The sale of real estate held for more than 12 months triggers Capital Gains taxes on the Net Profits of that sale. These taxes may be deferred by participating in a 1031 Tax Exchange, in essence, by purchasing property(s) to replace the one(s) being sold. However, there are stringent rules and timetables that must be complied with. This applies to the sale of commercial or investment property, but not your personal residence
Oceanside, NY Schuckman Realty has arranged the sale of a single tenant leased property at 3200 Long Beach Rd. The property features an 11,500 s/f building on a 26,000 s/f lot with dedicated parking, currently tenanted by an operating “The Learning Experience” which recently commenced a new 15-year lease term for the location
Would there be a better business landscape today for the cannabis industry had Thomas Jefferson’s concept for the U.S. banking system prevailed in 1791? At the inception of our country, there was a bitter rivalry between those that favored states’ rights and those that supported a strong central
Ronkonkoma, NY Colliers, in partnership with TRITEC Real Estate Company, has arranged the second lease at the Station Yards project. A Colliers team led by vice presidents Maria Valanzano and Steven D’Orazio, with the support of Jake Horowitz, associate vice president, represented the landlord and tenant.
Islip, NY A historic homestead in Long Island’s Bay Shore will be the site of a new assisted living and memory care community, Netherbay, financed by a HUD-insured loan from Greystone. This transaction marks the only healthcare construction loan in the United States approved by HUD in 2022, at $25.193 million
Dix Hills, NY American Investment Properties (AIP) president Ron Koenigsberg, sold ‘820 Plaza’ located at 820-826 E Jericho Tpke. for $1.15 million, price per s/f is $267. The retail strip totals 4,300 s/f and is located near the Walt Whitman Shopping Mall. The building was
Oyster Bay, NY JLL Capital Markets (JLL) has closed the sale of 195 North Bdwy., a 26.4-acre, development opportunity located in the populated hamlet of Hicksville, Nassau County. JLL worked on behalf of the seller and Steel Equities acquired the asset.
Q: We will be closing on an industrial building shortly, and will need to reconstruct approximately 12,000 s/f of office space. I have heard the construction management is a better way to build. Is it, and how does it work?
Hicksville, NY Breslin Realty negotiated the signing of a long-term lease with Five Below at 410 S Oyster Bay Rd. Five Below will be occupying approximately 10,500 s/f of the Woodbury Shopping Center, taking over part of the space that was vacated when TJ Maxx moved
Uniondale, NY Attorney Julia Lee has joined the Tax Certiorari practice group at Forchelli Deegan Terrana LLP (FDT). She has extensive experience representing clients on tax certiorari matters in various jurisdictions throughout New York State.
