Best 1031 Exchange Companies in New York: How to Compare Them in 2026
New York has more 1031 exchange companies than most states, from Long Island independents to national firms with Manhattan offices. We did not find a New York law that licenses or bonds them, so the comparison is up to you. Here is what each firm's own site says, the questions that separate them, and the New York forms and transfer taxes that come with any sale.
On this page
The short answer
The best 1031 exchange company for a New York sale is one that shows you in writing how your money is held and who can move it, carries bond and errors-and-omissions coverage you can see on paper, knows New York closings (including co-ops and the transfer tax returns), and gives you one named person through day 180.
As of our last check, we found no New York statute that licenses or bonds qualified intermediaries, and there is no federal license. California and Washington set minimums by law; New York does not appear to. So the protections are whatever the firm has and puts in writing.
New York 1031 exchange companies: what their sites say
These firms state on their own websites that they have a New York headquarters or office. This is not a ranking. Each entry summarizes the firm's own site as read on October 16, 2026; "not stated" means we did not find it there, not that the firm lacks it. Confirm everything in writing with the firm.
| Firm | New York location (as stated) | Funds (as stated) | Bond / E&O (as stated) | CES on staff (as stated) |
|---|---|---|---|---|
| Legal 1031 Exchange Services | Manhattan and Woodbury offices; a division of Kensington Vanguard; "since 2007" | A separate segregated escrow account for each exchanger | Fidelity bond and E&O stated; amounts not stated | Yes |
| 1031 Asset Exchange Services | Woodbury, Manhasset, Westhampton Beach and Manhattan | Not stated | Not stated | Not stated |
| 1031 Coordinators of New York | Great Neck; an intermediary "since 2002" | Segregated sub-escrow accounts in the exchanger's name and taxpayer ID | Not stated | Not stated |
| New York Deferred Exchange Corporation (NYDEC) | Headquarters in Syosset; branch in Jackson Heights | Segregated bank accounts under the exchanger's tax ID, FDIC insured to the extent provided by law | "Bonded and insured"; amounts not stated | Not stated |
| Exchange Solutions, Inc. | East Meadow | Not stated | "Bonded and Insured"; amounts not stated | Yes |
| IPX1031 | Offices in Armonk, Westbury and Riverhead; a Fidelity National Financial subsidiary | Not stated on the pages read | $100 million fidelity bond; $30 million E&O | Yes |
| Asset Preservation, Inc. | Manhattan office; headquartered in Roseville, California; a Stewart subsidiary | Not commingled with operating accounts | Fidelity bond and E&O stated; amounts not stated | Yes |
| CPEC1031 | Manhattan office; located in Minneapolis | Segregated bank escrow accounts | Fidelity bond, E&O and cyber coverage stated; amounts not stated | Not stated |
Leah Badach, CES (the author of this page) is based in Brooklyn and works with New York sellers across the five boroughs, Long Island, Westchester and upstate, and with investors in all 50 states. She is a Certified Exchange Specialist with 11+ years of 1031 exchange experience, and the qualified intermediary she works with confirms in writing, before you sign, how your funds are held. Ask her the same questions as everyone else on this list.
How to choose among them
| Your situation | What to weigh most |
|---|---|
| A co-op apartment or a condo | Experience with co-op share transfers and whether your co-op shares count as real property for the exchange; see NYC co-op and condo exchanges |
| A multifamily or mixed-use building | Coordination with your closing attorney on the assignment and the closing statement |
| Selling in New York, buying out of state | The nonresident estimated tax form (if you live outside New York) and the target state's rules |
| Buying the replacement first | Reverse exchange capability, set up before you buy (reverse exchanges) |
| A large exchange | Bond and E&O amounts relative to the money held, and how interest is handled |
| Closing within weeks | How fast the agreement and closing instructions reach your attorney |
Questions to ask any New York intermediary
- Where will my funds sit, in whose name and taxpayer ID, and at which bank?
- Does a withdrawal need my written approval?
- Can I see the fidelity bond and E&O certificates?
- Who earns the interest on my funds, and how is it reported?
- How do I deliver my 45-day identification, and how do you confirm receipt?
