NEW YORK CITY-The Kalikow Group, a Long Island-based real estate developer and manager, has made its first Manhattan acquisition in almost 20 years. The firm and its joint venture partner Waterbridge Capital has closed on a 30-unit, three-building portfolio at 113-117 Elizabeth St. in Little Italy for $12.6 million, a deal that signals the company’s return to the New York market.

“Over the past 20 years, we made our mark and had our success outside of Manhattan because we believed that the real estate was being too aggressively bid up,” Greg Kalikow, vice president of Kalikow Group, tells “Now is a good time for us to get back considering that product is so scarce.”

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