Real Estate Perspectives - Winter 2020 - Marks Paneth

Real Estate Perspectives


Welcome The year 2020 is here, and the dawn of this new decade may find real estate profes- sionals still struggling to adapt to the myriad of changes introduced toward the end of the 2010s. Just as my colleagues and I (and the rest of our industry) began to unravel the complex tax and accounting challenges introduced with the TCJA, such as the Opportunity Zones program, 199A deductions and more, on came legislative reform powerful enough to give us whiplash—new rent regulation laws and energy efficient policies of such magnitude that we will all be affected for years and decades to come. My comfort is that Marks Paneth has been closely monitoring these developments (as well as many other trends that we’ve identified within this issue) since their outset, giv- ing us a unique ability to advise clients in a way that is both deeply personal and of the most benefit to your business and your bottom line. Even as new concerns and new opportunities arise, especially in the areas of technology and innovation, the firm’s expanded resources allow us to continue bringing you cutting-edge insights like the fascinating data analytics article our Technology Services Group professionals contributed to this issue. Of course, I know that April and filing deadlines are approaching, and some of you may have only tax planning and compliance on the mind, so remember this: Whether you are a developer participating in complex tax programs like 421a or an individual looking for credits you may never have considered, our professionals are here and as ready as ever to help you reach your goals. Let's keep the conversation going!


2 20/20 Vision: A Closer Look at COMMERCIAL REAL ESTATE TRENDS Darya Shneyder Erin Kiernan 5 AFFORDABLE HOUSING : State of the Industry Gina Citrola 8 The Evolution of the 421 a TAX EXEMPTION PROGRAM Vivian Martinez Matthew Hausman 12 Real Estate PARTNERSHIP DEBT FINANCED DISTRIBUTIONS and the Effects of INTEREST TRACING Steve D. Brodsky 14 Don’t Overlook VALUABLE TAX CREDITS This Year Anthony DelValle Shmuli Fromovitz 17 ANALYTICS —Friend or Foe? Dean Boyer



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