- Have you handled co-op exchanges and Form IT-2663 (or IT-2664) for nonresident sellers?
- Is your firm affiliated with my attorney, accountant or broker? Anyone who acted for you in those roles in the past two years generally cannot be your intermediary (Treas. Reg. §1.1031(k)-1(k)).
New York forms and taxes at closing
These apply whichever company you choose.
- Nonresident sellers: Form IT-2663. If you live outside New York, you generally estimate New York income tax on the gain at closing. For a like-kind exchange with no gain recognized, the instructions say to mark box 4B, summarize the exchange and state that it is an IRC §1031 exchange; tax is estimated only on the gain you report federally, such as boot (IT-2663 instructions). Co-op shares use Form IT-2664 instead.
- New York State transfer tax. The tax is $2 for each $500 of consideration, paid by the seller, filed on Form TP-584; a 1% "mansion tax" paid by the buyer applies to residences of $1 million or more (NYS real estate transfer tax). We found no like-kind exchange exemption on that page: the 1031 defers income tax, not transfer tax.
- New York City transfer tax (RPTT). In the five boroughs, RPTT applies to sales over $25,000: 1% or 1.425% for one- to three-family homes, co-ops and condos, and 1.425% or 2.625% for other property, depending on whether the price is over $500,000 (NYC Department of Finance). The page lists no like-kind exchange exemption.
- Why it matters. New York's 2025 rate schedule tops out at 10.9% (2025 IT-201 instructions), and the federal tax applies on top. Deferring both is the point of the exchange.
The federal clocks are the same as anywhere: 45 days to identify replacement property in writing, and the replacement must be received by the earlier of day 180 or the due date, including extensions, of your tax return for the year of the sale (Treas. Reg. §1.1031(k)-1).
Frequently asked questions
Are 1031 exchange companies regulated in New York?
As of our last check, we found no New York statute that licenses or bonds qualified intermediaries, and there is no federal license. Ask any intermediary for its bond and E&O certificates and for its account terms in writing.
Do I need a qualified intermediary located in New York?
No. The intermediary can be anywhere in the United States. A New York-based intermediary can help with local practice, such as co-op closings and the transfer tax returns, but the protections that matter are how your funds are held and who can move them.
Which 1031 exchange companies have offices in New York?
On their own websites, Legal 1031 (Manhattan and Woodbury), 1031 Asset Exchange Services (Long Island and Manhattan), 1031 Coordinators of New York (Great Neck), NYDEC (Syosset), Exchange Solutions (East Meadow), IPX1031 (Armonk, Westbury, Riverhead), Asset Preservation (Manhattan) and CPEC1031 (Manhattan) state New York offices. Confirm current details with each firm.
Can I do a 1031 exchange with a New York co-op?
Often, yes. New York treats co-op shares as real property for many purposes, and the federal regulations look to state law in deciding what counts as real property. Confirm with your attorney and CPA for your specific co-op; see NYC co-op and condo exchanges.
Does a 1031 exchange avoid the NYC or New York State transfer tax?
No. The 1031 exchange defers income tax on the gain. The transfer taxes are imposed on the deed or transfer, and the state and city pages list no like-kind exchange exemption.
I live outside New York. Will tax be withheld at my closing?
Nonresident sellers file Form IT-2663 (or IT-2664 for co-ops) at closing. If no gain is recognized because of a 1031 exchange, you mark box 4B and describe the exchange; estimated tax is due only on any gain you recognize, such as boot.
Sources
- NYS Department of Taxation and Finance, IT-2663 instructions (2025).
- NYS real estate transfer tax and NYC Real Property Transfer Tax.
- 2025 IT-201 instructions, tax rate schedule.
- Treas. Reg. §1.1031(k)-1: deferred exchanges, qualified intermediaries, disqualified persons.
- Firm details: each firm's own website, linked in the table, read October 16, 2026.
Educational information, not tax or legal advice. Firm details are as stated on each firm's website and may change; confirm them in writing.
Selling New York property?
Leah is based in Brooklyn and works with New York sellers every week, from co-ops to multifamily. Tell her where the property is and when you expect to close.
Talk to Leah