Commercial Hall of Famer Bob Knakal, the Senior Managing Director and Head of New York Private Capital Group at JLL, sits down with Noah Rosenblatt and John Walkup of UrbanDigs to talk NYC real estate. In a wide-ranging conversation, Bob shares his thoughts on the current commercial real estate market(s) in New York City, land values, cap rates, the importance of finding your specialty, the value of hard work, why offices foster learning, and much more. Bob's a living legend which makes this a must-listen!

Highlights:
0:46 - What's happening in the markets today?
6:45 - Becoming an expert
10:22 - Thoughts on the office sector
13:23 - Data and resources to track
15:09 - Framing challenges as opportunities
16:25 - It's ok to say no: advice on growing business
19:55 - Why smaller sites are more marketable
21:00 - Closing thoughts

Bob's page at JLL:
https://www.us.jll.com/en/people/bob-knakal

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Got questions? We got answers! Visit our forum:
https://www.urbandigs.com/forum/index.php?forums/main-forum.2/

Track the New York City real estate market with real-time data and charts:
https://www.urbandigs.com/

Link to our overview of Manhattan or Brooklyn real estate stats:
https://www.urbandigs.com/marketwide-charts/

For more Manhattan and Brooklyn real estate conversations:
http://www.talkingmanhattan.com/

From a Commerical Point of View with Bob Knakal

In this episode, Noah and John from UrbanDigs sit down with Jeremy Stein, co-founder of the Stein Team at Sotheby’s, to discuss Manhattan real estate trends and professional insights. Jeremy highlights a growing confidence in the market post-election, particularly in the high-end sector, with off-market deals becoming a significant trend. He explains the dynamics of pricing strategies, emphasizing the importance of "earning" price reductions by demonstrating diligent effort to sellers. Additionally, Jeremy points out opportunities in properties needing renovations, as misconceptions about high renovation costs deter buyers. He stresses the value of collaboration and trust within the agent community to share insights and foster better service for clients. An excellent listen all around!

Highlights:
00:45 – State of the Manhattan Market
02:19 – Rise of Off-Market Deals
03:13 – What Defines Luxury?
07:28 – Challenges in Pricing Conversations
10:05 – Avoiding Small Price Cuts
12:47 – Opportunities in Renovation Properties
15:11 – Evolving Buyer Trends
18:30 – The Importance of Agent Collaboration
22:24 – Shaping Market Perception for Pricing Success
24:41 – Advice for New Agents


The Stein Team's Page
https://steinnewyork.com/

Jeremy's Page at Sotheby's
https://www.sothebysrealty.com/eng/associate/180-a-1178-1223981/jeremy-v-stein

Connect with Jeremy on LinkedIn:
https://www.linkedin.com/in/jeremyvstein/

Follow The Stein Team on Instagram:
https://www.instagram.com/steinteamny

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** FREE **
Macro Monday - LIVE every Monday at 11am!
We break down what's happening in the credit, equity, and NYC real estate markets!

** Need a price cut? Want to wow a seller?  Use UrbanDigs Advisor! **
Our customized pricing analysis service closes deals faster and makes you look like a hero. Plus, subscribers get a big discount, so the ROI is literally OFF. THE. CHART. Email support@urbandigs.com and let us know what you need!
https://www.urbandigs.com/advisor/

Track the New York City real estate market with real-time data and charts:
https://www.urbandigs.com/

Link to our overview of Manhattan or Brooklyn real estate stats:
https://www.urbandigs.com/marketwide-charts/

For more Manhattan and Brooklyn real estate conversations:
http://www.talkingmanhattan.com/

Got questions? We got answers! Visit our forum:
https://www.urbandigs.com/forum/index.php?forums/main-forum.2/

Jeremy Stein on The Art of Pricing and Selling

Noah Rosenblatt and John Walkup from UrbanDigs talk real-time NYC real estate data and trends.

Jeremy Stein on The Art of Pricing and Selling

Talking Manhattan

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