The operator of a marina and restaurant property at Fort Monmouth has acquired the parcel, following approval by the agency leading the redevelopment of the former U.S. Army post.
Institutional buyers, able to see past short-term uncertainty, still finding value in New Jersey
After treading lightly for much of the past year, institutional investors appear poised to accelerate their commercial real estate spending in 2021. New Jersey and other suburban markets could benefit in the near term as buyers await the return of New York City — especially in an apartment sector that is regaining its footing after stumbling during the pandemic.
Like-Kind Exchange: What Real Property Can Do For You
The IRS recently released long awaited guidance on Sec. 1031 (like-kind exchanges) and defines what property qualifies for the deferred tax treatment. With the enactment of Tax Cuts and Jobs Act (TCJA), rules provide that no gain or loss is recognized on the sale or exchange of “real property” held in a trade or business or for investment. Prior to the TCJA, “personal property” (like automobiles, machinery or equipment) applied for the deferral. This change means a real estate investor recognizes gain to the extent of money and personal property ineligible for the tax deferral.
