are you considering selling your commercial property?
OakGrove Development is the property acquisition arm of OakGrove Companies of New York LLC. We buy commercial property in Monroe County with the intent to redevelop or develop using a value add strategy.
We can purchase your property all cash or use one of our many tax deferral strategies if you have concerns about capital gains or depreciation recapture liability.
David Martin and Matt Drouin, our firm's owners believe in a WIN WIN WIN in all of our business transactions. WIN for us, WIN for the stakeholders of our developments (the neighborhood, the tenants, etc.) and WIN for you, the property owner.
Our legal and accounting teams can structure a tax efficient transaction to meet your long term wealth and tax planning goals. These tax efficient strategies are just some of what we have used in our long track record of over 20 years:
We can purchase your property all cash or use one of our many tax deferral strategies if you have concerns about capital gains or depreciation recapture liability.
David Martin and Matt Drouin, our firm's owners believe in a WIN WIN WIN in all of our business transactions. WIN for us, WIN for the stakeholders of our developments (the neighborhood, the tenants, etc.) and WIN for you, the property owner.
Our legal and accounting teams can structure a tax efficient transaction to meet your long term wealth and tax planning goals. These tax efficient strategies are just some of what we have used in our long track record of over 20 years:
- Seller Financing - If you sell your property and hold a mortgage, you can defer your capital gains and deprecation recapture on the sale. Those taxes will be paid back through what is called an installment sale. You will pay those taxes on the portion of the mortgage payment which is allocated to principal. You will pay ordinary income on the interest payments.
- DST Strategy - Utilizing this method, you would sell your property to us and then roll your proceeds into a Delaware Statutory Trust. The problem with the traditional 1031 Exchange is that you must identify a like kind asset to purchase. This program does not work for a seller if they are looking at getting out of property management altogether. Because of the 1031 Exchange's aggressive timelines, many 1031 Exchange participants end up getting into a property investment which is not ideal. A great way to use the 1031 Exchange program to elmiate these problems is to roll your sale proceeds into a DST (Delaware Statutory Trust). This allows you to purchase fractional ownership units in a large institutional class property by partnering with a national real estate investment house. In exchange, you continue to receive the tax benefits of owning real estate, receive residual income and participate in asset appreciation too. OakGrove has relationships with institutional real estate investment houses to give you a wide array of investment options which you can work with your registered investment advisor to decide which ones might be right for your long term wealth objectives.
- UPREIT - Under this strategy, you would exchange your interest in the property for ownership units in a larger portfolio of professionally managed properties. Essentially the property would be absorbed by a REIT (Real Estate Investment Trust) In exchange you would receive residual income and also have the flexibility of cashing in ownership units if the need should arise.
Please tell us a little bit about yourself and your property!
OakGrove Companies of New York LLC
Rochester, NY