Lala--whose first job in commercial real estate was with Marcus& Millichap in 1997 for about two years--tells GlobeSt.com thathe first left the firm because he was wanted to experience asmaller one so he joined Queens-based WRA Properties Inc. for a fewyears. He then left to participate in Massey Knakal Realty'sexpansion into the outer boroughs. As a partner at Massey Knakal,Lala spearheaded the company's expansion effort in the outerboroughs and under his leadership, Lala and his partners grew theoffice from 20 staff members to nearly 200 brokers and supportstaff. A Massey Knakal spokesperson tells GlobeSt.com that it has"no comment on Marco's departure," except to say that "we wish himthe best."

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Lala, who graduated from Manhattan College, tells GlobeSt.comthat his local sales experience, which he called his "corebusiness," has always been in the Bronx, Manhattan and Westchester,and is something he brings to the table at Marcus & Millichap.In his new position, he hopes to not only strengthen that corebusiness, but further it along with expansion into multi-statetransactions as well. Lala explains to GlobeSt.com that now, in hisnew post, he has completely eliminated any management/businessresponsibilities and says he is able to spread his elbows a bit andwork on other areas. "I have more latitude to work on other areasand can focus more on brokerage."

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The Bronx, Northern Manhattan and Westchester are all "finalfrontiers of double digit returns," Lala tells GlobeSt.com. He saysthat with the market correction, we are going to start seeing thatagain and although they have been attractive to the easy money thatwas available, "in those areas, this correction is going to bringback a little more sanity in the underwriting process there."

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When discussing the recent news of the treasury/GSEs'takeover,Lala tells GlobeSt.com that "the whole thing gives people aprospective that banks have to be a little bit more careful." Heexplains that the trickle-downeffect is that "it's not just me telling an owner that theyshould be more realistic when underwriting a property. …"

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Lala says that he believes multifamily prices have been affectedby the takeover, noting that whether they are going to continue tobe affected has a lot to do with people's perceptions. "When peoplelook at investments, there is a psychological effect…you know the,'if I wait three months, will it be better?' type questions," hesays. "It is not necessarily tangible market data, but there willdefinitely have an affect on prices."

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Edward Jordan, regional manager of the Manhattan office atMarcus & Millichap, describes Lala as one of the "most activeinvestment specialists in the Bronx, Northern Manhattan andWestchester markets, generating nearly $1 billion in transactionsand selling hundreds of properties during the last few years."

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Natalie Dolce

Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.