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Publications

  • 1-47 of 47
  • 09/29/2017
    Emerging Trends in Residential Rental Apartments: The Advent of the Lifestyle Building
    By Michael Stoler, The Stoler Report

    An influx of new co-living and residential shared housing rental apartments throughout the metropolitan area are transforming the marketplace. This influx is in response to a desire among city dwellers to cultivate an all-inclusive in-house experience that champions community building and optimizes efficiency in tight living quarters. This issue of...

  • 09/29/2017
    New Jersey Bulk Sales Rules: For the Protection of Buyers and the State
    By Alan Goldenberg, JD, MBA, LL.M

    States are often concerned that sellers of assets, particularly those from out-of-state, will disappear with the sales proceeds without satisfying their state tax obligations. To prevent this, many states require the filing of a bulk sales notice with the taxing authority notifying it of the pending sale. This allows the...

  • 09/29/2017
    Reverse 1031 Exchanges: Stay Within the Safe Harbor or Be Prepared for Uncharted Waters
    By Andrew Cohen, JD, LL.M

    Key Takeaways from the Bartell Case

  • 06/21/2017
    Dealer vs. Investor: What Factors Are Considered and Why It Matters
    By Andrew Cohen, JD LL.M

    When real property is sold for a gain or loss, an important question to ask is whether the seller is a dealer or investor in real property. The ultimate resolution of the dealer versus investor question has significant tax implications given the current differences between the capital gain and ordinary...

  • 06/21/2017
    Meeting the Housing Needs of the Aging Baby Boomer Population
    By Michael Stoler, The Stoler Report

    Baby boomers, those born between 1946 and 1965, have brought both challenges and opportunities to the U.S. economy, infrastructure, and institutions as they have passed through each major stage of life. According to The Population Reference Bureau, the current growth of the population ages 65 and older is one of...

  • 06/21/2017
    Unintended Consequences of Trump Tax Proposal
    By Michael Lawrence, Tax Manager

    Throughout the contentious 2016 presidential race, then-candidate Donald Trump promised an overhaul of the United States tax system. He articulated a streamlined tax code with fewer income tax brackets, reduced rates, and a purge of several taxes altogether. At first glance, these campaign pledges seem to promise a boon to...

  • 03/31/2017
    The Rehabilitation Tax Credit – What Developers Need to Know
    By Stuart A. Katz, CPA MST

    Many developers of real estate projects involving the rehabilitation of older buildings or historic structures may be overlooking a valuable federal income tax credit that could help defray some of the costs of construction by offering tax credits to the investors. What is the rehabilitation tax credit and which buildings qualify? The...

  • 03/31/2017
    The Rise of Alternative Lending in Commercial Real Estate
    By Michael Stoler, The Stoler Report

    Since the great recession of 2008, commercial banks, insurance companies and other traditional lenders for commercial real estate have become much more conservative in their underwriting of financing for commercial real estate.  Banks, the traditional source of construction financing, have recoiled from lending under the impact of regulations including Tier...

  • 03/31/2017
    Why the IRS Hates Bottom Dollar Guarantees and What It’s Doing About It
    By Michael J. Greenwald, MPPM, CPA, Partner

    Bottom dollar. It conjures up images of orphans dancing across the stage in “Annie” or characters from a Damon Runyon novel. And also of bottom dollar guarantees – perhaps the last way to obtain basis in real estate and partnerships without real exposure to economic loss. The IRS believes that...

  • 11/28/2016
    Transit Oriented Developments (TOD) growing in the metropolitan area
    By Michael Stoler, The Stoler Report

    Transit Oriented Development (TOD) is rapidly sweeping the nation, especially in the tri-state area, with the creation of exciting and desirable places to live, work, shop, and dine, as well as affording recreational and cultural activities. TOD, as defined by the Transit Oriented Development Institute, is an exciting and fast growing...

  • 11/22/2016
    For Real Estate and Construction Owners, Time to Start Thinking About The Future
    By David P. McKelvey, CPA, PFS, Partner

    Running a business in real estate and construction rarely corresponds neatly with the calendar. Shifts in seasons, economic conditions, and even policy decisions affect business profitability and what an owner needs to consider as they plan ahead. With the end of the year around the corner and tax season ahead, we...

