No bueno.
No bueno.
Sells in 2021 for $5m.
Exchanges into 123 broadway for $9m w $6m of debt.
Has to sell 123 broadway in 2024 and market is willing to pay $6m.
~$0 cash from sale, but tax basis is ~$3m (maybe lower with sweet depreciation)?
Sells in 2021 for $5m.
Exchanges into 123 broadway for $9m w $6m of debt.
Has to sell 123 broadway in 2024 and market is willing to pay $6m.
~$0 cash from sale, but tax basis is ~$3m (maybe lower with sweet depreciation)?
Buffs are legit!
Buffs are legit!