Massey Knakal chairman Bob Knakal emailed the above gem last night. It charts the expectations for the New York investment-sales market for properties $100 million and under. Basically, sales volume will decline in 2009, and the turnover in property stock will decline with the unemployment rate.
It's tough out there. Sayeth Mr. Knakal: "The sales volume of investment properties in New York City in the under $100,000,000 market is approaching its all-time low level."