Many investors choose New York real estate with the intent of setting up shop in one unit and renting out the rest for income. Despite the recession, the city's business development continues at a rapid pace, especially in its thriving downtown neighborhoods such as Tribeca. In today's world market, New York City real estate is increasingly seen as one of the most secure assets money can buy. Ownership of a building in the desirable neighborhood of Tribeca will provide an investor with innumerable ways to trade, speculate and protect their previously earned capital.
Buyers who invest in Tribeca rental apartment buildings and commercial buildings also have the opportunity to reap many tax benefits, including a Tenants in Common (TIC) 1031 Tax-Deferred Exchange, which allows them to trade an investment property for that of a like-kind and then defer the payment of capital gains taxes on that property. Many other financial options, including other IRS breaks and mortgage opportunities, are also available through property ownership.
Building ownership is a worthy endeavor that affords a company strong control over their own space as well as lasting brand power. Talk to your broker today about weighing the options of buying or leasing your Manhattan Office Space.