As we’ve been reminded over the last two years, industry leaders have long feared that federal tax reform could spell the end of many of the loopholes enjoyed by developers and investors.
It became clear last fall that benefits such as the 1031 exchange would live to see another day, but as we came to learn, that was just the beginning of how the commercial real estate sector would stand to gain under President Trump’s tax overhaul. A laundry list of items in the final bill seemed to benefit the industry and even carve out special exemptions for real estate businesses, from the tax rate for partnerships and LLCs to the ability to deduct business interest.
You can read all about it in our February issue, as we’ve lined up a group of well-known experts in New Jersey to talk about what it means for the Garden State and the industry as a whole. We highlight some of the most important pieces of the new law as it relates to owners, operators and the industry’s service professionals — all with a level of detail that we hope will shed some light on the new tax landscape. In addition, our experts bring you some insight on changes that could have longer-term implications for New Jersey’s affordability crisis, which is of growing concern to leaders on both the commercial and residential sides of the business.
Our newest issue also includes an interview with executives at Bijou Properties, the Hoboken-based developer that is gradually transforming neighborhoods within the Mile Square City. We bring you an update on the firm’s newest projects, including a new commercial property that features Hudson County’s first indoor rock-climbing gym and West Elm, the high-end furniture store. Both are sure to draw new foot traffic to the lesser-known northern end of Hoboken, where Bijou has also delivered several high-end residential projects with its signature green building construction style.
Other features this month include a Q&A with Tim Touhey, a familiar face in our state who has helped guide Investors Bank’s growth in central and southern New Jersey in recent years. We also bring you a look at a new 350-room hotel under construction in Teaneck that will be hard to miss at Glenpointe, Alfred Sanzari Enterprises’ flagship business campus along I-95.
You can find those stories and more in the pages that follow. Thanks to this tax reform bill and the continued activity in the market, the year is off to a fast start for all of us at Real Estate NJ. In case you missed it last month, we launched our new Industry Roundup newsletters as a way to zero in on the state’s major commercial asset classes and highlight the top headlines in each field. We’re excited to expand our coverage on RE-NJ.com as 2018 moves along, so keep an eye on your inboxes and please keep your news and story ideas coming.
As always, please don’t hesitate to reach out with any feedback or questions. Enjoy the issue!