Top commercial real estate broker Bob Knakal is joining JLL to head up New York City investment sales with current managing director Mo Beler, multiple sources told The Real Deal.
Knakal’s contract with brokerage Cushman & Wakefield was terminated in June, leading to wide speculation as to where he would land. Sources had previously said he was also in talks with Colliers International.
Knakal, however, told TRD, “Nothing is finished yet, I’m still negotiating with the two companies,” though he declined to confirm the second company was Colliers. Minutes after TRD’s story went live, Commercial Observer published a story in which Knakal said he had joined JLL.
A source told TRD Knakal could begin work at JLL as soon as next week.
In 2014, Knakal sold the brokerage Massey Knakal he co-founded with Paul Massey to Cushman for a reported $100 million.
The reason for Knakal’s termination from Cushman was not clear. However, around the time the brokerage brought on top i-sales duo Doug Harmon and Adam Spies, Knakal renegotiated to shorten his contract by nearly two years.
Knakal is one of the top middle-market investment sales brokers in New York City. He negotiated Kushner Companies, CIM Group and LIVWRK’s $340 million purchase of the Watchtower complex in Brooklyn (Kushner has since sold its stake in the site).
Meanwhile, Knakal’s former business partner and onetime mayoral candidate Massey left Cushman in April to launch his own mid-market-centric firm, B6 Real Estate Advisors. He’s since signed a lease for an office near Bryant Park and hired several former Cushman and Massey Knakal brokers.