Ken Weissenberg on Bloomberg to Talk About (What Else?) QOZs.
- May 3, 2019
Qualified Opportunity Zone (QOZ) investing was the hot topic at EisnerAmper’s Real Estate Principals Summit in San Francisco. Bloomberg Radio, hosted by Lisa Abramowicz and Paul Sweeney, broadcasted live from the event. Ken Weissenberg, Co-Leader of the Real Estate Services Group, gave a good overview of the origin, benefits, timeline and prospects for the QOZ program. A previously little-known component of tax reform, QOZs are all anyone in real estate is talking about right now.
While previous programs to help distressed areas have had spotty results at best, there’s hope that things will be different with the QOZ program. For example, there are 8,700 zones, including the island of Puerto Rico. And while there are no requirements as to the number of affordable housing units or jobs creation, QOZs represent a tremendous opportunity for residents and investors. Thankfully, several holes in the original regulations were clarified on April 17, and what started out as a trickle has turned into a steady stream of investors, particularly for multi-asset funds.
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Kenneth Weissenberg CPA, Tax Partner in Real Estate Services, is experienced in tax saving strategies and negotiating sales and acquisitions. He represents owners of some of the most well-known real estate properties in New York City.
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