Selling an elevator multifamily building in New York City comes with a distinct set of challenges—and opportunities. With institutional interest rising and regulatory factors tightening, sellers need a targeted approach. Bob Knakal’s new guide delivers just that, equipping owners with real-time market insights, historical context, and proven strategies tailored for elevator properties.
Key Takeaways
Tailored for Elevator Buildings: Unlike walk-ups, elevator buildings (typically six stories or taller) attract a different buyer pool, pricing dynamics, and tenant expectations—necessitating a distinct sales approach.
Backed by Decades of Data: The guide draws from BKREA’s proprietary AlmaKnakal Multifamily Report, which includes elevator building sale records dating back to 1984.
Hyperlocal Marketing Strategy: Knakal emphasizes the importance of neighborhood-specific pricing, tenant mix analysis, and asset positioning to maximize value.
Actionable Seller Tools: The guide walks sellers through T12 prep, capital improvement evaluation, cap rate analysis, and understanding rent regulation impact.
Proven Expertise: With over 2,351 buildings sold—including hundreds of elevator assets—Knakal’s track record supports the guide’s insights with hard-won experience.
Bonus Content for Owners: Includes case studies, borough-specific metrics, and a comprehensive FAQ section addressing common seller concerns from valuation to documentation.
Frequently Asked Questions
Q: What’s the difference between selling a walk-up and an elevator building?
A: Elevator buildings command different pricing, attract more institutional buyers, and require more complex financial and legal prep.
Q: Who is the guide for?
A: Building owners, property managers, and brokers looking to understand the nuances of selling elevator multifamily assets in NYC.
Q: Is the guide based on current market conditions?
A: Yes. The data and strategies reflect today’s interest rate environment, policy landscape, and buyer sentiment.
Q: How can I access the AlmaKnakal Elevator Building Report?
A: Request a copy by connecting with Bob Knakal on LinkedIn or visiting BKREA.com.
Q: What documents should I prepare before selling?
A: Rent rolls, T12 financials, DHCR registrations, capital improvements list, and a clear record of unit layouts and lease terms.
Q: What makes elevator buildings attractive to buyers today?
A: Stability, long-term tenancy, bankability, and resilience through market cycles—even amid regulatory or economic headwinds.
