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 of Talking Manhattan, Noah and John welcome Lisa Lippman, the top broker at Brown Harris Stevens for several years running, who shares her insights on the current Manhattan real estate market. Lisa describes the market as insecure, with high interest rates affecting financing-dependent buyers, while wealthy buyers face confusion about property values. She discusses the divide between coops and new devs, the challenges of renovation, and, in a masterclass of exposition, the importance of pricing correctly. As always, we end with advice, and Lisa breaks down how valuable experience, market knowledge, and persistence are to new agents. There's gold in these hills!

Highlights:
01:00 - Current state of the market
02:00 - Impact of high interest rates on buyers
03:05 - Cash-rich buyers and generational wealth
04:25 - Bifurcated market: Coops vs. new developments
07:45 - Price trends since 2017
11:55 - Challenges with renovation costs
13:02 - Importance of accurate pricing
14:20 - Efficient markets and the importance of proper pricing
22:45 - Finding good value for buyers in the current market
28:05 - Advice for new real estate agents
30:00 - Final thoughts and takeaways

Lisa's Page at BHS:
https://www.bhsusa.com/real-estate-agent/lisa-lippman

Connect with Lisa on LinkedIn:
https://www.linkedin.com/in/lisa-lippman-a25915

Follow Lisa on Instagram:
https://www.instagram.com/lisaklippman/

** Need a price cut? Want to wow a seller?  Use UrbanDigs Advisor! **
Our customized pricing 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/

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/

TM Lisa Lippman

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

TM Lisa Lippman

Talking Manhattan

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