New york real estate apartments,homes for sale in buffalo new york area airports,real estate salt lake kolkata map,wichita kansas house of representatives - And More

16.04.2015
We aspire to be the leading trusted real estate advisor to our clients, which include, individuals, families, corporations and institutions. Elika Associates specializes in residential New York investment properties, and as an exclusive buyer’s agency, we offer our clients valuable strategies and independent quality research that results in risk averse property acquisitions.
With years of experience in risk management, we understand the needs of our discerning clients and provide best-in-class advice and execution excellence on all property transactions to help our clients maximize return on investment. Regardless of whether you are considering residential or commercial properties, New York City is one of the most stable and in demand real estate markets in the world. Our singular approach to representing buyers only allows us to better serve the strategic real estate investment needs of our clients. Before purchasing an investment property, you need as much information as possible about its long-term potential.
Comprehensive Needs Analysis – In order to spend your time wisely, you will need a real estate expert who understands your goals. Property Selection Help – You need accurate information about properties to make an investment. Comparable Market Analysis – You also need to know how each property compares to the rest of the New York City real estate investing market.
Referrals – As an exclusive buyer’s agency, Elika has access to some of the top attorneys, accountants and mortgage bankers in New York. Property Management  - Elika Associates ensures a hassle free process when investing in the largest real estate market in the world.
Diversifying your portfolio with New York real estate investments is a safe, smart financial move when you are working with a qualified agency.
As one of the most densely populated cities in the world, New York has a powerful real estate market that attracts investors from all over the world. Manhattan has been considered a center of culture, art and business for decades, and the boroughs reputation drives its rental and real estate markets. As the population of New York City has increased by about 70,000 persons per year over the last several years and will likely continue to increase over the next decade, many investors have championed New Yorks relatively safe, tangible and lucrative real estate market.
To understand Manhattans favorable investment potential, it is helpful to consider how the city of New York fared in harsh economic times.
During the housing market crash of 2008, for example, New York real estate prices showed extraordinary resiliency.
According to the Elliman report on Manhattan co-ops and condos, there were 10,161 sales in 2011. The average sales price in 2011 for all properties was $1,426,912, relatively similar to the average price of $1,457,255 in 2010 and up from $1,393,001 in 2009. The median sales price in 2011 was 850,000, again relatively consistent with $880,000 and $850,000 in 2010 and 2009 respectively. The report also notes that listing inventory continues to decline and that year-over-year price indicators are relatively stable since 2008. The gradual increase in sales prices can be partially attributed to Manhattans strict zoning laws, which greatly restrict the number of available residential properties in the borough.
There is also some inflation in wealthier communities, but analysts expect prices to continue to rise with many luxury homes and luxury rentals. This shows the potential of property investments in the city, especially compared to cities like London, Hong Kong, Paris and Moscow, all of which have more expensive real estate per square foot in prime housing locations. Unlike many of these major cities, New York real estate is easily available for foreign nationals.
Vacancy rates for Manhattan rental properties are almost unbelievably low and have historically stayed around 2-3 percent. With these high rental rates, its no surprise that rental averages in Manhattan are among the highest in the world. Properties in New York City are extremely valuable, and most analysts believe that properties in many neighborhoods will hold their value. However, buyers need to consider taxes, property types, locations and other features when purchasing properties as investments in New York City. IMPORTANT NOTE: The information below does not constitute legal advice, tax advice or an official position from Elika Associates. Non-resident aliens (NRAs) often invest in New York real estate thanks to the markets history of consistent growth. If you are a non-resident alien, directly owning a property has several distinct advantages and two major disadvantages. No Second Tax Levels for Rental Income - NRAs pay a second level of taxes on their repatriated operating earnings, which includes rental income, through some of the other ownership options listed below. Capital Gains Tax Advantages - Non-resident aliens typically have more favorable capital gains tax rates upon selling their properties through direct ownership than they might get through other options. Income Tax Returns - NRAs need to file personal tax returns with the United States Internal Revenue Service (IRS). There are instances in which an NRA would not immediately file income taxes, but all direct owners need to file income tax statements when selling their properties. Estate Taxes - The United States estate tax applies to properties owned by non-resident aliens, which can be an important consideration for some buyers.
