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Leah Badach, 1031 Exchange Specialist in Staten Island, New York

1031 Exchange Specialist Staten Island NY

Certified Exchange Specialist

The Sontag GroupThe Sontag Group

Staten Island's trusted qualified intermediary for seamless 1031 tax-deferred exchanges on rental homes, multi-family buildings, and commercial properties.

10+
Years
5,000+
Exchanges
$1B+
Facilitated

1031 Exchanges for Staten Island Property Investors

Staten Island offers a unique real estate landscape within New York City, with a suburban feel, lower price points than the other boroughs, and strong rental demand driven by families and commuters. Property owners on Staten Island have seen steady appreciation, particularly in neighborhoods like St. George, Tottenville, and Great Kills. For investors sitting on gains from single-family rentals, duplexes, or small commercial properties, a 1031 exchange provides a powerful way to defer capital gains taxes and scale their portfolio.

Common exchange scenarios on Staten Island include trading a single-family rental for a multi-family property, exchanging a small commercial building on Hylan Boulevard for a larger investment, or moving into a DST for hands-off passive income. Staten Island investors also frequently exchange into properties in New Jersey or other boroughs to diversify their holdings while deferring all federal and New York State taxes on the sale.

As a New York City borough, Staten Island investors face the same steep combined tax rates that can exceed 30% when you factor in federal capital gains, the Net Investment Income Tax, and New York State and City taxes. On a $300,000 gain from a rental property sale, that could mean $90,000 or more in taxes without a 1031 exchange. Leah Badach specializes in helping Staten Island property owners navigate forward and reverse exchanges with the personal attention that a local specialist provides.

Staten Island 1031 Exchange FAQ

Common questions from Staten Island investors

Can I 1031 exchange my Staten Island rental home?
Yes, as long as the property is held for investment purposes such as renting it out. Single-family rentals, duplexes, and multi-family homes on Staten Island all qualify for 1031 exchanges.
Do I pay NYC taxes on my 1031 exchange gains?
With a properly structured 1031 exchange, you defer both New York City and New York State capital gains taxes in addition to federal taxes. This can save Staten Island investors 30%+ on their gains.
What are the 1031 exchange deadlines?
You have 45 days from closing to identify potential replacement properties and 180 days total to close on the replacement property. These deadlines are strict and cannot be extended.
Can I exchange my Staten Island property for one in New Jersey?
Absolutely. Many Staten Island investors exchange into properties across the bridge in New Jersey due to proximity and different market dynamics. Any like-kind investment property nationwide qualifies.
What is a reverse 1031 exchange?
In a reverse exchange, you acquire the replacement property BEFORE selling your current property. This is useful when you find the perfect investment and cannot wait to sell first.
How much does a 1031 exchange cost?
QI fees typically range from $750-$1,500 for a standard forward exchange. The tax savings on Staten Island properties almost always far exceed the cost.
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