180 million. In 2007, he received Massey Knakal's Richard Marcinko Award for Tenacity, Loyalty and Single-Mindedness of Purpose in the Pursuit of Excellence in the Northern Manhattan/Bronx/Westchester division. He graduated from the University of North Carolina with his bachelor of science degree in Chemistry and went on to the University of Virginia's Darden School to earn his MBA. After taking a real estate course taught by Massey Knakal founding partner Paul Massey, he bought and renovat­ed a townhouse on Manhattan's Upper West Side and subsequently purchased and renovated sev­eral more buildings. His passion for real estate led him to his current role at Massey Knakal. His prior professional career included management consulting, retail supply chain management, manufacturing operations and immunotoxicolgy research. He is involved in a variety of philanthropic and service endeavors with a focus on education, includ­ing serving on the University of North Carolina's board of visitors and the University of Virginia's NCOUR grant foundation. He is a board member of the Bronx/Northern Manhattan Association of Realtors and serves as VP of grant applications for Massey Knakal's Charitable Foundation. He enjoys fishing, golf, cooking and wing shooting and is an avid wine and cigar collector. He re­sides in the Upper West Side with his wife and three sons.
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REALM, DelShah Capital and A.M. Properties acquire 377,000 s/f CitySpire office condominium

Manhattan, NY REALM, in partnership with DelShah Capital and A.M. Properties, acquired  CitySpire, a 377,000 s/f office condominium comprising 24 floors within the 70-story tower at 156 W 56th St. in Midtown. Adjacent to Central Park with transit access and amenities, CitySpire is a Class A office asset located in one of the city’s most sought-after office corridors.
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A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

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