These disadvantages compel many buyers to consider other options, such as owning property through corporations and limited liability corporations. Non-resident aliens get liability protection by owning real estate through a United States-based corporation. The corporation needs to list the address, taxpayer identification number and the name of any person who owns more than 50 percent of the corporation's stock to the IRS. Repatriated funds (any money sent back to your home country) are subject to double taxation unless you decide to end the corporation and liquidate its holdings.
As with direct ownership, you are subject to estate taxes when you own property as a United States corporation. You pay a 35 percent federal income tax for operating a foreign corporation inside of the United States.
Any repatriated operating income on your real estate is subject to an additional tax of 30 percent. You do not pay estate taxes or gift taxes on real property owned through a foreign corporation.
Speak with a qualified tax accountant who has experience with foreign corporations for more information on tax advantages and disadvantages as they relate to your case. Some non-resident aliens create a limited liability corporation (LLC) in order to get some of the benefits of buying a property through a corporation along with the flexibility of direct ownership. Many countries do not have a limited liability corporation designation or assess more of a tax liability for people with LLCs. If you do not want to file personal income taxes and your home country assigns a similar tax status to LLCs as the United States, this is certainly an option to consider. In a tiered structure, you own a United States corporation through a foreign corporation or trust.
You pay withholding taxes on declared dividends and distributions, but not on deemed repatriations. When you sell your real estate, the cash from the sale can be repatriated to your foreign corporation. You should work with experienced tax professionals to understand the full advantages and disadvantages of every option.
Am I working with individuals who fully understand my goals and my non-resident alien status?
By working with the experienced buyer's agents at Elika Associates, you can meet your real estate goals by purchasing excellent investment properties or a private home perfectly suited to your lifestyle. The information above does not constitute legal advice, tax advice or an official position from Elika Associates. The owner makes substantial improvements (extensive rehabilitation or installs major capital improvements) or increases services.
If an owner acts in violation of a tenant's rights, DHCR can reduce rent (and even impose civil penalties). For apartments eligible for rent stabilization after 1984, owners must submit an initial registration of all apartments within 90 days after becoming subject to rent stabilization.
Rent stabilization includes apartments in buildings (with six or more units) built February 1, 1947 - January 1, 1974.
Rent stabilization also covers tenants in building built before February 1, 1047 who moved in after June 30, 1971.
Rent stabilization also covers buildings with three or more apartments* constructed since 1974 with tax benefits. Each year, local Rent Guideline Boards set maximum rates for annual rent increases (effective for leases beginning October 1). Effective January 1, 1998, the RRRA of 1997 reduced the income threshold to $175,000 for NYC and New York State.
With rent below $2000, the vacant apartment will still be classified as rent-stabilized (under certain conditions).
In addition to rent below $2000, the building must be built before 1974 and have six or more apartments.
Rehabilitated and new buildings may fall under rent stabilization – if the owner received a tax abatement. To fall under rent control, the tenant must have lived there continuously prior to July 1, 1971. If the building has fewer then six units, the building will probably be removed from regulation.
An apartment in a 1-2 family house must have been a continuous tenant since March 31, 1953 to be eligible for rent control.
If that 1-2 family house became vacated after March 31, 1953, it is removed from stabilization. Previously-controlled apartments may have been removed from stabilization for other reasons. A 1031 tax abatement, also known as a Like-Kind exchange, allows buyers to avoid paying taxes during the process of selling and buying investment property. With a 1031, there is a solid timeline that must be followed between the time that a property is sold and another exchanged. The exchange period ends when a replacement property has been successfully exchanged with the original property, not to exceed 180 days from the start of the Identification period. The principles of the 1031 tax abatement have simplified since it was originally introduced. The hardest part of following through with a 1031 exchange is finding a replacement property within the 45 days given by the IRS after relinquishing the original property.
