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Massey Knakal traces growth to a bank loan rejection and a startup push

The firm was launched in November 1988 after its founders saved $400,000 following a Chemical Bank refusal to finance their early plan.

Reported · Written up by our desk · Industry

Commercial Observer recounts the early career decisions behind Massey Knakal, highlighting how a handful of moments shaped the company that went on to sell more than three times as many investment properties as any other firm in New York City for 14 straight years.

According to the outlet, the founders first aimed to secure a loan at Chemical Bank to finance their new company idea, but the bank rejected them, doubting that two young brokers with limited resources could manage financing. Instead of dropping the plan, they spent the next two years saving until they had accumulated $400,000 and launched Massey Knakal in November 1988.

The story says the next major decision came as the business expanded within Manhattan, with coverage reaching all sales territories by 1999. At that point, the founders weighed turning the firm into a full-service real estate company versus expanding geographically while staying focused on specializing in building sales.

Commercial Observer adds that the firm chose to remain specialists, opening additional offices in Queen as it scaled.

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