Wilk Real Estate helps investors with the real estate side of a 1031 exchange — selling the existing investment property and finding, negotiating and closing on replacement real estate in New York and South Florida.
A qualifying exchange can allow an investor to defer recognition of gain and keep more equity working in the next investment property, subject to IRS requirements and professional tax advice.
When a transaction qualifies, tax recognition may be deferred rather than recognized immediately at the sale, potentially leaving more capital available to reinvest.
Investors may be able to move from one qualifying property type or market to another and reposition their real estate portfolio.
Sell qualifying investment real estate in New York and potentially acquire qualifying replacement property in Florida, subject to the exchange requirements.
Replacement property generally must be identified within 45 days after transfer of the relinquished property.
The replacement property generally must be received within the applicable 180-day exchange period, subject to the federal tax-return timing rule.
Pricing, marketing, negotiation and transaction coordination.
We work alongside your qualified intermediary, CPA, attorney and closing professionals on the real estate side.
Search for multifamily, commercial, condominium, rental, land and other qualifying investment opportunities.
Offer preparation, negotiation, contract coordination and support through closing.
Sometimes. A buyer completing a 1031 exchange may be highly motivated because strict deadlines apply.
That motivation can sometimes contribute to a stronger, cleaner or more competitive offer. It does not guarantee a higher sale price, but it can create an advantage when timing and property fit are important to the buyer.
Albert Wilk is a licensed real estate broker in both New York and Florida. Wilk Real Estate can assist with the real estate side of your New York sale and your South Florida replacement-property purchase.
New York to South FloridaABR®, RENE • Broker & Owner, Wilk Real Estate 1 LLC
(516) 532-1816
New York: (718) 376-0606
South Florida: (305) 699-8998
Albert Wilk, ABR®, RENE • Licensed Real Estate Broker in New York and Florida.
Albert Wilk began working in real estate in 1984, opened his first office in 1986, and opened Wilk Real Estate in 1987.
He has represented buyers, sellers, landlords and investors in residential, commercial and investment real estate in New York and South Florida.
Your approved Albert Wilk photo should be inserted here before the site is published. No substitute portrait will be used.
A practical overview for real estate investors.
Internal Revenue Code Section 1031 can allow qualifying real property held for investment or productive use in a trade or business to be exchanged for other qualifying real property, with recognition of gain deferred when federal requirements are satisfied.
The property generally must be held for investment or productive use in a trade or business.
For U.S. real property, like-kind is broader than simply buying the same property type.
In a standard deferred exchange, a qualified intermediary commonly handles the exchange funds and documentation.
Potential advantages for investors, buyers and sellers.
A seller who is not doing a 1031 exchange may still benefit when the purchaser is a 1031 investor. A 1031 buyer is often working under strict identification and closing deadlines and may be especially motivated to complete a suitable transaction. In some situations, that motivation can contribute to a stronger, cleaner or more competitive offer.
Key federal rules to review with your qualified intermediary and tax professionals.
| Rule | General Requirement |
|---|---|
| Qualified use | Relinquished and replacement real property generally must be held for investment or productive use in a trade or business. |
| Like-kind | Qualifying U.S. real property can generally be like-kind to other qualifying U.S. real property, subject to the facts and law. |
| 45 days | Replacement property generally must be identified in writing within 45 days after the transfer of the relinquished property. |
| 180 days | The replacement property generally must be received within the applicable 180-day exchange period, subject to the federal return deadline rule. |
| Qualified intermediary | In a standard deferred exchange, a qualified intermediary is commonly used to hold and transfer exchange funds. |
Investment-property search and buyer representation in New York and South Florida.
Apartment buildings and rental property.
Retail, office, mixed-use and other commercial real estate.
Income-producing condominium opportunities.
Land and development opportunities where appropriate.
Real estate brokerage assistance across both markets.
Albert Wilk is a licensed real estate broker in both New York and Florida. Wilk Real Estate can assist with the real estate side of the sale in New York and the replacement-property purchase in South Florida.
Miami, Miami Beach, Sunny Isles Beach, Aventura, Hallandale Beach, Hollywood, Fort Lauderdale and surrounding Miami-Dade and Broward communities.
Common questions about Section 1031 real estate exchanges.
Speak directly with Albert Wilk about your real estate plan.
(516) 532-1816
New York Office
626 Avenue U, Brooklyn, NY 11223
(718) 376-0606
South Florida Office
5601 Collins Ave., Unit CU-1-2, Miami Beach, FL 33140
(305) 699-8998