What happens when a teenage bookkeeper grows up to build one of the most diversified global real estate portfolios in the world?

On this episode of The Bob Knakal Show, Bob sits down with Francis Greenburger, Chairman and CEO of Time Equities, for a candid, powerful conversation spanning 50 years of real estate cycles, co-op conversions, global acquisitions, and entrepreneurial grit.

From delivering newspapers in Queens to buying buildings in Montreal for $8 a foot, Francis shares the inside story of how he turned timing, instinct, and smart problem-solving into a multibillion-dollar career. He dives into lessons from New York’s 1970s financial crisis, the co-op conversion boom (and collapse), and the deals that defined an era.

For anyone building a career in real estate—or just fascinated by the city's evolution—this episode is a masterclass in creativity, resilience, and bold decision-making.

Key Takeaways:

• How Francis started investing at 16 and found his way into real estate
• The origin story of Time Equities and the role rent control laws played
• Converting over 10,000 apartments and navigating the Tax Reform Act of 1986
• Buying distressed assets during economic downturns—then holding them for decades
• Lessons from the Savings & Loan crisis, the co-op boom, and today’s market volatility
• How to identify opportunity when everyone else sees chaos
• Why Francis prefers control and long-term holds over chasing scale

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What does it take to dominate the New York City real estate market for decades and then pivot into an entirely new asset class? In this episode of The Bob Knakal Show, Bob sits down with Dov Hertz, founder of DH Property Holdings, to unpack an extraordinary career that’s reshaped skylines, built billion-dollar portfolios, and pushed the boundaries of what's possible in development.

Dov shares stories from his early days growing up in Brooklyn to his time assembling some of Manhattan’s most iconic development sites, including the legendary 220 Central Park South deal. Then, he explains why he shifted from luxury high-rises to industrial real estate and how he pioneered multi-story warehouse development on the East Coast.

From bold negotiation tactics to market insights and career-defining moments, this conversation is packed with lessons for developers, brokers, and anyone looking to play at the highest level of real estate.

🔹 Key Takeaways:
-How Dov Hertz became the secret weapon behind Extell’s major assemblages
-The real story behind the 220 Central Park South power play
-Why multi-story industrial buildings are the future of urban logistics
-The mindset shift from assembling air rights to building last-mile warehouses
-How to identify market gaps and pivot before the competition
-Why the most complicated deals are often the most lucrative
-The power of specialization and knowing your local market inside and out
-Lessons in negotiation, from legendary buyouts to standing ovations
-Don’t miss this rare look inside some of New York’s most high-stakes deals and the strategy it takes to stay ahead.

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This week, Bob sits down with Scott Rechler, Chairman & CEO of RXR, and a true titan of New York real estate. Together, they explore Scott’s incredible journey from his family’s innovative aluminum beach chair business to leading one of the most influential real estate firms in the nation.

Join us as we dive into:

→ The evolution of NYC’s real estate market 🌆
→ Scott's insights on navigating industry downturns 📉
→ Lessons on resilience, innovation, and leadership 💼

Bob also shares his bold predictions for the NYC real estate market in 2025, highlighting key sectors primed for growth and the unprecedented turnover ahead. Don’t miss this in-depth discussion packed with valuable insights, historical context, and actionable takeaways.

Timestamps:
00:00 - Introduction
05:00 - Market conditions and predictions
12:30 - Scott’s family legacy and business beginnings
20:00 - Public markets and their impact on real estate

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🎥 Presented by @CREXI – the ultimate platform for commercial real estate transactions.

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