Land & Property News

Bob Knakal CEO of BKREA Releases 41-Year Knakal Land Index, Offering Unprecedented Insight Into NYC Development Trends

BK Real Estate Advisors (BKREA) has announced the release of the Knakal Land Index, a proprietary 41-year study tracking Manhattan land sales dating back to 1984. The index analyzes 2,444 transactions across prime Manhattan geography, making it one of the most comprehensive datasets ever assembled on New York City development sites. Find the full article here: https://uscommerciallending.com/bkrea-knakal-land-index-manhattan/ The Knakal Land Index segments transactions into five property categories—residential rental, residential condo, office, hotel, and miscellaneous uses such as education and healthcare—allowing investors to see how land pricing behaves differently by use. This approach avoids the pitfalls of blended averages that often obscure meaningful market signals. “We view ourselves as being in the information and relationship business,” said Bob Knakal, Chairman and CEO of BKREA. “When people have better information, they make better decisions. This index gives the market a factual baseline that simply hasn’t existed before.” The index focuses on prime Manhattan geography, defined as south of 96th Street on the East Side and south of 110th Street on the West Side. This corridor represents the most competitive redevelopment zone in the city, where pricing reflects long-term density strategies and high-stakes entitlement decisions. It is also where Manhattan’s skyline continues to evolve most dramatically. Using proprietary AI models, BKREA compares land value trends against a wide range of macroeconomic indicators to determine which variables have historically been most predictive of future market direction and the potential magnitude of change. This framework is designed to make the data actionable rather than purely historical. Knakal has applied the same methodology since 1984, allowing for consistent comparisons across multiple market cycles. This long-term continuity positions the index as a reference point for investors, developers, and lenders looking to move beyond short-term headlines. In Manhattan, development sites rarely appear as vacant land. Opportunities typically emerge through the acquisition and repositioning of older, underutilized buildings. Knakal is widely recognized as one of New York City’s top development site brokers for his ability to identify hidden density and maximize value through zoning and entitlement strategies. This makes the dataset relevant not only to developers, but also to lenders, investors, and property owners evaluating redevelopment potential. A summary of the index’s findings appears in Knakal’s newly released “ Ultimate Guide to Selling a Development Site for the Highest Possible Price ,” a 340-page coffee table book published by BKREA. The book includes a comprehensive overview of Manhattan land sales history, detailed index findings, over 200 development site case studies with deal write-ups and client testimonials, before-and-after visuals showing how New York City has evolved, and a recap of Knakal’s two REBNY Most Ingenious Deal of the Year Awards. Industry reaction has been strong. Robert Lobel, President of Bellrock Development, called the index “an old-school piece of research that lets the market go under the hood,” noting that it is rare to see four decades of structured data presented at this level of depth. Knakal added that the research is not available anywhere else and is intended to give BKREA clients a measurable advantage. BK Real Estate Advisors is a New York City investment sales brokerage focused on development, redevelopment, and user buildings. Owned by Bob Knakal, the firm reports that Knakal has sold more than 2,388 NYC properties totaling approximately $24 billion in transaction volume.