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

February 24, 2015

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.