BY ADELAIDE POLSINELLI

If you took a behind-the-scenes peek at the things some brokers will do to get listings, you might do more than just scratch your head in wonder.

A “listing,” also known as a property that is for sale, is like the coveted holy grail of a broker’s existence. Listings are the lifeline of a broker’s success. Without listings there would be no sales, which means there would be no commissions, which means there would be no need for brokers.

The broker who controls a listing is comparable to a demigod. They totally rule the playing field. But just how far will some brokers go to get listings?

Without sounding like a cliché, the oldest trick in the book, no pun intended, is still sex. Don’t look shocked. It took me awhile to believe this too, but there are brokers in our industry who trade sexual favors for listings.

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BY ROBERT KNAKAL

The New York City investment sales market over the past three or four weeks has been happily reminiscent of the market in 2007. This, folks, is the best market we have seen in five years.The New York City investment sales market over the past three or four weeks has been happily reminiscent of the market in 2007. This, folks, is the best market we have seen in five years.

Cap rates are compressing sharply, values are up, bidding wars at or above the asking price are commonplace as buyers are climbing all over each other to purchase the relatively few properties that are available for sale.

I’m bringing these dynamics to your attention today because I think building owners are seeing a wonderful moment in time for potential sellers to take advantage of these market dynamics. This may come across as one of the most self-serving correspondences I’ve ever sent, but if you follow the points below I think you may agree with my conclusions.

Presently in the investment sales market there is a very sharp supply-demand imbalance, with demand greatly exceeding supply. On the supply side, there are relatively few properties on the market for sale, as many potential sellers have indicated that they are not interested in letting go because of a lack of alternative investments into which to deploy the proceeds from the sale.

Meanwhile, we haven’t seen as many sellers as we anticipated to take advantage of this year’s capital gains tax rates, which are likely to increase next year.

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BY CARL GAINES

RXR Realty has signed furnishings giant Knoll, Inc. on for 50,000 square feet of space at its 1330 Avenue of the Americas. Knoll will most make the move to the second through fourth floors at the 534,000-square-foot building during the first quarter of 2013.

It’s an exciting get for RXR, since Knoll will be moving from Google’s building at 111 Eighth Avenue, a fact not lost on William Elder, executive vice president and managing director in RXR’s New York City office.

As The Commercial Observer reported in late June, the furnishings company was rumored to be leaving 111 Eighth Avenue in an exit that was rumored to be facilitated by a payoff from the tech giant, which has hoped to reclaim some space there for its own expansion needs.

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BY DANIEL GEIGER

The Blackstone Group, which yesterday signaled that it would seek to sell off much of its portfolio of U.S. office buildings, has leased a floor high in 601 Lexington Avenue from the investment firm Citadel Group.

Blackstone will take the building’s entire 48th floor in the deal, a 31,000-square-foot space, for five years, which is the remaining term on Citadel’s lease at the property.

Citadel occupies several floors at 601 Lexington Avenue and put the 48th floor on the market for sublease late last year, asking for high priced rents of about $95 per square foot for the space though it was not clear by press time what Blackstone agreed to pay in the deal.

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