Seek advice from a tax counsel or CPA to ensure that you’re doing what is most beneficial for your business.


Sell your original property, making sure to include a cooperation clause in the sales agreement which states that the buyer is aware that you intend to complete a 1031 exchange, and intends to cooperate with you to accomplish this at no charge.
Enter into a 1031 agreement with a Qualified Intermediary (who will be named as principal in the sale of your sold property and the resulting purchase of new property).
Send written identification of the replacement property before the 45th day to the Qualified Intermediary, the seller of the replacement property or an attorney.
Make an agreement to purchase a replacement property, again including a cooperation clause. File form 8824 with the IRS when taxes are filed, in addition to required state tax documents. As a professional Buyer’s broker, Elika Associates can assist buyers in finding properties that capitalize on the 1031 exchange. It was a seamless process and I would recommend Elika to anyone who is trying to find a home in NYC.
The New York City real estate market is one of the hottest in the country, if not the hottest. The second quarter of this year saw an unprecedented increase in all residential home sales in the New York City real estate market. Not surprisingly, the average sales price in the New York City real estate market increased significantly in one year’s time. In continuing with the trend, Manhattan condos again had the largest impact on overall sales prices in the greater New York City real estate market. The New York City real estate market is so massive, and covers such a wide spectrum of demographics, that we have decided to cover each borough individually. No more than a few months removed from the first quarter of this year, prices in the Manhattan housing market have resumed their upward trend after a short period of stagnation.
The Manhattan real estate market has benefited immensely from several key indicators: a strong local economy, employment gains, a booming tech center, tight credit conditions, low inventory and low mortgage rates. Buyers continue to be challenged by a distinct lack of inventory and the speed in which the market is moving. The Brooklyn real estate market, much like its neighboring boroughs, saw housing prices surpass previous records. It wouldn’t be right to discuss the state of the New York City real estate market without crediting Queens for its most recent contributions. If you haven’t noticed the trend by now, New York City is one of the hottest housing markets in the country. Despite being separated from the rest of New York by a sizeable bay, Staten Island has seen an uptick in real estate activity on par with the other boroughs. Small-Town Feel:While Staten Island is itself a big city, it has inherited a small-town feel.
Affordability: Rental prices on Staten Island are noticeably less than in other popular areas of the city, which would explain the recent influx of young renters. Location: There is no denying that Staten Island’s close proximity to Manhattan has made it a desirable place to live.
Selective Development: Staten Island real estate investing has seen a renewed interest in selective areas. The boroughs of New York have experienced a real estate boom as of lately, and the Bronx is no exception.
The Bronx has captured the attention of the entire New York City real estate investing community, as both commercial and real estate investors have taken a keen interest in the area. Today, the Bronx is hot on the heels of Brooklyn and Queens in today’s real estate boom, and shows no signs of slowing down. Actively investing in real estate, FortuneBuilders is uniquely built to provide investors with the right education and systems for success.
As with any global capital, New York’s luxury real estate market offers some of the most exciting opportunities to own ultra exclusive property worldwide. The New York luxury real estate market is increasingly competitive, with limited inventory continuing to drive up prices over the past few years. We have also carried out our own independent research on amenities and services, which comprises 55 per cent of each score.
In our global guide, four New York developments make it into the top 10, including our number one luxury property overall, 432 Park Avenue – set to be the tallest residential tower in the western world. Commenting on the list Ollie Williams, an analyst for WealthInsight, says:  “Today’s UHNW households live an intercontinental, global lifestyle. Industry powerhouse to spearhead expansion plans, recruitment of top talent to grow Northern, Central N.J. Colliers International's business magazineWe talk to industry experts about the evolution of the retail industry and its future.
From commercial real estate brokers to marketing professionals, IT experts and more, our career opportunities come in all shapes and sizes.
With rising property values thanks to a growing populace, international and national interest and limited landmass, New York City properties provide their owners with solid returns and insulation from unexpected global market changes.
