News: Front Section
Posted: January 16, 2008
Linfield of United Multi Family brokers sale of 20 units for $805,000
United Multi Family brokered the sale of a 20 unit apartment building at 2-10 Temple St./19-27 Maple St. for $805,000 ($40,250 per unit).
Handled by James Linfield of the New England UMF office, the brick residences were built in the 1900s and sold by Deborah Berk & Marc Falbo to Jeffery & Pao Ling Wu. The buyers assumed the existing mortgage provided by LaSalle bank. The CAP rate at the time of sale was 12.68% with the property having a gross annual income of $158,400. Utilizing the 1031 tax deferred exchange the buyers were able to defer paying capital gains taxes on their recent sale of a multi-family in the Boston area.
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Quick Hits
Columns and Thought Leadership
Five ways to ruin a Section 1031 Like-Kind Exchange - by Bill Lopriore
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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How COVID-19 has impacted office leasing - by Noble Allen and John Sokul
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.
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.