The New York City real estate market is constantly evolving. With our intimate knowledge of New York City's landscape, the Elovitz Group is able to pinpoint creative and unique opportunities for our clients in the most unexpected places.

As the new year begins, New York City real estate has reached an inflection point. We are witnessing rental rates for Class“A” buildings reaching new highs as concessions continue to decrease. Banks and other lending institutions are assessing their options. More and more companies are either eliminating remote work entirely or demanding employees work at least four days per week from company offices, restoring the need for space. This is the perfect time to think out of the box and create options for real estate investments which are not obvious but potentially highly profitable. Historically, the value of NYC real estate over time tends to increase in spite of transient economic conditions.

While all of this energy is lowering the vacancy rates, many buildings are facing forfeiture. Maturing loans are becoming more difficult to renegotiate or replace at higher interest rates as their vacancy levels remain elevated and cannot demonstrate adequate NOI’s for refinancing. American alternative investment management companies, hedge funds and dominion funds are seeking opportunities. Banks and other lending institutions are assessing their options. Now is the perfect time to think creatively; for real estate investments, for properties which can be reimagined, for site assemblies and for properties situated within the areas of Manhattan presently in stages of redevelopment. This is our specialty.

The Elovitz Group, with over thirty years of experience, has participated in the leasing of over eight million square feet of office space. We have brokered over $6 billion of sales and/or purchases of properties and in excess of $4 billion in rental revenue.