Shimon Shkury, Massey Knakal Realty Services

Contact Name : Shimon Shkury Company Name : Massey Knakal Realty Services Email : [email protected] Phone : 2126607729 Fax : 2126960333 Address, City, State : 275 Madison Avenue, 3rd Floor, NY NY 10016 What was your most notable project, deal or transaction in 2010? This is a tough call as we worked on several interesting transactions in 2010, including the sale of the retail condominium at The Georgica on the Upper East Side, a portfolio consisting of 230 units subject to tax credit regulations for an affordable housing operator, and a portfolio of properties located throughout Manhattan and The Bronx for an institutional client. What predictions do you have for commercial real estate in 2011? Sales volume will continue to increase, a greater portion of which will consist of distressed assets and note sales. Interest rates should remain on the low end given financial market troubles abroad and elevated unemployment, and this will continue to buoy multifamily asset prices. Sellers will continue to have an edge in pricing over buyers, but less so than 2010 as more product comes to market.