Real Estate Crowdfunding: Is this Option the Right Choice for Your Business?

By Wiss, Posted in Real Estate

By Darin Valentine Until recently, developers seeking financing for a hotel, office building, or other project had two primary options to obtain most of the funding for their project: Take out an interest-bearing loan, or find a large investor willing to fund the project in exchange for significant equity. But in 2012, a new law opened the door to another source of real estate financing — crowdfunding. Real estate crowdfunding allows developers to tap into a larger pool of investors, anywhere from a... read more.

The Maturing Cybersecurity Dangers in Commercial Real Estate

By Wiss, Posted in Real Estate

By Alexander J. Narcise and Robert Risk The real estate world has become increasingly exposed to cyber-attacks given the increase in the amount of multi-family properties that have been developed over the last few years. Developers who were never before in the multi-family market are now collecting personal data from thousands of individuals. Even commercial properties possess very private tenant financial information that could cause harm if penetrated, and regular insurance alone does not cover a loss fr... read more.

PILOT Programs in New Jersey

By Wiss, Posted in Real Estate

By Alexander J. Narcise and Michael Kroll Under New Jersey’s Payment In Lieu of Taxes (“PILOT”) program (N.J.S.A. 40A:20-1), many distressed areas of the state are seeing a resurgence. The PILOT program allows municipalities to exempt developers from property taxes for a set period of time when making improvements to existing buildings or creating new projects in areas in need of redevelopment, aiming to encourage commercial, residential, and industrial development. Developers would pay a... read more.

New Jersey ERG Program can Prove Lucrative for Qualifying Redevelopment Projects

By Wiss, Posted in Real Estate

By Alex Narcise and Darin Valentine Residential and commercial developers are constantly in need of funding and many qualifying New Jersey developers have taken advantage of a program offered by the New Jersey Economic Development Authority (NJEDA). If you’re considering undertaking a redevelopment project in a qualifying economic and redevelopment, and grant incentive area in New Jersey, a program offered by the NJEDA could generate a significant amount of cash assistance if you meet their eligibili... read more.

Know Your NYC Zoning Regulations to Discover the Value of Your Property

By Wiss, Posted in Real Estate

By Kyle Pennacchia If you’re a property owner in New York City, knowing your local zoning regulations and how it applies to your property is extremely important. People often think that only developers need a good working knowledge of the regulations, but that’s simply not true. Even if you purchased (as opposed to constructed) your current building and have no inclination to undergo construction or alterations of any kind, knowledge of the regulations can pay off if you are ever given an offer... read more.

The "Sexy" Career Path of Real Estate Accounting

By Wiss, Posted in Real Estate

By Wiss Associate I got into the field of real estate accounting for one good reason: I was majoring in accounting at Rutgers-Newark, working nights at a warehouse and looking for a part-time job that would let me use more of what I was learning at school. The first offer I got was for an internship with a real estate accounting firm. That turned into my first career job out of college and that’s what I’ve been doing for the last 15 years. If you’re just starting out and exploring career... read more.

How to Tell Which New York City Apartments are Rent Regulated

By Wiss, Posted in Real Estate

By Kyle Pennacchia More than 56 percent of New York City residents are burdened by spending more than one-third of their income on rent and utilities according to a recent New York City Housing and Vacancy Survey. The challenge current landlords and city officials face is making the rental market within the city limits profitable, while also keeping rental rates affordable and readily available for all New York City residents.  Owning a residential building in New York City can be very lucrative, but... read more.

How to Take Advantage of the 45L Energy Efficient Home Tax Credit

By Wiss, Posted in Real Estate

When and why residential real estate developers should consider it By Alexander Narcise  The Federal Section 45L Energy Efficient Home Tax Credit is relatively new and little known, but those who take advantage of it can reap substantial benefits.  Here are two examples of 45L tax outcomes:  After due diligence, a housing developer in Connecticut received a tax credit of $2,000 for each of its 144 units. A 296-unit development in New Jersey is in the process of receiving a $592,000 tax... read more.

A Cost Segregation Study May Save you Thousands on your Commercial Real Estate

By Wiss, Posted in Real Estate

By James Jenco  If you own virtually any kind of new construction or existing commercial real estate — housing, retail, industrial, institutional, health care, etc. — you may be able to realize tax and cash flow benefits that can come from conducting a cost segregation study. As an owner, you are already taking advantage of depreciation for tax purposes. For instance, if you own a $10 million building, you can depreciate that asset and take an annual federal tax deduction of that value ov... read more.

Finding the Right IT Tool for Real Estate Management

By Wiss, Posted in Real Estate

By Alexander J. Narcise  If you own a real estate investment or property management firm and are reluctant to take on the time-consuming hassle of running a financial report, it’s time to upgrade your accounting software system. Off-the-shelf accounting software systems don’t know your business. They don’t speak your language. They can’t respond to requests for construction project accounting or help you manage leases, issue tenant arrears reports or run a partner distribution... read more.

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