  • 08/24/2016
    FinCEN Expands Real Estate Owner Identification Mandate
    By Alan Goldenberg, JD, MBA, LL.M

    Back in January, the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued Geographic Targeting Orders (GTOs) requiring title insurance companies, subsidiaries and agents to identify the true owners of shell companies that purchase residential real estate in Manhattan for cash exceeding $3 million, and in Miami-Dade County...

  • 08/24/2016
    Shifting Consumer Habits Drive Restaurant Sector to Next Generation of Food Halls
    By Michael Stoler, The Stoler Report

    The economic recovery and shifting consumer habits have driven significant gains in the restaurant sector, aiding in the leasing of retail space around the nation. According to the CBRE research report “Restaurants: Now Serving Retail Growth,” which explores emerging trends in the restaurant sector, restaurants accounted for approximately 15% of...

  • 08/24/2016
    New York Transfer Taxes: A Cautionary Tale
    By

    Alan Goldenberg, JD, MBA, LL.M

    Readers of this publication know that I have written extensively on the New York State Real Estate Transfer Tax (RETT) and the New York City Real Property Transfer Tax (RPTT). For those less avid readers, articles can be found here and here. A recent case winding its way through the New...

  • 06/21/2016
    Repurposing Industrial Properties Continues Upward Trend in NYC Outer Boroughs
    By Michael Stoler, The Stoler Report

    Major retrofits and the repurposing of industrial buildings have become leading trends especially in New York City. The majority of the adaptive reuse is taking place in Queens, especially Long Island City; in Sunset Park and other parts of Brooklyn; and in the Bronx. An excellent example of adaptive reuse is...

  • 06/16/2016
    Late Adoption of the Tangible Property Regulations
    By Andrew Cohen, JD, LLM and Michael J. Greenwald, MPPM, CPA, Partner

    Oh, no. We’re now halfway through 2016, I haven’t filed my 2015 tax returns (fortunately they are on extension) and I never did anything about the Tangible Property Regulations (“TPR”) that became effective in 2014. Is there anything I can do? As a matter of fact, there are a number of...

  • 06/16/2016
    Utilizing Cost Segregation Studies after the Final Tangible Property Regulations
    By Andrew Cohen, JD, LLM

    The depreciation of assets can provide important tax benefits. Taxpayers prefer to depreciate assets over a shorter rather than longer period of time as this allows for a larger annual tax deduction. Building and structural components have substantially longer depreciable lives (39 years for non-residential real property and 27.5 years...

  • 03/16/2016
    Recent Tax Extenders and Guidance Affecting Real Property Owners
    By Andrew Cohen, JD, LL.M

    Over the past several months, Congress and the IRS promulgated tax provisions extending tax savings opportunities that benefit real property owners and clarifying new rules regarding the Foreign Investment Real Property Tax Act (“FIRPTA”). Some of these provisions allow taxpayers to accelerate deductions or claim tax credits. Most of the...

  • 03/16/2016
    Owner/Developers Entering the Market for Mortgage Financing
    By Michael Stoler, The Stoler Report

    With the price of commercial real estate reaching record levels, a number of prominent real estate owners and developers are joining the ranks of entities providing commercial real estate financing. Brian Cohen, a partner at Goulston & Storr’s New York Real Estate Practice, said “This market finds sophisticated real estate owners/operators...

  • 10/26/2015
    The Particulars of the 1031 Exchange
    By Andrew Cohen, Michael Stoler

    With billions of dollars of commercial real estate expected to be sold in 2015, more and more real estate owners and investors have utilized the 1031 tax free exchange to reinvest sale proceeds for like-kind property, therefore deferring the capital gains tax due. An Internal Revenue Code Section 1031 (“Section...

  • 10/26/2015
    What are the top tax impacts of owning an office condo?
    By Karl Neulinger

    When asked about the tax impacts of owning an office condo, it usually depends on the specific circumstances of the case at hand. However, it is important to be aware that in many cases it is more advantageous over time to own, rather than lease, an office condo. In a simplified...

  • 10/26/2015
    The Benefits of Office Condominiums in Manhattan
    By Michael Stoler

    With real estate prices at an all-time high in Manhattan, city occupants are looking to a different type of asset class: office condominiums. As demand continues to rise for these petite office locales, the price is on its way upward as well, with the average price per square foot at...

