30A — March 15 - 28, 2013 — Mid Atlantic Real Estate Journal
www.marejournal.com
P EOPLE ON THE M OVE
ChenAssumes presidency of Fenestration Organization
As managing directors Gebroe-Hammer appoints Oropeza and Brecher
WASHINGTON, DC — The Greysteel Co. announced the launch of its Exchange Ser- vices Division, which will be led by industry veteran Gerald “Jerry” Burg . “This is Jerry’s brainchild and we’re thrilled by his deci- sion to launch it on our plat- form,” said Greysteel CEO, Matt Schwartz . “The conflu- ence of an aging baby boomer population, increasing federal tax burdens and continuing market uncertainty caused by the ongoing fiscal cliff and deficit debates makes this program especially timely and Example 3- This example examines the effect of a mixed use property. In this case 1/3 of the property was used for business and 2/3 of the prop- erty was used as a primary residence. Again this demon- strates the use of sections 121 and 1031. These examples also illustrate the effect of cash boot and taxability of gain allocated in excess of the section 121 exclusion. The applicability of these strategies is truly unbeliev- able. Whenever a taxpayer is considering selling real estate, these goals and objectives must be considered before closing. If selling an investment, busi- MT. LAUREL, NJ — Steve Chen , executive vice president of Crystal Window & Door Systems , has become the new president of the Northeast Window & Door Associa- tion (NWDA) . Elected by the association’s board of directors, Chen took over the reins of the regional trade group at the organization’s winter meeting in Mt. Laurel. The NWDApresident’s term is for one year; however it is tradition for presidents to serve two consecutive terms. Steve Chen, a member of the NWDA board since 2010, had previously served as first vice president. NWDA focuses on issues critical to the fenestra- tion industry and represents about 100 window and door manufacturer and supplier companies. “I greatly appreciate the faith that has been placed in me to lead NWDA,” said Steve Chen. “These are challenging times for our industry. The window manufacturing and what qualifies for section 1031.
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IVINGSTON, NJ — Gebroe -Ham- mer Associates has
pany and our clients, who will benefit even more from the professionalism and exper-
building owners and a local council member. “Being a part of Gebroe- Hammer ’s sales team for the last 26 years has been extremely rewarding for me, both personally and profes- sionally,” said Oropeza. Joining Oropeza as a man- aging director is Brecher, who has supervised the firm’s multi-family investment sales activity throughout Central New Jersey and the Phila- delphia, PA, region. Since joining the firm in 2001 as an area sales associate, Brecher quickly advanced through the ranks and was promoted to VP in 2003, senior VP in 2005 and executive VP in 2008. During his tenure, he has closed more than $2 billion in multi-family transactions throughout New Jersey, New York and Pennsylvania as well as Florida, Georgia and South Carolina. Because of his strong industry relation- ships, Brecher is often at the forefront of the firm’s most complex transactions. ■ Correction: This is a rerun of a pre- viously published story that ran in the Jauary 25th issue of the Mid Atlantic Real Estate Journal. The January 25th issue ran without Joesph Brecher’s headshot. MAREJ takes full respon- sibility and apologizes to Mr. Brecher and Gebroe-Hammer Associates for the error. ing practice, Peacock Realty Advisors, and spent most of his career in a variety of real estate roles at Morgan Stanley. A resident of Pound Ridge, N.Y., Peacock received an MBA in Finance in 1986 from the Columbia University Graduate School of Business in NewYork City, and an un- dergraduate degree in 1982 from New College of Florida in Sarasota. ■ Under her leadership, ITRA Global expanded significant- ly throughout Europe, Latin America and Asia. “ITRA Global is differenti- ated by our focus on advo- cacy for the corporate user,” says Anderson. “We have experienced tremendous growth despite the challeng- ing economy of recent years and will continue to work on strategic global expan- sion to meet the needs of our clients.” ■
named Da - vid Oropeza and Joseph Brecher as managing di- rectors, an- nounced Ken Uranowitz , president. In their new role,
tise these two outstanding professionals provide.” Since join- ing the firm in 1986, Oro- peza consis- t e n t l y h a s been among
