globest.com

Error

An error occurred while fetching the data.

Error details: Error: INTERNAL_ERROR for 5782ba72-7340-dda0-0306-a1eee9f8e4f9: {"response":{"errors":[{"message":"INTERNAL_ERROR for 5782ba72-7340-dda0-0306-a1eee9f8e4f9","locations":[{"line":115,"column":7}],"path":["youmightlike"],"extensions":{"classification":"INTERNAL_ERROR"}}],"data":{"articleData":{"uri":"/2018/04/12/west-orange-law-firm-sees-opportunities-for-investors-in-opportunity-zones/","canonicalUrl":"https://www.globest.com/2018/04/12/west-orange-law-firm-sees-opportunities-for-investors-in-opportunity-zones/","generatedId":"gdl45idlj","naturalId":"blogAndPostId/blog/post/308-5086","recombeeId":"308-5086","type":"ARTICLE","postFormat":null,"kickerPresentedBy":{"label":"","value":""},"breadcrumb":[],"presentedBy":"","title":"West Orange Law Firm Sees Opportunities for Investors in Opportunity Zones","readtime":"4","timeToRead":"4 minute","prettyModified":"","prettyDateTime":"April 12, 2018 at 07:01 AM","needToKnow":[],"byline":"Steve Lubetkin","nofollow":false,"showDisclaimer":true,"authors":[{"name":"Steve Lubetkin","description":"Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com <a href=\"http://statebroadcastnews.com/2018/04/25/sbn-garners-four-journalism-awards-for-broadcast-radio/\">has been honored by the Garden State Journalists Association</a>, and he has also been recognized for video <a href=\"http://statebroadcastnews.com/2016/06/13/sbn-wins-second-award-from-society-of-professional-journalists-nj-chapter/\">by the New Jersey Chapter of the Society of Professional Journalists</a>. He has produced audio podcasts on CRE topics for <a href=\"https://lubetkin.net/categories/client-podcasts/nar-commercial-division/\">the NAR Commercial Division</a> and the CCIM Institute. \r\n\r\nSteve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. \r\n\r\nSteve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of <a href=\"http://www.statebroadcastnews.com/\">StateBroadcastNews.com</a>, a division of The Lubetkin Media Companies LLC. \r\n\r\nSteve has been the computer columnist for the <a href=\"http://www.jewishvoicesnj.org\">Jewish Community Voice of Southern New Jersey</a>, since 1996. \r\n\r\nSteve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, <a href=\"http://www.thebusinessofpodcasting.com\" />The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional</a>.\r\n\r\nYou can email Steve at <a href=\"mailto:[email protected]\">[email protected]</a>.","imageLarge":"https://www.almcms.com/contrib/content/uploads/sites/308/2018/08/Steve-Lubetkin_avatar_1534593738-136x136.jpg","webUrl":"/author/profile/-/"}],"publication":"Globe Street","kicker":"Video","kickerNode":[{"name":"Video","slug":"video-kicker","uri":"/video/","sectionName":"Video"}],"prettyDate":"April 12, 2018","pubDate":"2018-04-12 07:01:19:000","modifiedDate":"","isDownload":"false","primaryCategory":{"channelName":"","sectionName":"","name":"","uri":"","slug":"","channelUri":""},"tags":[],"image":{"uri":"https://images.globest.com/contrib/content/uploads/sites/308/2018/04/Aylward-Giantomasi616x372.jpg","width":"616","height":"372","alt":""},"embed1":"","embed2":"","summary":"Watch our exclusive video interview with attorneys Frank Giantomasi and Sean Aylward. The program provides the biggest advantage for investors with highly appreciated assets, Sean Aylward says.","categories":[],"allCategories":[{"sectionName":"New Jersey","channelName":"GlobeSt Market"},{"sectionName":"Office","channelName":"Globest Sectors"},{"sectionName":"Retail","channelName":"Globest Sectors"},{"sectionName":"Industrial","channelName":"Globest Sectors"},{"sectionName":"Multifamily","channelName":"Globest Sectors"},{"sectionName":"Exclusives","channelName":"GlobeSt Sections"},{"sectionName":"Feature","channelName":"GlobeSt