  • 10/26/2015
    Q&A: I filed a Form 3115 but discover that I need to make changes to it, now what?
    By Andrew Cohen, JD, LL.M

    With the September 15, 2015 filing season now behind us, one thing that stands out is how proper implementation of the final Tangible Property Regulations yielded large benefits – allowing taxpayers to deduct assets that were previously capitalized and/or to correct prior year mistakes in depreciation. Taxpayers who went through...

  • 07/20/2015
    Q&A: When is mortgage interest NOT deductible?
    By Karl Neulinger

    When is mortgage interest NOT deductible? Friedman LLP’s Karl Neulinger focuses on this question, which many home owners don’t even know they should be asking. The following transcribes a recent conversation Karl had with a client concerning mortgage interest and how it can impact tax returns.

  • 07/20/2015
    Five Highlights You Should Know About in New York's Pending Omnibus Housing Bill
    By Alan C. Goldenberg

    With its summer recess approaching, the New York State legislature passed an Omnibus Housing Bill containing a number of benefits for real estate developers and owners. The legislation is currently pending, subject to Governor Cuomo’s approval. In the meantime, here are five of the highlights that, if approved, will affect local developers and land owners.

  • 07/20/2015
    Real Estate Investors Flocking to Israel to Finance Commercial Investments
    By Michael Stoler

    Hundreds of real estate owners and developers are traveling to Tel Aviv, Israel to meet with investment bankers that source capital. The mission is to launch a bond that will be traded on the Tel Aviv Stock Exchange (TASE) to raise funds for US real estate projects.

  • 07/20/2015
    The Tricks and Traps of Using Qualified Personal Residence Trusts (QPRTs)
    By Scott Testa

    With real estate values on the rise, now may be a good time to transfer your treasured family home to a Qualified Personal Residence Trust (QPRT).  While using QPRTs can help reduce estate taxes, the ins and outs are complex. Here’s a guide to help answer some of the questions that may arise.

  • 05/11/2015
    Co-working Office Space Growing by Leaps and Bounds
    By Michael Stoler

     

  • 05/11/2015
    International Investment in the U.S. Commercial Real Estate Market
    By Michael Stoler

    The U.S. commercial real estate property market has been expanding since 2010 following the recession, and it’s safe to say that the market has officially returned.  The combination of the positive fundamentals in the U.S. commercial real estate market coupled with foreign investors’ interest in investing their capital in the...

  • 05/11/2015
    Real Property Dealer v. Investor: An Overview
    By Andrew Cohen, JD, LL.M

    A taxpayer’s activities and intentions when purchasing and selling real property are important in determining whether that taxpayer is a dealer or investor in real property. This distinction is relevant, since it determines the tax treatment of the gain on the sale of real property. If the taxpayer is a...

  • 01/21/2015
    Real Estate Leaders are Once Again Bullish for the New Year
    By Michael Stoler

    As we enter the New Year, real estate and business leaders, as well as economists, are asked to provide their prediction for the next 12 months. This is indeed a difficult task especially when many unexpected events took place in 2014.

  • 01/21/2015
    EB-5: A Mechanism for Providing Capital for Public and Private Real Estate Projects
    By Michael Stoler

    Construction is reaching record levels in the metropolitan region and around the nation. Developments are in various stages of progress in the five boroughs, as well as New Jersey, Long Island and Westchester County. Currently and over the past five years, one of the major sources of capital for these projects has been provided by the EB-5 (Employment-based 5 Category) program established by Congress in 1990 as a method of bringing in foreign capital and creating jobs.

  • 11/10/2014
    Staten Island and the Bronx: Undergoing Major Developments
    By Michael Stoler

    New York City’s first discount outlet center,the world’s tallest observation wheel, the first new shopping mall built in New York City in the past 40 years, and a 750,000 square-foot building that will house nine ice skating rinks, are just a few of the commercial developments taking place in the boroughs of Staten Island and the Bronx.

  • 11/10/2014
    The Lottery of Finding an Affordable Apartment in New York City
    By Michael Stoler

    The City of New York’s recently issued Housing New York: A Five Borough, Ten-Year Plan reported that New York City’s shortage of affordable housing has reached a crisis point. Most New Yorkers now have limited options for housing and have to spend an unacceptably high share of their income just...

