Today I'm honored and privileged to announce that I will start at @BKRealEstateAdv - BK Real Estate Advisors in New York focusing on Manhattan Office Capital Markets with not only selling assets as stabilized and value add office assets, but as well as conversion and redevelopment to the highest and best use the zoning and conditions permits. This wasn't an easy decision to leave my hometown and primary market that I focus in, which is the Washington, DC MSA, but three months ago I knew the timing an opportunity presented itself to not only work with my good friend and mentor @BobKnakal, but truly learn from the best. Was I nervous? Yes 100%, it was uncomfortable making this huge change! I wouldn't say I was restarting my career, but making a major pivot & relearning a new market from scratch. Not only that, Bob & I became really good friends, & I didn't want to let my good friend down if I started working at BKREA. So I finally made the ask over two months ago in Late March when I was in NYC & Bob was shocked I'd was willing to start over & be in the trenches with in him, that being said he was beyond thrilled. I'm still not going to lie, this still makes me a little nervous, but BK says I have nothing to worry about, but that being said I still don't want to let a friend down, so I'm just going to have to work 5-10X harder!! Thank you again Bob for this opportunity! To all my friends in Washington DC, don't worry I'll still be in town 3 days a week since most of my family lives in the DC MSA, and family is one thing you can't put a price on! #commercialrealestate #newyork #newbeginnings

Thank you to Shanti Ryle and the team at @Crexi for this opportunity to share my insights on the #office market in #Manhattan as well as talking about tech, strategies, and best practices! Check it out it’s a great read!

RT @CREXinc:

@titlelawyerjoe I’ll find out tomorrow!

In #investmentsales in #commercialrealestate, one thing that will set you apart is always getting feedback! When your pitching a deal to a seller to get a listing agreement, when marketing the deals to buyers, when negotiating an offer, collecting feedback is crucial! When going for a listing agreement always ask for feedback, was your BOV or Proposal agressive? Was your marketing tactics lacking something? was there something the competitors offered better? What could have I done better? What will it take to have you list?? Talking to buyers, is the asset priced correctly? What do you think the asset should be worth? Are you currently in the market for the asset being pitched? What are you in the market to purchase? When are you looking to purchase? Tell me what’s wrong with the asset so I let the seller know! (And follow up with that owner every week!) Negotiations, what’s the reasoning behind your price and terms? Can anything be done to raise your offer or tighten up terms? How long is your offer good for? Are you currently negotiating other assets?? #Feedback regardless of what stage a deal is crucial as our jobs as brokers is to be in constant communication with buyer and sellers to attract the best deal for our clients, not to just list a property and wait for the phone to ring!

@bobbyfijan @JohnCena It looks like it!

@ImBmills @JohnCena

@life0fStacy13 @JohnCena 🤔

@Franchise_BW @JohnCena 🤣

RT @trdny: Manhattan office leasing jumps 24% in January

Always be on top of your comps… it might just help getting a deal signed… when I started at @BKRealEstateAdv - BK Real Estate Advisors it was something @BobKnakal would preach over and over again as being a market expert you need to know your comps. What deals were investment, owner use, development, conversion, what was the vacancy at the time of the sale, was there something special about that deal where the buyer paid a premium?? I would follow up on comps maybe every few weeks, but lately with the help of my interns I’ve been able to delegate and review comp data on a weekly basis. On a follow up call I mentioned a comp that wasn’t even traded a month ago, but it reaffirmed our BOV that price guidance was correct and the comp in the market place was proof to the ownership. I’m now having lunch with that ownership group tomorrow. Always be on top of your comps!!!

@Jeffdthompson @JohnCena

#OfficetoResidential Conversion has now tripled in the US from 23,100 units in 2022 to 70,700 units in the pipeline for 2025 based on a report from RentCafe! Leading the charge is #NewYork - 8.31K units! “NYC leads the nation in office conversions, up 59% YoY. With 305 MSF of office space suitable for conversion, the city is prioritizing adaptive reuse. The former Pfizer HQ at 219 E 42nd St. is one key project, set to deliver 536 rental units.” Makes sense when there still 90M+ SF of office space that’s vacant in the big apple. However many aspects go into analyzing an office to residential conversion such as setback requirements, light and air wells, floor plate configurations, zoning, cost estimations. At @BKRealEstateAdv our SWAT Team are looking at every office building in #Manhattan to see what can be applied either through City of Yes, the proposed Midtown South Mixed-Use Plan, 467M and many other zoning and tax incentives!

@dgnyCRE @JohnCena Maybe office buildings

@jpapeika @JohnCena

@TheMoRegalado @JohnCena

BKREA - BK Real Estate Advisors has been retained on an exclusive basis to arrange the sale of 260 West 36th Street (“The Property”), a remarkable nine-story office building on the south side of West 36th Street. The property has a lot area of roughly 7,266 SF and is just two blocks north of Penn Station, Madison Square Garden, and the newly renovated Penn District. Constructed in 1907, 260 West 36th Street has 102,611 RSF and 73.58 feet of frontage along West 36th Street. The Property is currently in an M1-6 zoning district (in the Special Garment Center District) but is located in the proposed Midtown South Mixed Use (MSMX) rezoning area. If approved, it would be rezoned to M1-9A/R10, allowing up to 18 FAR for residential use (inclusive of MIH) and 15 FAR for commercial use. At present, 260 West 36th Street has a weighted average lease term of approximately 2.26 years and an occupancy rate of 59%, with cancelation clauses built into the leases. Given the existing vacancy, a potential investor could add value by renovating and leasing the vacant floors. Furthermore, the Property represents a potential covered land play, where an owner can collect existing cash flow while going through the planning process for a conversion. Due to the 41% vacancy rate of 260 West 36th Street, there is also potential for redevelopment with several possible schemes or sold as part of a larger redevelopment site along with 500 and 516 8th Avenue. For information please contact either @BobKnakal or myself

One thing about #NYC is there’s always something to do! If your in #Manhattan one thing you should check out is the #MercedesAMG popup on 7th and 34th next to Penn Station I might be bias since I’m a huge AMG Enthusiast but besides picking up AMG Swag (some limited edition pieces), there is a free F1 Simulator for people to try out. The popup was supposed to close up last Friday but has been extended for 1 more week. Definitely worth checking out!

@CoyDavidsonCRE @seanpatward Now I’m curious as well