This focused structure enables our ability to deliver best-in-class advisory services and solutions. Neighborhood amenities, transportation, property age and neighborhood features will affect investment potential. Property costs, yield and capital appreciation vary from street to street and from one development to the next. Research and experience makes a serious difference, but you can greatly improve your investment portfolio with well-planned real estate purchases. Whether you already own property or you’re looking to diversify, our investment experts will help you gather accurate information that you can use to make strong decisions. We provide a comparable market analysis, so that when you start the purchasing process, you will have confidence and complete peace of mind in your decision.
We will refer you to excellent companies that can save you money while providing top-tier services.
We service every aspect of buying, leasing and managing property in New York City, so that you can enjoy a profitable and hassle free experience.
With unequaled knowledge of the New York real estate market, Elika Associates give you unbiased information, advice and a wealth of resources that you can use to make an appropriate purchase. The most expensive property ever sold in Manhattan went for $88 million in June of 2012, and the city continues to set records for property values, rental rates and other important investment indicators. Manhattan is an especially attractive market thanks to its historical real estate resiliency and its dependable economic and cultural growth. Much of this appreciation was due to sales activity in New York City and in New York County, Manhattan in particular.
The average price per square foot of Manhattan properties peaked before the pricing correction at $1,251 in 2008.
According to the Wealth Report, a publication that provides a global perspective on prime properties, Manhattan ranks 17th among major cities for cost per square foot. According to the report, New York is second only to London in importance among global cities and will likely hold the same level of importance in 10 years. The United States friendly real estate purchasing regulations allow Manhattan to draw in a global market of buyers. The Manhattan rental agency Citi Habitats noted that Manhattan rental prices soared to $3,418 in 2011. According to a 2011 New York City Housing and Vacancy sample survey, Manhattan had a 2.8 percent vacancy rate, the lowest of all five boroughs except for Brooklyn. The average renter in Manhattan pays $3,418 per month according to an April 2012 report in the New York Times. Income figures have an obvious correlation with the ability to sell property in a major city.
New York City was named the most attractive city for business in 2009 by the Global Power City Index, ranking it ahead of other major cities including Tokyo and London. With the rising cost of real estate, an appropriate level of research and expert advice from experienced property professionals are absolutely essential when trying to maximize property value. At Elika Associates, we frequently act as buyer's agents for NRAs and help our clients organize their goals, evaluate properties and choose ownership alternatives to maximize the value of their new properties. Imputed income is an important concept in non-resident alien ownership, and we will discuss it further when addressing other purchasing options. These returns require non-resident aliens' personal information, and some people prefer to avoid income tax filings because they do not want to disclose their identities to the IRS. Your home country's tax laws will play an important role in determining whether ownership through an LLC is worthwhile. You do not pay taxes to the Internal Revenue Service, although your home country's taxes still apply. We frequently work with non-resident aliens and can recommend a variety of resources to help you take the first steps towards property ownership in New York City, including accountancy and legal professionals. Regulations limit the amount that landlords can invest into a particular property and it restricts the owners right to evict tenants.
In NYC, tenants may file a challenge (Fair Market Rent Appeal) to the initial registration (concerning rent controlled apartments becoming subject to rent stabilization for the first time). 4 of 1994 provides for deregulation - rents of $2,000 at any point - vacant on or after April 1, 1994. 4 allows deregulation - rent above $2000 - tenants' income $250,000 plus – 2 years before application.
It is meant to assist property investors in purchasing higher-priced property after a sale.
This timeline is divided into two distinctive periods, the Identification Period and the Exchange Period.
Instead of requiring that buyers sell their current property before buying a new one, the IRS has recently allowed taxpayers to complete a reverse exchange, where the buyer purchases a replacement property before selling the original property.