Sections"},{"sectionName":"Video","channelName":"Kicker"},{"sectionName":"Video","channelName":"GlobeSt Thought Leaders"},{"sectionName":"Video","channelName":"Kicker"},{"sectionName":"Video","channelName":"GlobeSt Thought Leaders"}],"bodyArray":["<a href=\"https://images.globest.com/contrib/content/uploads/sites/308/2018/04/Aylward-Giantomasi616x372.jpg\" xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\"> <img class=\"size-full wp-image-5088\" src=\"https://images.globest.com/contrib/content/uploads/sites/308/2018/04/Aylward-Giantomasi616x372.jpg\" alt=\"Sean Aylward, left and Frank Giantomasi, members of the law firm Chiesa Shahinian & Giantomasi, West Orange, NJ\" width=\"616\" height=\"372\"/></a> WEST ORANGE, NJ—Qualified Opportunity Zones in New Jersey's economically disadvantaged cities present a complex planning challenge for real estate investors, but the generous tax treatment of investments in those zones make it worth taking a look, according to real estate investment experts at the law firm of Chiesa Shahinian & Giantomasi in West Orange. In an exclusive video interview with GlobeSt.com, firm members Francis J. Giantomasi and Sean M. Aylward say investors should start setting up Opportunity Zone Funds so they are ready to invest in real estate in the 169 zones designated by Gov. Phil Murphy last month, once rules and procedures are established. All of the zones Murphy listed were approved, and represent economically challenged areas in all 21 of New Jersey's counties, according to New Jersey Future. “We're seeing this as a dramatic incentivization for what I'll call challenged urban development or challenged opportunities of development,” says Giantomasi. “Sean likes to say that it's a cousin of the 1031 program, and that tax deferral will incorporate tax basis additives and delaying of when the taxes are ultimately due.” “You can roll over the gain from a sale of any type of asset, it could be an appreciated stock portfolio, it could be existing real estate, it could be artwork, and as long as you roll that gain over within 180 days itself into a qualified opportunity fund, you will be eligible for deferral of that gain, a potential step up in basis to that gain, and ultimately the exclusion of the gain that you earn on that investment if you hold the investment for a period in excess of 10 years,” says Aylward. “So it's real tremendous incentives that are being provided to encourage these investments in low income communities.” <hr xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\"/> You can watch the complete interview with Frank Giantomasi and Sean Aylward in the player below. <iframe src=\"https://player.vimeo.com/video/263931253?title=0&byline=0&portrait=0\" width=\"640\" height=\"360\" frameborder=\"0\" webkitallowfullscreen=\"\" mozallowfullscreen=\"\" allowfullscreen=\"\"></iframe><script src=\"https://player.vimeo.com/api/player.js\" type=\"text/javascript\"> </script> If you do not see a video player on this page, you can watch the complete TV interview with Giantomasi and Aylward at this page: <a href=\"https://vimeo.com/263931253\">https://vimeo.com/263931253</a> <hr xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\"/> The Opportunity Zone program is getting praise from smart growth advocates. “Our analysis largely suggests that these Opportunity Zone tracts are places where strategic investments can serve as a strong catalyst for future economic growth,” New Jersey Future executive director Peter Kasabach says. “They have the right combination of good location and durable assets on which to build, and they show the potential to provide the return that Opportunity Fund investors will be seeking.” The program provides the biggest advantage for investors with highly appreciated assets, Aylward says. A fund set up to take advantage of the zone needs to plan to hold investments in those districts