JMF Properties, one of New Jersey’s leaders in residential and commercial redevelopment, has emerged from 2019 with a growing roster of brand-name retail and hospitality tenants.
Morristown has become one of New Jersey’s premier transit-oriented areas situated within a unique urban/suburban setting. Morristown’s 24/7 vibrant downtown is defined by its walkable and rapidly growing retail and residential developments. The heart of the commercial corridor surrounds the Morristown Green, a two-and-a-half-acre park that is bordered by upscale housing, office towers along with many restaurants and shopping options, attracting a high concentration of millennials.
The New Jersey industrial real estate market has been a model of consistency for the past three years. So, it should come as no surprise that the market had another strong performance to close out the decade, as healthy demand for large blocks of space helped keep absorption positive for the 28th consecutive quarter.
Here in New Jersey, we need energy to heat our homes and power our modern lives. However, recently introduced public policy could mandate that consumers could lose choice and be forced to convert to a significantly more expensive form of energy — in fact, it could double your monthly bill. In a recent poll about this very subject, New Jersey residents made it loud and clear that they want to make their own decisions in how to provide energy for their homes.
With the presidential election now less than a year away, 2020 promises to be a year in which politics is difficult to escape. But before businesses and individuals rush to engage in political activity and make political contributions at the county and municipal levels, it is important to review New Jersey’s pay-to-play laws. Because what the real-estate world doesn’t know about political contributions may come back to hurt it.
The management team at Baridge House, a 17-story condominium building in Hackensack, called on RenuKrete to repair and transform two garage hallway floors. Once the integrity of the concrete floor below the tile was established, the RenuKrete team turned its attention toward the aesthetics of the concrete floor and began to install the tile patterns into the existing slab, revealing the unexpected beauty of the previously inconspicuous concrete.
When the Tax Cuts and Jobs Act was passed, a new tax deferral vehicle was created where taxpayers could defer paying tax on capital gains income by reinvesting these gains into Qualified Opportunity Zones (QOZ’s) through an investment into a Qualified Opportunity Fund (QOF). This new provision in the Internal Revenue Code has many taxpayers curious as to how they may be able to benefit from QOZ’s. With this curiosity, the question of whether QOZ incentives are better than Section 1031 exchanges for real estate reinvestments is often asked. The answer to this question is “it depends” on the specific facts and circumstances of your particular tax situation. This article will focus on the positives and negatives when comparing these types of tax deferred reinvestments to assist in drawing some conclusions.
It’s been very well publicized that the Tax Cuts and Jobs Act (TCJA) enacted a new opportunity to incentivize real estate investment and development in low-income communities across the country. In October of 2018, the IRS published proposed regulations on this program that provided direction to taxpayers, although many questions were left unanswered. In April of 2019, the IRS sought to address many of those questions by publishing a second set of proposed regulations which provided needed clarity on conducting an operating business within a Qualified Opportunity Zone (QO Zone) and structuring a Qualified Opportunity Fund (QO Fund).
Several bills affecting the long-term tax exemption statute are slowly making their way through the New Jersey Legislature. While each bill addresses different provisions of the statute, the common theme among them is one of restrictiveness.
Some experts say there is a good chance an economic downturn or recession will happen within the next two years, making it logical to begin bolstering protections. What steps can real estate professionals take now that will help them get through a recession and come out the other end even stronger?