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News: Front Section
Posted: February 18, 2009
Cawley and Braun of UMF broker $1.735 million multifamily sale
United Multi Family (UMF) brokered the sale of a 17-unit apartment building at 188-194 Lincoln St., for $1.735 million ($102,059 per unit).
Handled by Richard Cawley and Jason Braun of the New England office, the brick residences were built in 1967 and sold by Hallandale Realty Trust to Hancock Lincoln LLC with financing provided by Brookline Savings Bank. The CAP rate at the time of sale was 6.4% with the property having a gross annual income of $176,640.
Utilizing the 1031 tax deferred exchange the buyers were able to defer paying capital gains taxes on their recent sale of a commercial property.
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Quick Hits
Columns and Thought Leadership
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While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here are five mistakes to avoid:
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To say that the effects of COVID-19 has transformed office leasing is an understatement. When COVID-19 was at its peak, office spaces were practically abandoned either through governmental mandates or through actions taken by businesses themselves.
Make PR pop by highlighting unique angles - by Stanley Hurwitz
Coming out of the pandemic, a client with three hotels in Provincetown, Mass., needed ways to let the world know his properties were open for business for the 2021 tourist season.
Four tips for a smooth 1031 Exchange - by Bill Lopriore
Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.