for at least five years, and ideally for ten years. “If you hold the investment in your qualified fund for five years you'll get a 10 percent step up in basis if you hold it for seven years,” Aylward says. “You'll get an additional five for a total of 15 on December 31, 2026, you have to pay the gain on the original sale, and then if you hold the asset for 10 years, then the additional gain that you earn on that investment will be excluded from income.” Because rules have not been completely defined, Giantomasi and Aylward are advising clients with assets they want to use to fund Opportunity Zone investments that they should wait to sell those assets until rules for the investment funds are clarified. Clients interested in the strategy are already inquiring about the feasibility of using assets to fund the tax-advantaged investments in other locations, Giantomasi says. “I had an interesting question today from a client, who said, 'Listen, if I liquidate the asset in New Jersey, do I have to reinvest in New Jersey, or can I reinvest the fund in California or in Alaska?” Giantomasi says. “I said, right now there was no restriction, but let's wait and see.” Giantomasi says the attorneys are hoping for guidance on the investment process within the month. "],"slides":[],"video":null},"articlePackages":[],"youmightlike":null,"readnext":{"contents":[{"uri":"/2025/07/10/florida-ends-tax-on-commercial-rent-bringing-relief-to-tenants/","title":"Florida Ends Tax on Commercial Rent, Bringing Relief to Tenants","byline":"Anthony Russo","summary":"The removal of the tax will increase the state's competitive advantage and lure more folks to Florida. ","prettyDate":"July 10, 2025","kicker":"Features","image":{"uri":"https://k2-prod-alm.s3.us-east-1.amazonaws.com/brightspot/2f/09/e07355b545bea551e6091b646509/kingsley-jonathan-620x372-1.jpg","width":"620","height":"372"},"breadcrumb":[],"primaryCategory":{"name":"","uri":"","channelName":"","channelUri":""},"allCategories":[{"channelName":"GlobeSt Market","sectionName":"National","slug":"national","channelUri":"markets"},{"channelName":"Region","sectionName":"Southeast","slug":"southeast-region-globest-markets","channelUri":"region"},{"channelName":"Globest Sectors","sectionName":"Office","slug":"office","channelUri":"sectors"},{"channelName":"Globest Sectors","sectionName":"Retail","slug":"retail","channelUri":"sectors"},{"channelName":"Globest Sectors","sectionName":"Multifamily","slug":"multifamily","channelUri":"sectors"},{"channelName":"Kicker","sectionName":"Features","slug":"features-kicker","channelUri":""}]},{"uri":"/2025/07/10/multifamily-delinquencies-climb-amid-worsening-cre-loan-performance/","title":"Multifamily Delinquencies Climb Amid Worsening CRE Loan Performance","byline":"Erik Sherman","summary":"Growth slows, delinquencies rise, and multifamily losses hit a peak.","prettyDate":"July 10, 2025","kicker":"Analysis","image":{"uri":"https://images.globest.com/contrib/content/uploads/sites/296/2023/04/Delinquent-Loan-Article-202304060805.jpg","width":"620","height":"372"},"breadcrumb":[],"primaryCategory":{"name":"","uri":"","channelName":"","channelUri":""},"allCategories":[{"channelName":"GlobeSt Market","sectionName":"National","slug":"national","channelUri":"markets"},{"channelName":"Globest Sectors","sectionName":"Multifamily","slug":"multifamily","channelUri":"sectors"},{"channelName":"Globest Topics","sectionName":"Capital Markets","slug":"capital-markets-globest-topics","channelUri":"globest-topics"},{"channelName":"Region","sectionName":"Northeast","slug":"northeast-region-globest-markets","channelUri":"region"},{"channelName":"Kicker","sectionName":"Analysis","slug":"analysis","channelUri":""}]},{"uri":"/2025/07/11/top-10-cre-funds-stockpile-billions-as-market-wonders-whats-next/","title":"Top 10 CRE Funds Stockpile Billions as Market