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Real Estate Taxation

Ezra  Dyckman

Ezra Dyckman

Partner
Tel:(212) 903-8785 | Email | V-Card
Stuart J.  Gross

Stuart J. Gross

Partner
Tel:(212) 903-8723 | Email | V-Card
Morris L.   Kramer

Morris L. Kramer

Partner
Tel:(212) 903-8783 | Email | V-Card
Howard J.    Levine

Howard J. Levine

Partner
Tel:(202) 293-3408 | Email | V-Card
Joseph  Lipari

Joseph Lipari

Partner
Tel:(212) 903-8765 | Email | V-Card
Ronald A.  Morris

Ronald A. Morris

Counsel
Tel:(212) 903-8781 | Email | V-Card
Elliot Pisem

Elliot Pisem

Partner
Tel:(212) 903-8777 | Email | V-Card
Daniel W. Stahl

Daniel W. Stahl

Partner
Tel:(212) 903-8749 | Email | V-Card
Lary S. Wolf

Lary S. Wolf

Partner
Tel:(212) 903-8719 | Email | V-Card
Libin S. Zhang

Libin S. Zhang

Partner
Tel:(212) 903-8713 | Email | V-Card

A significant part of our practice is concentrated in the tax-sensitive real estate industry. We work with major investors and developers in every segment of commercial real estate, from construction, leasing, and financing to acquisitions, dispositions, and complex restructurings. Our clients are among the world’s largest closely held developers and family-controlled partnerships, as well as publicly traded U.S. and foreign institutions, such as REITs, banks, insurance companies, and pension funds.

We have long been at the leading edge of structuring sophisticated transactions, including tax-free exchanges, sale-leasebacks, and installment sales. We have developed novel solutions using flexible ownership structures, such as tiered partnerships, split-ownership interests, separation of land and building, equity leases and international joint ventures. We have structured domestic and international real estate investment funds that deal with the problems of both foreign and exempt investors. Our attorneys have worked extensively with financing techniques employing “securitization” of commercial real estate and interest-rate and foreign currency hedges.

Over the last few years, we have been at the forefront of the like-kind exchange boom. We have developed creative refinements to many like-kind exchange formats, including different forms of deferred and reverse exchanges. We have dealt with related party exchanges, and exchanges of partial interests in property, both within and without the tenancy-in-common context, as well as an array of safe harbor parking transactions, including multiple parking within a single exchange. We work closely with real estate attorneys and qualified intermediaries. One of our partners is author of the BNA Tax Management Portfolio: Tax-free Exchanges Under Section 1031.

Our in-depth knowledge of real estate and partnership taxation has also enabled us to assume a leadership position in helping clients access the capital markets through REITs. We have advised both property owners and REITs on UPREIT acquisitions and have been involved in major roll-up transactions. In addition to structuring initial property transfers, suggesting practical solutions to management and services issues, securing rulings from the National Office of the IRS, and rendering tax opinions, we assist REITs with their ongoing operations and compliance issues. Our clients have used private REITs in innovative ways, and we have also used the REIT structure in the foreign context, for the ownership of offshore properties, as well as to deal with problems related to the ownership of troubled U.S. properties by foreign investors. We have also represented publicly held REITs and acquirers in “going private” transactions.

We enjoy a widely respected reputation for dealing with the many transactional taxes that New York State and City apply to the ownership of real property. This includes buying, leasing, financing, refinancing, developing and disposing of properties or entities that own New York real property. Because of the breadth of our experience, we are often called upon to work with government officials and legislative committees to develop statutory provisions, regulations and administrative solutions to industry problems.

Our representation of entrepreneurs and closely held clients extends to the estate and family tax planning area. Our estate planning attorneys combine broad real estate experience with tax expertise to achieve a client’s personal and business objectives in the most tax-efficient fashion. Through the use of techniques such as partnership freezes, “defective” grantor trusts and fractionalized ownership interests, we integrate tax, estate and business planning at a level of sophistication that we believe is unparalleled.