When you sell assets in a tax-deferred retirement plan, the capital gains are deferred until you cash out of the retirement plan. Please note that the closing agent is responsible in this case for contacting a Qualified Intermediary to order documents. This document will show the QI as the buyer, although the deed will reflect the true buyer. In addition, we can help you find a Qualified Intermediary to serve as safe harbor, as well as assist in filling out the necessary paperwork to make the deferment official. Elika has proved to be a consummate professional and shown a true and deep understanding of the Manhattan property market. Supported by a strong economy and even stronger fundamentals, New York continues to make improvements to its housing sector. At $10.4 billion, home sales in all five boroughs increased an impressive 17 percent over the course of a year.


As recently as the second quarter of 2014, the average sales price in all the five boroughs was $826,000. Over the course of one year, the sales price of the average Manhattan condo increased 31 percent to $2,353,000. The increase may be attributed to a stall in inventory growth, as bidding wars have raised prices. For these reasons, and many more, Manhattan saw increases in every housing indicator over the previous year. Today’s sales price represents the highest it has been since the market peaked in the second quarter of 2008, when sales prices reached $1,025,000. Nonetheless, sales activity is higher than the long-term average, and experts expect conditions to improve for buyers in the coming months.
The rate in which prices have appreciated served to place more homes on the market, as owners were more inclined to sell for higher profits. However, that record was short lived, as this last quarter saw sales prices raise even higher. During the second quarter, 2,539 homes were sold, which represents a 1.1 percent decrease from the previous quarter.
The northeast section of Staten Island has seen a lot of money put into development of waterfront neighborhoods. Younger generations, in particular have begun to move to Staten Island for many of the reasons listed above.
Not to be outdone by its neighboring boroughs, the Bronx has positioned itself to receive a steady flow of commercial and residential activity. Individual investors and huge developers have migrated their attention towards the Bronx and its promising future. Lauderdale on our comprehensive list with 22 new developments, the Big Apple continues to be a dynamic location in which to invest and expand your portfolio.
We go the extra step for our clients and partners, creating memorable experiences that enhance and grow our relationships. Even if you are considering two similar apartments in the same building or street one apartment might make a better investment than the other.
Elika agents can help you understand subletting requirements and avoid unsatisfactory properties. When investing, you will need a real estate agent who has access to all properties and market analysis info. Our dedicated agents will know which options will work well with your portfolio, and by extensively analyzing your needs, we will never waste your valuable time with unsuitable properties.
Purchase price is your investment’s single most controllable variable, and by understanding your budget and goals, our experts will cut costs significantly. Sales volumes in Manhattan are up 3 percent year-over-year when comparing August 2012 and 2011. The recent global financial crisis slowed down new constructions in the city, and as a result, New Yorks real estate supply is restrained. Given this analysis, property costs in Manhattan are remarkably low relative to their value.
As a direct result, sellers in the city have a larger pool of potential buyers and can make relatively safe real estate investments. For investors, rising rental prices indicates strong demand and the viability of rental property ownership, especially for those who intend to sell properties at some point. This surpasses the previous record for rental averages in New York City, which was set in 2007 before the housing market crash. The Bureau of Labor Statistics BLS reports that Manhattans average weekly wages were $2,634 in the first quarter of 2011. The powerful, growing economy of New York City is varied enough to provide real estate markets with some protection from recession, particularly in Manhattan and other neighborhoods with relatively high property costs. New York City has the largest subway system in the world, over 13,000 taxis and some of the worlds largest international airports. From July of 2011 to July of 2012, real estate inventory in the borough fell by almost 18 percent.
If you are seeking professional guidance for a real estate purchase, contact the broker's agents at Elika Associates to schedule a consultation.
If tenants get overcharged, DHCR will assign penalties including payment of interest and even payments in excess of the original amount (if willful overcharges). The Identification Period is the first 45 days of the exchange; in this time, the property to be exchanged has to be officially recognized. Positive gains were seen in all five of New York’s boroughs, and it looks as if the trend will continue. Sales in Manhattan saw the biggest increase, as they proceeded to surge 20 percent in the last year to $5.96 billion. Even in the face of steep gains, the number of sales in the same area increased a modest 2 percent.