Wonders What’s Next","byline":"Erik Sherman","summary":"The funds remain unused as they await the right opportunity.","prettyDate":"July 11, 2025","kicker":"Features","image":{"uri":"https://k2-prod-alm.s3.us-east-1.amazonaws.com/brightspot/ec/07/e42f1dd84c54b5f0c4804ce6fdad/dry-powder.jpeg","width":"620","height":"372"},"breadcrumb":[],"primaryCategory":{"name":"","uri":"","channelName":"","channelUri":""},"allCategories":[{"channelName":"GlobeSt Market","sectionName":"National","slug":"national","channelUri":"markets"},{"channelName":"Globest Topics","sectionName":"Capital Markets","slug":"capital-markets-globest-topics","channelUri":"globest-topics"},{"channelName":"Region","sectionName":"Northeast","slug":"northeast-region-globest-markets","channelUri":"region"},{"channelName":"Kicker","sectionName":"Features","slug":"features-kicker","channelUri":""}]},{"uri":"/2025/07/11/multifamilys-rising-loan-maturities-create-new-buying-opportunities/","title":"Multifamily's Rising Loan Maturities Create New Buying Opportunities","byline":"Erik Sherman","summary":"Distressed sales loom amid high debt and low coverage ratios.","prettyDate":"July 11, 2025","kicker":"Analysis","image":{"uri":"https://k2-prod-alm.s3.us-east-1.amazonaws.com/brightspot/3d/26/2b933d304f09aae46772f0115fa0/buying-opportunity.jpeg","width":"620","height":"372"},"breadcrumb":[],"primaryCategory":{"name":"","uri":"","channelName":"","channelUri":""},"allCategories":[{"channelName":"GlobeSt Market","sectionName":"National","slug":"national","channelUri":"markets"},{"channelName":"Globest Sectors","sectionName":"Multifamily","slug":"multifamily","channelUri":"sectors"},{"channelName":"Globest Topics","sectionName":"Capital Markets","slug":"capital-markets-globest-topics","channelUri":"globest-topics"},{"channelName":"Region","sectionName":"Northeast","slug":"northeast-region-globest-markets","channelUri":"region"},{"channelName":"Kicker","sectionName":"Analysis","slug":"analysis","channelUri":""}]},{"uri":"/2025/07/10/disagreement-grows-among-fed-officials-on-rate-cut-timing/","title":"Disagreement Grows Among Fed Officials on Rate Cut Timing","byline":"Erika Morphy","summary":"The tariff debate is disrupting the Fed’s policy playbook.","prettyDate":"July 10, 2025","kicker":"Analysis","image":{"uri":"https://k2-prod-alm.s3.us-east-1.amazonaws.com/brightspot/b1/0e/89779ab049e2a63ea4ff1d0fb5e9/fed-resize-jpeg.jpeg","width":"620","height":"372"},"breadcrumb":[],"primaryCategory":{"name":"","uri":"","channelName":"","channelUri":""},"allCategories":[{"channelName":"GlobeSt Market","sectionName":"National","slug":"national","channelUri":"markets"},{"channelName":"Globest Topics","sectionName":"Capital Markets","slug":"capital-markets-globest-topics","channelUri":"globest-topics"},{"channelName":"Globest Topics","sectionName":"Economy","slug":"economy","channelUri":"globest-topics"},{"channelName":"Region","sectionName":"Northeast","slug":"northeast-region-globest-markets","channelUri":"region"},{"channelName":"Kicker","sectionName":"Analysis","slug":"analysis","channelUri":""}]}]},"events":{"events":[{"eventTitle":"GlobeSt. ELITE Women of Influence (WOI) 2025","venueName":"","cleCredit":"no","description":"GlobeSt. Women of Influence Conference celebrates the women who drive the commercial real estate industry forward.","registrationURL":"","docUri":"/data-sources/events/GlobeSt.ELITEWomenofInfluence(WOI)2025:2024-09-03-04:00:33.xml","eventEndDate":"July 22, 2025","eventStartDate":"July 21, 2025","industry":["Real Estate"],"audience":["Conferences","Real Estate"],"city":"Denver","learnMoreLinkFile":"https://www.event.globest.com/WomenOfInfluence","imageUri":"https://assets.swoogo.com/uploads/full/4358074-66d72c273ea79.png","imageUri2":"https://assets.swoogo.com/uploads/full/4358079-66d72c46e3ce4.png","practiceArea":["Diversity","Leadership & Management","Women of Influence"]},{"eventTitle":"GlobeSt. Multifamily Fall 2025","venueName":"","cleCredit":"no","description":"Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!","registrationURL":"","docUri":"/data-sources/events/GlobeSt.MultifamilyFall2025:2025-04-10-04:00:43.xml","eventEndDate":"October 15, 2025","eventStartDate":"October 15, 2025","industry":["Real Estate"],"audience":["Conferences","Real Estate"],"city":"Los Angeles","learnMoreLinkFile":"https://www.event.globest.com/multifamily-fall","imageUri":"","imageUri2":"","practiceArea":["Multifamily"]}],"searchParams":{"estimate":2}}},"extensions":{"DateTime":"2025-07-13T04:11:33.889407167","ResponseTime":"?","AuthorizedUser":false,"AlmContext":"AlmContext{clientIP='10.0.253.254', internalIP='true', origin='', authorizedUser='false', Chinchilla, userAccount='null', UCID=null, ipAccount='null', olyEncId='null'}","NavServiceResponse":{"message":"No Content","action":"show-404","data":"","placResultsPublic":null},"DebuggingData":null,"UsedCache":"true","DataUrl":"http://ml2.alm.com:9216/bff-services/content/get-you-may-like-for-content.xqy?naturalId=/2018/04/12/west-orange-law-firm-sees-opportunities-for-investors-in-opportunity-zones/&site=www.globest.com&total="},"status":200,"headers":{}},"request":{"query":"\n####\n####\n# QUERY\n# ROUTE:/2018/04/12/west-orange-law-firm-sees-opportunities-for-investors-in-opportunity-zones/\n####\n\n\nquery Globest__view_article_no_sitedir{articleData:\n getContent(naturalId: \"/2018/04/12/west-orange-law-firm-sees-opportunities-for-investors-in-opportunity-zones/\", site:\"globest.com\") {\n uri\n canonicalUrl\n generatedId\n naturalId\n recombeeId\n type\n postFormat\n kickerPresentedBy {\n \t\t label\n \t\t value\n \t\t}\n breadcrumb{\n name\n \t\turi\n }\n presentedBy\n title\n readtime\n timeToRead\n prettyModified\n prettyDateTime\n needToKnow\n byline\n nofollow\n showDisclaimer\n authors {\n name\n description\n imageLarge\n webUrl\n }\n publication\n kicker\n kickerNode {\n name\n slug\n uri\n sectionName\n }\n prettyDate\n prettyDateTime\n pubDate\n modifiedDate\n isDownload\n primaryCategory {\n channelName\n sectionName\n name\n uri\n slug\n channelUri\n }\n tags\n image {\n uri\n width\n height\n alt\n }\n embed1\n embed2\n summary\n categories {\n name\n uri\n channelName\n }\n allCategories {\n sectionName\n channelName\n } \n bodyArray\n slides {\n title\n image\n caption\n height\n width\n }\n video\n\n }\n articlePackages:\n getPackagesForArticle(docId: \"/2018/04/12/west-orange-law-firm-sees-opportunities-for-investors-in-opportunity-zones/\", limit: 3, publication:\"globest.com\") {\n title \n slug\n type \n summary\n cssFile\n navigations {\n name\n link\n }\n articles {\n title\n kicker\n uri\n image {\n uri\n }\n }\n\n \n }\n youmightlike:\n getYouMayLikeForContent(naturalId: \"/2018/04/12/west-orange-law-firm-sees-opportunities-for-investors-in-opportunity-zones/\", site:\"globest.com\") {\n uri\n title\n byline\n prettyDate\n readtime\n image {\n uri\n width\n height\n }\n summary\n }\n readnext:\n getStatsList(site:\"globest.com\", topic: \"\", limit: 5, timeframe: \"3days\" ) {\n contents {\n uri\n title\n byline\n summary\n prettyDate\n kicker\n image {\n uri\n width\n height\n }\n breadcrumb{\n name\n \t\turi\n }\n primaryCategory {\n name\n uri\n channelName\n channelUri\n }\n allCategories{\n channelName\n sectionName\n slug\n channelUri\n }\n breadcrumb {\n name\n uri\n }\n }\n\n }\n events:\n getFutureEvents(\n publication: \"GlobeSt\"\n pageSize: 10\n page: 1\n ) {\n events {\n eventTitle\n venueName\n cleCredit\n description\n registrationURL\n docUri\n eventEndDate\n eventStartDate\n industry\n audience\n city\n learnMoreLinkFile\n imageUri\n imageUri2\n practiceArea\n }\n searchParams {\n estimate\n }\n }\n }"}}

Go Home

Instant Insights /

Error