Manhattan real estate is viewed as an investment safe haven, and investors usually try to maximize tax efficiency when buying and selling. One way seasoned investors deal with taxes at the time of sale is via a 1031 Exchange strategy. The 1031 Exchange tax code allows investors to sell one property and reinvest the proceeds in another “like-kind” property without incurring capital gains taxes at the time of sale.
Read the full article here: Investing in Manhattan real estate using 1031 Exchange strategy
About:
Wei Min Tan is a Manhattan, New York property broker focusing on global investors of Manhattan condominiums. Wei Min has been interviewed by CNBC, CNN, Wall Street Journal and New York Times on the Manhattan property market. Wei Min can be reached at tan@castle-avenue.com
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