Prime Manhattan Realty - NYC Commercial Real Estate Information

NYC 1031 Investment Property

A 1031 Tax-Deferred Exchange is a particular strategy allowed by the Internal Revenue Service in which real estate investors can trade an investment property for that of a like-kind and then defer the payment of capital gains taxes on that property. Two parties agree to enter into a business relationship and the properties exchanged must be held for productive use in a trade or business or for investment. Like-kind, refers to requirement that properties swapped must be of the name nature or character, even if they differ in grade or quality. Personal property used in the United States and personal property used predominantly elsewhere are not like-kind properties.


1031 exchange chart

A Tenants in common (TIC) 1031 Exchange is a form of real estate asset ownership in which two or more persons have an undivided, fractional interest in the asset, where equal ownership shares are not required and inherited ownership is allowed. Each co-owner receives an individual deed at closing for his or her undivided percentage interest in the entire property. A TIC owner had the same rights and benefits as a single owner of property. Exchanges often have difficulty in locating and closing suitable replacement property within the 45-day identification period and the 180-day closing period. A 1031 TC exchanges significantly reduces these risks.

Successful negotiation for NYC 1031 investment property requires extensive knowledge of the market and significant insight into the issues that can arise during the deal. To request broker assistance with 1031 Tax Exchange property for sale in New York, please fill out the form with your investment needs, budget, and requirements. A Prime Manhattan Realty broker will then create a comprehensive NYC 1031 Tax-Deferred Exchange dossier, including all the properties that fit your criteria. Apply Here

Or search Prime Manhattan’s extensive database for the perfect 1031 investment property. Search Now