Bob Knakal, head of JLL's NY Private Capital Group, introduces the Knakal Map Room, a revolutionary tool revealing four decades of NYC real estate prices, offering unparalleled insights, and reshaping Manhattan property analysis.
New York, NY, United States, August 11, 2023 -- Bob Knakal, a prominent figure in New York City's commercial real estate scene and head of the NY Private Capital Group within JLL Capital Markets in New York City, launched a comprehensive data set that provides unparalleled insights into the price trends of Manhattan's real estate market over the past four decades.
At the heart of this initiative is the Knakal Map Room, a discreet location in midtown Manhattan. This room displays a vast map detailing buildings under construction, planned and pending developments, and single-parcel development sites. But it's more than just a visual representation; it's a deep dive into the price fluctuations and market dynamics of NYC real estate.
For a more detailed exploration of the Knakal Map Room, interested individuals can view the two videos: Into the Heart of the Market - The Map Room and Everything You Wanted to Know about Development Sites but Were Afraid to Ask | The Map Room Part 2
"The essence of the real estate market is its price trends. Our data set, especially when paired with the Knakal Map Room, offers a unique perspective on the price movements and market conditions of NYC commercial real estate over the years," states Knakal.
The data set also includes an exhaustive list of comparable sales data, categorized and dating back to 1984. This historical data, juxtaposed with market conditions at the respective times, offers a rare glimpse into the economic forces that shaped the NYC real estate market.
In brief
Bob Knakal, who leads JLL’s New York Private Capital Group, has introduced the Knakal Map Room and a historical dataset focused on Manhattan commercial property prices. The map room in midtown Manhattan displays buildings under construction, proposed developments and individual development parcels. The dataset includes comparable-sale records dating to 1984, which the company says can be considered alongside market conditions from the time. Its development pipeline summary covers residential rentals, condominiums, hotels and other activity. Knakal describes the resource as a way for developers, investors and sellers to examine New York City real estate pricing across past and current market conditions. The release also offers private viewings and identifies two videos about the map room and development sites.
Key takeaways
- The Knakal Map Room presents development activity and property data in midtown Manhattan.
- The dataset includes categorized comparable sales dating back to 1984.
- The pipeline summary lists 435 active and pending projects totaling 85,615,303 bsf.
- Bob Knakal leads JLL’s New York Private Capital Group.
Development Pipeline Summary Highlighting Price Trends:
- Residential Rentals:
- Active projects: 34 (6,685,931 bsf, 5,994 units)
- Pending and Planned projects: 18 (5,316,120 bsf)
- Residential Condominiums:
- Active projects: 106 (12,778,283 bsf, 6529 units)
- Pending and Planned projects: 134 (15,731,257 bsf)
- Hotels:
- Active Projects: 14 (2,254,591 bsf, 4,875 rooms)
- Pending and Planned projects: 22 (4,218,490 bsf)
- Total Development Activity:
- Active and Pending: 435 projects (85,615,303 bsf)
Knakal's initiative is more than just a data compilation; it's a tool for developers, investors, and sellers to understand the price dynamics of the New York City CRE market, both historically and in the present day.
"Understanding price is pivotal. The Knakal Map Room is not just a repository of data but also a lens into the intricate world of NYC real estate pricing. We invite all stakeholders to experience this firsthand," Knakal adds.
For a private viewing of the Knakal Map Room and an in-depth discussion of the data, interested parties can contact Bob Knakal directly at 917-509-9501 or via email.
About the company: Robert "Bob" Knakal is a Senior Managing Director at JLL, a global leader in real estate services and investment management. With a career spanning four decades, Bob closed over 6,000 transactions with an aggregate value in excess of $23 billion. To date, Bob has been personally responsible for the sale of over 2,230 buildings (generally considered to be the highest total ever for a single broker in New York) and over $20.4 billion in sales. With respect to development sites, Bob has personally handled the sale of over 250 development site transactions totaling over $7 billion in sales. At JLL, Bob spearheads the New York Private Capital Group, where he applies his extensive experience and innovative strategies to deliver exceptional results for clients. Known for his revolutionary approach to property development analysis, Bob continues to redefine the real estate landscape.
Contact Info:
Name: Bob Knakal
Email: Send Email
Organization: Robert "Bob" Knakal - JLL
Address: 330 Madison Ave 4th Floor New York, NY 10017
Phone: (917) 509-9501
Website: https://sites.google.com/view/bob-knakal/
Video URL: https://youtu.be/y1OawOZUgLQ
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Questions around this news
What information does the Knakal Map Room provide?
The release describes the Map Room as a midtown Manhattan location displaying a map of buildings under construction, planned or pending developments, and single-parcel development sites. It is paired with a data set on Manhattan real estate price trends and comparable sales dating back to 1984, with historical information presented alongside market conditions at the time.
What types of development projects are included in the release’s pipeline summary?
The summary covers residential rentals, residential condominiums, and hotels, listing active projects separately from pending and planned projects. It also reports an overall total for active and pending development activity. The release presents project counts and, for several categories, building square footage and unit or room figures.
What is comparable-sales data in commercial real estate?
Comparable-sales data records transactions involving properties considered similar to a property being evaluated. Comparisons may account for factors such as location, property type, size, condition, and sale timing. Brokers, appraisers, and market participants use these records as one source of evidence when assessing price trends or estimating a property's market value.
What does a real estate development pipeline show?
A development pipeline is a snapshot of projects at different stages, such as active construction, planning, or pending development. It can help readers understand the amount and mix of potential new property supply. Pipeline figures are not necessarily a count of completed buildings, because projects may change status, be delayed, or not proceed.
