The Bob Knakal Show NYC Real Estate Brokerage Legends: Stephen Siegel
Welcome to the inaugural episode of The Bob Knakal Show! This episode features an engaging conversation with Steve Siegel, the Chairman of Global Brokerage at CBRE, the world's largest commercial real estate services company. Steve who shares his unique background of growing up in the Bronx, his unexpected love for the New York Mets, and his illustrious journey in the real estate industry working his way all the way up to the top of the industry from the mailroom. Bob Knakal, former owner of Massey Knakal Realty Services and head of New York investment sales at C & W and JLL and a legendary figure in NYC real estate, dives deep into Steve’s early career, from delivering leaflets to becoming a top broker. The episode also includes insights from Bob and his co-host, Jillian Mariutti, who reminisce about the history of NYC real estate and discuss current market trends. Listeners will be inspired by stories of resilience and triumph in the competitive world of real estate and can benefit from the Q&A segment addressing the current state of the market, tax incentives, and the future of NYC real estate.
About Bob Knakal
Bob Knakal is a renowned figure in the New York City real estate market with a career spanning over 40 years. He is currently the Chairman & CEO of BKREA and previously co-founded Massey Knakal Realty Services in 1988 with Paul J. Massey Jr., which became NYC’s leading building sales firm. Under his leadership, Massey Knakal closed over 6,000 transactions worth more than $23 billion until its acquisition by Cushman & Wakefield in 2014.
Early Career
Bob began his real estate career at CB Richard Ellis in 1984. He later co-founded Massey Knakal, where he implemented a unique territory system that made brokers experts in specific neighborhoods.
Massey Knakal Realty Services
Known for its specialization in NYC building sales, the firm was acquired by Cushman & Wakefield in 2014 for $100 million. Bob continued as Chairman of New York Investment Sales at Cushman & Wakefield, where he was the top originating investment sales broker globally for several years.
JLL and BKREA
Bob joined JLL in 2018 as Chairman of New York Investment Sales. In 2024, he founded BK Real Estate Advisors (BKREA), integrating AI with traditional real estate practices to innovate the market.
Notable Achievements:
Sales Record: Bob has personally been responsible for the sale of over 2,339 buildings (which is generally considered the highest total for a single broker in the history of NYC, totaling more than $22 billion in sales.
Development Sites: He has handled over 250 development site transactions, totaling over $7 billion in sales.
Recognition: Bob has been regularly listed among the Commercial Observer’s Power 100 and named one of the Most Influential Business Leaders in NYC by Crain's.
Personal Projects and Media Presence:
The Map Room: Bob is known for his extensive map collection, which he uses as a tool for client meetings and strategic planning. His “Map Room” has been a focal point in his career and media coverage.
Social Media and Mentoring: Bob is active on various social media platforms, sharing insights and mentoring young professionals in the real estate industry. His posts often discuss deal-making and industry trends, attracting a wide audience. In 2024 he was ranked the #2 commercial real estate influencer on X (Twitter) and the #1 commercial real estate influencer on LinkedIn.
Bob Knakal continues to be a pivotal figure in the NYC real estate scene, combining his vast experience with innovative approaches to shape the future of real estate brokerage.
About Jillian Mariutti
Jillian Mariutti is a Senior Director in the New York office of JLL Capital Markets, Americas. She joined JLL as part of the HFF acquisition and has more than 15 years of experience in the commercial real estate industry. She arranges and structures real estate capital on an exclusive basis for the nation’s premier owners, investors, and developers. Previously Jillian was a Director at Mission Capital on the debt and equity finance desk. Prior to Mission, she worked at JCRA Financial LLC as the Head of Real Estate North America and was responsible for providing foreign exchange and interest rate risk management services to Real Estate clients. Jillian joined JCRA from Wells Fargo in New York where she was a Vice President and marketed and structured interest rate management solutions for Public REITS, Multi Family and Hospitality Finance clients. Jillian also spent a year working in the San Francisco office where she advised on interest rate risk management for the Gaming sector and the West Coast Real Estate Capital Markets team. She started her career at Wachovia in 2007 and covered a variety of industry groups within the firm’s Corporate and Investment Banking platform. Jillian graduated Summa Cum Laude with a B.S. degree in Mathematics from the University of Pennsylvania.
About Steve Siegel
Stephen B. Siegel is a prominent figure in the NYC real estate scene, currently serving as the Chairman of Global Brokerage at CBRE, the world's largest commercial real estate services company. He has been a key player in shaping the industry, with a career that spans several decades and includes numerous high-profile deals and leadership roles.
Cushman & Wakefield
Steve began his career at Cushman & Wakefield, where he quickly rose through the ranks to become President and CEO at the age of 37.
Insignia/ESG
He later became the Chairman and CEO of Insignia/ESG, where he was instrumental in the company’s global expansion before its merger with CBRE.
CBRE
Post-merger, Siegel has continued to lead major initiatives and transactions, contributing to CBRE's position as a leading global firm.
Notable Achievements:
Major Deals: He has negotiated some of the most significant deals in NYC, including the leasing of Gucci Group’s space at Trump Tower and the acquisition of 1290 Avenue of the Americas.
Awards and Recognition: Steve has received numerous accolades, such as the Commercial Property News' Lifetime Achievement Award, and has been listed among the most influential business leaders in NYC by Crain's.
Community Involvement: Siegel is deeply involved in philanthropic efforts, including founding the Stephen B. Siegel Adult Day Care Center and serving on the board of the Gift of Life Marrow Registry. His contributions have been recognized by various organizations, reflecting his commitment to giving back to the community.
Early Life: Steve was born in the Bronx to a Jewish family. His father was a laborer, and his mother worked as a school crossing guard. These humble beginnings shaped his work ethic and approach to business and philanthropy.
Steve Siegel's career is marked by his significant contributions to the real estate industry, his leadership in major companies, and his ongoing commitment to community service and philanthropy. His story and experiences offer valuable insights and inspiration for anyone interested in the world of real estate and beyond.
Links and Resou...