Our attorneys are active in bar association and real estate industry activities and write regular columns on current tax developments affecting real estate. One of our partners is on the Board of Governors and chairs the Tax Policy Committee of the Real Estate Board of New York, and another has been on the Executive Committee of the Board of Governors of NAREIT, the National Association of Real Estate Investment Trusts.

by Libin S. Zhang
Published: Tax Notes, January 21, 2019
Download the file for Links to the Past: Old Exceptions to New Interest Deduction Limitations.
by Libin S. Zhang
Published: Bloomberg Insights, January 10, 2019
Download the file for Qualified Opportunity Zones: Death, Taxes, and Other Uncertainties.
by Ezra Dyckman, Aaron S. Gaynor
Published: New York Law Journal, December 26, 2018
Download the file for Opportunity Zone Talking Points for Cocktail Parties.
by Elliot Pisem, David E. Kahen
Published: New York Law Journal, December 19, 2018
Download the file for Adoption and Change of Accounting Method:
by Libin S. Zhang
Published: Tax Notes, November 12, 2018
Download the file for The Discreet Charms of the Dividends Received Deduction.
by Libin S. Zhang
Published: Tax Management Real Estate Journal, November 7, 2018
Download the file for Qualified Opportunity Zones and Select Partnership Issues.
by Libin S. Zhang
Published: Tax Notes, October 29, 2018
Download the file for Simultaneous Equations for Simpler Tax Analysis.
by Ezra Dyckman, Charles S. Nelson
Published: New York Law Journal, October 24, 2018
Download the file for The Fog Is Starting to Clear: Proposed Regulations Under §199A.
by Libin S. Zhang, Michael S. Grisolia
Published: Tax Notes, October 15, 2018
Download the file for Through a Glass Darkly: REIT Earnings and Profits.
by Ezra Dyckman, Charles S. Nelson
Published: New York Law Journal, August 22, 2018
Download the file for Déjà Vu All Over Again: New Proposed Disguised Sale Regulations.
by Elliot Pisem, David E. Kahen
Published: New York Law Journal, August 16, 2018
Download the file for Loan v. Distribution:
by Libin S. Zhang
Published: Tax Notes, August 6, 2018
Download the file for Qualified Opportunity Zones: Hot Tubs and Other Hot Topics.
by Libin S. Zhang
Published: Tax Notes, July 2, 2018
Download the file for To the Frying Pan: New Virtues of Subpart F over GILTI.
by Elliot Pisem, David E. Kahen
Published: New York Law Journal, June 21, 2018
Download the file for S Corporation Elections -- Who Decides?.
by Libin S. Zhang
Published: Tax Notes, May 21, 2018
Download the file for Marginal Income Tax Rates of the Passthrough Business Deduction.
by Ezra Dyckman, Charles S. Nelson
Published: New York Law Journal, April 25, 2018
Download the file for Tax Reform May Contain Some Nasty Surprises for Rental Property Owners.
by Ellen Seiler Brody
Published: TaxStringer, April 1, 2018
Download the file for The New Qualified Business Income Deduction Under IRC Section 199A.
by Ezra Dyckman, Charles S. Nelson
Published: New York Law Journal, February 28, 2018
Download the file for New Deduction for Pass-Through Income: Good, But Not So Simple.
by Ezra Dyckman, Daniel W. Stahl
Published: New York Law Journal, August 23, 2017
Download the file for Losing Hand For Taxpayer in Dealer Property Case.
by Michael J. Miller, Ellen Seiler Brody
Published: Tax Management International Journal, August 4, 2017
Download the file for Foreign Corporation Not Taxable on Redemption of Partnership Interest: Tax Court Rejects Rev. Rul. 91-32.
by Ellen Seiler Brody, Michael J. Miller
Published: Bloomberg BNA Daily Tax Report, August 3, 2017
Download the file for Reliance on a CPA As Reasonable Cause:
by Ezra Dyckman, Daniel W. Stahl
Published: New York Law Journal, June 28, 2017
Download the file for IRS Rules on Qualified Liabilities.
by Ezra Dyckman, Daniel W. Stahl
Published: New York Law Journal, April 26, 2017
Download the file for IRS Ruling Limits Exclusion to COD Income.
by Ezra Dyckman, Daniel W. Stahl
Published: New York Law Journal, February 22, 2017
Download the file for Regulations Address Partner Reimbursements.
by Ezra Dyckman, Daniel W. Stahl
Published: New York Law Journal, December 28, 2016
Download the file for New Regulations on Debt Share for Partnership Disguised Sales.
by Ezra Dyckman, Daniel W. Stahl
Published: New York Law Journal, October 26, 2016
Download the file for New Regulations Disregard Partnership
by Elliot Pisem, David E. Kahen
Published: New York Law Journal, June 16, 2016
Download the file for Recent Guidance Regarding Deduction of Fines.
by Ezra Dyckman, Daniel W. Stahl
Published: New York Law Journal, February 24, 2016
Download the file for Calling All Foreign Pension Funds: Congress Enacts Important Exclusion from