Elika Associates

Observers Look to Downtown Manhattan to Help Fuel Real Estate Rebound

Most of the talk in New York real estate circles these days has centered on the national recession, the pain it has caused the NYC apartment market, and when it's all going to end. The recent Deutche Bank report has fueled the debate, as have recent ... Read >

Coming Back Home

The real estate market, in comparison to most markets, moves at a glacial pace. Housing and property are, after all, two of the most illiquid assets you can buy. That illiquidity makes sense: you can never move it; for most lots it's hard to sell just... Read >

The Highest of the High-End Takes a Hit

Like the rest of the Manhattan real estate world, this column devoted significant coverage over the past couple of years to developments at the 15 Central Park West and the Plaza.  The two properties were full of promise and had been selling units at a... Read >

Coming Back Home

The real estate market, in comparison to most markets, moves at a glacial pace. Housing and property are, after all, two of the most illiquid assets you can buy. That illiquidity makes sense: you can never move it; for most lots it's hard to sell just... Read >

Marginal Neighborhoods Hit First, Hardest

Prices are declining throughout New York City, but certain neighborhoods are being hit harder than others. It is usually the case that changing and marginal neighborhoods are hit hardest by slowdowns.  Despite this entire recession being cause... Read >

Real Estate Agent Anecdotes Suggest Strong Summer

There has been little doubt recently that the Manhattan real estate market has been slowing down recently. Inventory is up, and sales are down. While average prices have remained strong, it is clear that the days of the superman-like invulnerability in ... Read >

Importance of Negotiation Tactics Rise as Uncertainty Increases

With the volume of deals decreasing at a significant pace, a new set of questions are being asked about the Manhattan real estate market. Most of them have to do with the general point of curiosity that has got everyone's mind in a fix: Will the slowdo... Read >

Super-Luxury New York Apartment Sales Set New Record

With the peak of the Manhattan Real Estate market looking like it has passed for the near term, many observers are waiting to see when the drop in the market's value will begin and how far down it will go. Those assuming the same will happen ... Read >

New York City Real Estate Market holding steady?

While many predicted the first quarter of 2008 would finally show the New York City real estate market's connection to the ailing national market, the city's real estate actually dramatically increased in value during that time. Manhattan led the way f... Read >

Super-Luxury New York Apartment Sales Set New Record

With the peak of the Manhattan Real Estate market looking like it has passed for the near term, many observers are waiting to see when the drop in the market's value will begin and how far down it will go. Those assuming the same will happen ... Read >

Cometh the Manhattan Buyers Market

Perhaps because everyone in the industry has been waiting for New York City's real estate market to begin looking a bit more like the rest of the country's, the media's coverage of the last quarter's surprisingly strong numbers were almost celebratory.... Read >

Battles Loom Over Rent-Controlled NYC Apartments

With the sale last year of a large number of the city's public housing units, the battle over New York City's subsidized housing was brought into stark relief. Indeed, last year's sale of the Manhattan apartment complexes was not only the largest... Read >

What's next for Manhattan Real Estate

The first quarter of the year was a bad one for the national housing market. Nothing much new occurred, however it was an unabated continuation of last year, which was one of the worst years for the national ma... Read >

What's next for Manhattan Real Estate

The first quarter of the year was a bad one for the national housing market. Nothing much new occurred, however it  was an unabated continuation of last year, which was one of the worst years for the national m... Read >

Manhattan Remains Stronghold of Nation's Real Estate Market

As the subprime crisis only gets worse, the nation's housing market is set to suffer the same ignominious fate as it did in 2007. Last year was the worst year for the national housing market since the Great Depression, and the subprime crisis is... Read >