As a result, there are few markets across the country that can rival the housing activity witnessed in Manhattan. The average price per square foot went up 5.7 percent from the previous quarter, and is now about $1,340. At this point, Manhattan should contribute immensely to New York City real estate investing, or at least to those looking at higher-end flips.
Increases in the Brooklyn real estate market are directly correlated to improving economic conditions and low, but ever-increasing inventory numbers. No more than four months ago, homes were on the market for an average of 112 days, or 34.8 percent longer. Perhaps even more importantly, however, are the proactive steps towards building a better housing sector the new mayor has taken. Over the course of a year, home values in the Bronx real estate market increased by as much as 7 percent. Over the last decade, the Bronx has experienced increasing demand for housing but unfortunately did not have the supply to meet it. It means our professionals embrace even the toughest challenges, and are relentlessly creative in solving them.
We will always provide impartial accurate information about the properties that we show, as we have a strong incentive to help our clients avoid lukewarm investments.
Wages in the borough grew by more than 9 percent during this period, exceeding the national average over the same period.
The art scene, numerous museums and other world-famous cultural attractions bring over 50 million visitors to the city annually.
Owners may raise rents up to 7.5% annually (up to the MBR limit) but they must prove that they are providing essential services to renters. In addition, renters must have their leases renewed - unless there is a legal reason for eviction. The Omnibus Housing Act required owners to initially register with DHCR including the rent and services for all rent stabilized apartments occupied between April 1, 1984 and June 30, 1984. A year later, he sells the property for $400,000, and then buys another property with that $400,000.
As such, taxpayers who have multiple properties and identify the wrong property for trade must stick with their choice. Another option, called the 95% rule, allows taxpayers to choose any number of replacement properties as long as the Fair Market Value of the properties received by the end of the exchange period is 95% or more of the total FMV of all potential properties identified.
New York City real estate investing, both commercial and residential, looks as if it will see a lot of activity in the coming months.
Total considerations for residential sales in Brooklyn jumped 10 percent, and are now approximately $2.16 billion. Recent data suggests that sales prices recently rose an additional 0.7 percent to $788,529.
Over the course of a year, the amount of time a home spent on the market declined by 36 days.
Perhaps even more importantly, sales volume continued to rise in the face of falling inventory. Bill de Blasio has launched a massive affordable housing construction campaign to contribute to the growth of New York City.
Home sales in the Bronx are highlighted by several promising areas: Riverdale, Fieldston, Parkchester, Westchester Square, and Castle Hill, Soundview.
Condominium prices rose by about 8 percent to an average of $1.81 million, among the highest in the United States.
However, to control costs and personal information disclosures, NRAs can consider several ownership options.
Under normal circumstances, the investor would have to pay taxes on the capitol gain (the $100,000 profit), leaving little money to buy a better piece of property. In addition, if Mother Nature steps in and destroys the home that was to be exchanged, the 1031 will have to be dismissed. Data highlighted by the Real Estate Board of New York’s (REBNY) Second Quarter Residential Sales Report suggests that all five boroughs saw increases in total consideration, sales volume, and average sales prices in the second quarter of 2015.
Not surprisingly, larger apartments saw prices increase at a faster rate, outpacing their smaller counterparts.
However, the number of sales remains 2.1 percent above the 2,619 ten-year quarterly average. Demand in Brooklyn should catch the attention of the New York City real estate investing community.
The Queens borough is just one example of why New York City real estate investing is such an attractive option for investors. Under a 1031 abatement, however, he can defer paying taxes on the gain until a later time, and use the entire $100,000 profit to invest in a bigger or better piece of property. The concept of a 1031 exchange is the trading of properties (one bought, one sold) without reporting whether there was a loss or gain on the transaction.
This means that under certain circumstances, taxpayers may exchange residential property for commercial property. In essence, this exchange allows buyers to borrow the amount of the gain from the government as an interest-free loan.
An exception is that property inside of the United States cannot be exchanged for property outside of the country.



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