Newmark hasn’t closed on RKF deal because brokers won’t sign contracts

Newmark Knight Frank didn’t finalize its purchase of RKF on the expected closing date of July 1 because the latter couldn’t get the required 85 percent of its brokers and agents to sign contracts. RKF brokers balked at Newmark’s policy requiring that a percentage of commissions be paid out in company stock, Commercial Observer reported.[…]

Manhattan’s luxe resi market saw 13 contracts last week: Olshan

Manhattan’s luxury residential market recorded 13 contracts at $4 million and up last week, according to Olshan Realty’s weekly market report. That figure was down from 16 contracts signed during the same time last year. GID Development Group’s Waterline Square condominium project claimed the week’s priciest deal, with unit 36A at 10 Riverside Boulevard going[…]

Canon renews 34K sf at SL Green’s 125 Park Avenue

Camera and photocopier company Canon Solutions America renewed a lease for its roughly 34,000-square-foot offices at SL Green Realty’s 125 Park Avenue. Canon renewed its space in the 570,000-square-foot building between East 42nd and 41st streets for 10.6 years, SL Green announced Wednesday as it released its quarterly earnings. Other tenants in the building include[…]

This New York brokerage was just accused of predatory dual agency practices

A Westchester homebuyer is the lead plaintiff in a class-action lawsuit accusing Houlihan Lawrence of “predatory behavior” over its dual agency practices. The lawsuit claims that the 1,300-agent-strong residential brokerage makes dual agency part of its fundamental business plan and obscures its agents’ roles, the Wall Street Journal reported. Houlihan Lawrence also provides less disclosure[…]

Bob Knakal out at Cushman

Bob Knakal is out at Cushman & Wakefield. Three-and-a-half years after Cushman acquired Massey Knakal Realty Services, the brokerage severed ties with the investment-sales broker. “Cushman & Wakefield terminated its relationship with Bob Knakal effective immediately,” a company spokesperson told The Real Deal Monday afternoon. Knakal could not be immediately reached for comment, and the[…]