  • 11/10/2014
    An Overview on New York State Real Property Tax Credits Available to Business Entities
    By Andrew Cohen

    Tax credits are valuable to taxpayers as they provide dollar- for- dollar reductions in taxes which in turn can generate large tax savings and often cash back. New York State has enacted several real property tax credits that affect commercial properties which warrant consideration.

  • 07/21/2014
    These prices are insane: How high can the market go?
    By Michael Stoler

    One thing is certain: the current pricing for commercial real estate assets have reached an all-time high. Few real estate leaders who have experienced the ups and downs of recessions and cycles have ever seen these record levels for all forms of real estate properties.  In my conversations with real estate leaders, many are embracing the former television commercial pitch of radio DJ Jerry Carroll, when he represented the Crazy Eddie electronic stores, stating “these prices are insane”. Surprisingly while these prices may be insane, few real estate leaders believe that pricing will drop in the foreseeable future.

  • 06/05/2014
    Crowdfunding: Opportunity or Risk for Individual Investors?
    By Michael Stoler

    Would you like the opportunity to own a piece of residential or commercial real estate or make an investment in a mortgage loan? Today, investors around the country are receiving e-mails and other solicitations, as well as hearing from the media, about the opportunities to invest in the booming real estate market.

  • 06/05/2014
    Conversion of Real Estate for Alternative Use Throughout New York City
    By Michael Stoler

    The real estate market in New York City has recovered from the recession of 2008. The improvement has marked a rapid conversion of office buildings, hospitals, parking garages and other asset classes into luxury rental and condominium residences, hotels and in certain instances specialty office space. The conversion of properties is taking place in each and every borough especially in Manhattan, Brooklyn and Queens.

  • 06/05/2014
    Grow NJ Credit: An Aggressive Campaign by New Jersey to Retain and Attract New Businesses
    By Andrew Cohen

    New Jersey has committed in a big way to attracting new businesses to the state, and retaining those that are already there. In fact, the mere threat by a New Jersey business to leave the state can reap a large tax credit. The program at the forefront of this effort is, appropriately, called Grow NJ, or the Grow New Jersey Assistance Program.

  • 05/30/2014
    NYC Real Property Income & Expense Statements
    By Alan Goldenberg

    The New York City Department of Finance requires owners of income-producing property in New York City, that have an assessed property value of more than $40,000, to file an annual Real Property Income and Expense (RPIE) statement. A net lessee, responsible for all the real estate taxes on a New York City property, may file in lieu of the owner. By law, 2013 RPIE statements must be filed electronically by June 2nd. Statements for 2014 will be due June 1, 2015.

  • 01/23/2014
    Real Estate Leaders Bullish for 2014
    By Michael Stoler

    It is January, a time when leading economists provide their predictions for the next twelve months.

  • 01/23/2014
    Retail: One of the Most Sought Out Assets to Own in New York City
    By Michael Stoler

    New York City saw 54.3 million visitors in 2013, an all-time tourism high for the five boroughs, and a 54% increase since Mayor Bloomberg took office twelve years ago.

  • 01/23/2014
    Final Repair Regulations and Leasehold Properties - An Overview
    By Andrew Cohen

    The final tangible property regulations published by the Internal Revenue Service on September 19, 2013, provide important guidance on the tax treatment of repairs made to tangible property.

  • 10/16/2013
    Want to qualify as a real estate professional? Substantiate now
    By Andrew Cohen

    Real estate rental activities are considered passive activities for all taxpayers except qualifying real estate professionals.

  • 07/22/2013
    In New Yorks Outer Boroughs, the Need for More Retail Space Continues
    By Michael Stoler

    With millions of residents and more than 52 million visitors shopping annually, New York City is considered the world’s top retail location.

  • 07/22/2013
    Healthcare is Heading to the Mall
    By Michael Stoler

    The retail mall, home of department and specialty stores, food courts, health clubs and assorted retailers, is slowly becoming the home of medical practices...

  • 07/22/2013
    Yes, There is a Benefit to Commuting into New York City
    By Andrew Cohen

    New York City offers many job opportunities in the field of real estate that are coveted and highly sought after by job candidates.