Episode 238: Skylines and Strategies: Navigating New York City Real Estate with Bob Knakal

The REI Diamonds Show-Real Estate Investment Podcast

Episode 238: Navigating New York City Real Estate with Bob Knakal

Guest: Join us in this episode as we sit down with Bob Knakal, Head of the New York Private Capital Group at JLL, a seasoned investment sales broker with a 40-year career in the dynamic New York City real estate market. Bob shares insights into his impressive journey, highlighting his role in transforming the skyline through strategic land deals and development projects.

Big Idea: Bob Knakal takes us on a journey through his four-decade-long career in the New York City real estate market. From the early days as an investment sales broker to leading the New York Private Capital Group at JLL, Bob shares key strategies for success, highlighting the importance of expertise, data-driven decision-making, and product specialization. The discussion delves into the nuances of the market, examining recent corrections, development opportunities, and the unique challenges and advantages of navigating the complex world of New York City real estate. Bob's insights provide valuable lessons for both seasoned professionals and those looking to make their mark in the ever-evolving real estate landscape.
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Resources mentioned in this episode:
https://www.us.JLL.com/

View the Episode Description & Transcript Here:
https://reidiamonds.com/skylines-and-strategies-navigating-new-york-city-real-estate-with-bob-knakal/

Bob Knakal & I Discuss New York Real Estate:

• Expertise and Differentiation: Bob emphasizes the importance of becoming an expert in a specific niche of the market, using statistics rather than adjectives to answer key market questions.

• The Map Room Advantage: Bob discusses the creation of the Map Room, a unique data set that tracks every building under construction and potential development site in New York City, providing a competitive advantage in selling land.

• Product Specialization: Bob talks about the shift from geographic orientation to product specialization in recent years, focusing on specific property types such as land transactions and multifamily properties.

• Market Correction Dynamics: Bob provides a detailed overview of the New York City real estate market's recent corrections, emphasizing the autonomy of different product types and the changing behavior of lenders in response to market conditions.

• Development Opportunities: Explores ongoing development opportunities in various sectors, including the challenges and prospects in the condo land market, the impact of rezoning projects, and the transformation of the hotel market.

Relevant Episodes: (There are 238 Content Packed Interviews in Total)

• The Future of Commercial Real Estate Investing in Major Cities with James Nelson

• Aaron Lockhart on Doing Deals with Diamond Equity