Taking 1031s off the table would have an “atomic-bomb” effect: market players

Federal tax reform could have disastrous effects on the city’s real estate market if it shakes things up too much, industry players said this morning at a panel organized by the Academy for Continuing Education, a residential brokerage school.

1031 exchanges, also known as like-kind exchanges, are crucial to the market’s health, said developer Daren Hornig of Hornig Capital Partners, who joined Cushman & Wakefield’s Bob Knakal, Ian Reisner of Parkview Developers and Josh Schuster of DHA Capital on the panel, which was moderated by The Real Deal publisher Amir Korangy and held at the 3 West Club on 51st Street, home of the Women’s National Republican Club.

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