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New York

Elika adds property management division

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Gea Elika, founder of Elika Associates

Just two weeks after launching a commercial division, Elika Associates said it will open a residential property management division. The buyer’s brokerage intends to focus on management of individual apartments, townhouses or multi-family properties of up to 20 units purchased by their commercial clients.

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The management services include responding to maintenance requests and hiring repairmen, screening tenants, preparing applications and payment collection. Helen Elika will head the new management division.

Elika opened the commercial division Aug. 16 to help buyers make good investments without the conflict of interest posed by doubling as a listing brokerage, the firm’s founder Gea Elika told The Real Deal at the time. The firm was founded in 2008 and has an office at 26 Broadway. — Adam Fusfeld