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  David Wolfe Co-managing Partner
OUR CLIENTS
S&W represents commercial, multifamily, industrial, hotel and hospitality taxpayers in property tax-related matters. Our clients include virtually all categories of property owners, including developers, management companies, financial institutions, REITs, retail companies, hospitals, universities, religious institutions, and private equity firms.
S&W has an extensive transactional and capital markets practice in which we provide property tax underwriting and due diligence. As such, S&W provides tax counsel to institutional and private investors and commercial brokers on the majority of significant market transactions in New Jersey.
ON THE HORIZON
Unfortunately, the proliferation of municipality-initiated increase cases is among the largest areas of growth
for S&W’s property tax department. As municipalities focus their attention on their largest taxpayers, S&W is helping these clients defend increase appeals. In Jersey City alone, we are currently defending increase appeals filed against more than $490 million of assessments.
AT A GLANCE...
HEADQUARTERS: 293 Eisenhower Pkwy, Livingston, NJ 07039
YEAR FOUNDED: 1961
NUMBER OF ATTORNEYS INVOLVED IN PROPERTY TAX APPEALS IN
NEW JERSEY: 7
OTHER AREAS OF EXPERTISE IN COMMERCIAL REAL ESTATE: Skoloff & Wolfe (S&W) performs tax projections and due diligence, represents non-profits in tax exemption matters, and guides clients in negotiating long-term abatement agreements.
We are actively litigating the constitutionality of
these matters. Specifically, S&W is seeking a judicial declaration that these matters violate the Uniformity Clause of the New Jersey Constitution, and the Equal Protection guarantees of the United States Constitution.
Commercial and institutional property owners trust S&W to defend their interests in these matters, given their complexity and the firm’s extensive trial, Appellate and Supreme Court experience.
TRANSACTION SPOTLIGHT
The Skoloff & Wolfe property tax team recently reduced the assessment on a new luxury hotel from $421 million to $259 million. In addition to achieving tax savings in excess of $13.5 million dollars, the multiyear settlement enabled the client to successfully execute its investment and development thesis.
S&W was able to resolve the matter at $259 million, following multiple days of mediation and despite the reported construction costs exceeding $400 million. The S&W team utilized its extensive experience representing hotel operators and developers together with its understanding of the applicable valuation methodologies in its approach to this matter. Notably, S&W was able to negotiate this dramatic reduction while maintaining a positive working relationship with the local taxing authority.
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