relevant,” Schwartz concluded. “This has been a historically underserved segment of the market,”remarked Burg, who said his varied professional and personal experiences made him “keenly aware of the need for a service exclusively focused on the inter-relationship between long-term personal planning and tax deferred strategies at all stages of the asset lifecycle and transaction continuum.” Prior to joining Greysteel, Burg was managing director and senior vice president at Northmarq Investment Servic- es and Calkain Companies. ■ sales business has become in- credibly complex. NWDAman- ufacturing members are faced with increasingly stringent energy efficiency standards, expanding government regu- lations, an ever-demanding marketplace, and new product and production technologies as well as slowly recovering housing and construction industries. NWDA will play a lead role in overcoming these challenges.” ■ ness, or rental property, the taxpayer must consider 1031 and reconcile their goals with the available strategies. This has always been the mantra of 1031 intermediary companies throughout the country and now more than ever, the ap- plicability of 1031 has to be, at a minimum, given adequate consideration. Now this has been extended by revenue procedure 20058-14 to include residential proper- ties. Is this procedure applica- ble, or can it be made applicable with some planning? These are the new questions taxpayers have to ask themselves. KimT. Schooley, CPA, CES is founder and president of 1031 Accommodators, LLC. ■ Steve Chen with outgoing NWDA president Chuck Scalzott.
David Oropeza Joseph Brecher
the firm’s top sales brokers. He has overseen Gebroe- Hammer’s brokerage activity throughout Northern New Jersey, where he has emerged as an inner-city market ex- pert. Throughout his career, he has sold more than $2 billion in commercial real estate, including over 20,000 multi-family units. A specialist in selling and marketing multi-family in- vestment properties, Oropeza is widely recognized for his deal-structuring expertise and industry relationships. He also has emerged as an investor advocate in the East Orange marketplace. Recent- ly, he organized and hosted the East Orange Multi-Fam- ily Investment Roundtable, an informational exchange between some of the city’s most prominent apartment- Based in Manhattan, he will manage the credit and opera- tional risk of TD Bank’s com- mercial real estate portfolio throughout the market. Peacock has 26 years of experience in real estate, banking, finance and lend- ing. Prior to joining TDBank, he served as the chief risk officer at Berkadia Com- mercial Mortgage. Peacock also served as a principal at his independent consult- est commercial real estate organizations devoted to representing corporate us- ers of space. With its service across theAmericas, Europe, Asia and the Pacific Rim, the organization is active in more than 80 international markets. On an historic note, Anderson served as Chair- man of the Board for 2010 and 2011 and was appointed 2012 Chairman Emeritus, marking the first time a woman held either seat.
the long-time Gebroe-Ham- mer professionals will con- tinue to contribute toward the firm’s dominance throughout the New Jersey, NewYork and Pennsylvania markets. “I am extremely pleased to recognize these talented in- dividuals for their significant contributions to our firm, in terms of sales dollars, units sold and market expansion, as well as supervising and mentoring sales trainees,” said Uranowitz. “Both David and Joseph have commanded the respect of their peers, as well as clients, attorneys and lenders. Their responsibilities and roles within our company have grown substantially over the years, demonstrating how a strong work ethic can lead to success. Going forward, they represent the next generation of leadership for our com-
The Greysteel Co. launches new Exchange Services led by Burg
Peakcock joins TD Bank as senior VP, market credit manager for commercial real estate
NEW YORK, NY — TD Bank , America’s Most Con- venient Bank®, has named
Luther A . Peacock as seni or v i ce p r e s i d e n t , market credit manager for Commercial Real Estate in NewYorkCity and Northern New Jersey.
continued from page 28A Exit strategies and tax planning of . . .
Luther A. Peacock
Anderson elected 2013 Chairman Emeritus for ITRA Global
MCLEAN, VA — Debra Stracke Anderson CCIM, SIOR, president of Sloan Street Advi- sors / ITRA Global , has been elected 2013 Chair- man Emeri- tus for the B o a r d o f D i r e c t o r s o f I T R A Global . ITRA Global is one of the larg- Debra Stracke Anderson
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