Privately-held Cushman & Wakefield is close to buying local brokerage Massey Knakal Realty Services for $100 million, according to the Mortgage Observer. Last month, Massey Knakal hired Perella Weinberg Partners to explore the sale of a 49% stake in the Manhattan-based firm or the entire company.
In recent years, Massey Knakal has captured a bigger share of the local real estate market. It has also expanded into retail leasing and mortgage brokerage. This year it is on track to do more than $5 billion in sales.
Cushman & Wakefield and Massey Knakal did not comment on the potential deal.
Source: Crain’s New York