1031 Exchange Property Search — Queens & Long Island

If you sold an investment property and you're staring down the 45-day identification clock, you need a broker who moves with urgency, understands replacement-property math, and has an inventory pipeline ready to go. Nitin Gadura specializes in running 1031 replacement searches across Queens, Brooklyn, and Nassau.

Nitin Gadura — 1031 Replacement Property Search

Licensed NY State real estate professional · (917) 705-0132

Rapid identification packages of qualified replacement candidates. Multi-family, mixed-use, and small-commercial inventory across Queens and Long Island. Coordination with your qualified intermediary (QI), attorney, and CPA.

Call (917) 705-0132 · Start your 1031 search →

The 1031 Exchange Timeline — What Investors Get Wrong

Under IRC §1031, like-kind exchanges of real property held for investment or productive use in a trade or business can defer federal capital-gains tax [1]. The post-2017 Tax Cuts and Jobs Act limited §1031 to real property only; personal property no longer qualifies.

Day 0: Closing on the relinquished property. Proceeds go to a qualified intermediary — not to you. Touching the cash breaks the exchange.
Day 45: Identification deadline. You must identify replacement property in writing under one of three rules: Three-Property Rule, 200% Rule, or 95% Rule.
Day 180: Closing deadline. You must close on identified replacement property (or file your tax return, whichever is earlier).

Miss either deadline and the deferral fails. There are no extensions except narrow federally-declared disaster relief.

What Qualifies as Like-Kind in NY

Multi-family residential (2–4 unit and 5+ unit)
Mixed-use (commercial ground floor + residential above) common on Crossbay Boulevard, Liberty Avenue, Jamaica Avenue, Hillside Avenue
Small office and retail
Raw land held for investment
Fractional interests via Delaware Statutory Trust (DST) where structured properly

What does not qualify: your primary residence, property held primarily for resale (fix-and-flip), or stocks/securities.

How Nitin Runs a 1031 Search

Pre-closing prep. Ideally engage Nitin 30+ days before you close on the relinquished property so your replacement shortlist is drafted before Day 0.
Criteria build. Cap rate, gross rent multiplier, loan-to-value, location constraints, and minimum debt replacement to avoid taxable "boot."
Inventory scan. Full OneKey® MLS plus off-market and pocket listings from Nitin's Queens investor network.
Package of candidates within the 45-day window, in priority order, with comps and rent-roll analysis.
Offer strategy. Simultaneous or contingent offers so you don't end up with zero identified on Day 45.
Closing coordination with your QI, attorney, CPA, and the seller's side through Day 180.

Retain a qualified intermediary and an attorney. 1031 compliance is highly technical. You must use a qualified intermediary; Nitin does not hold exchange funds and is not a QI. You should also retain a New York–licensed real estate attorney and consult your CPA before you close on the relinquished property. Nitin can refer QIs and attorneys he has worked with.

Popular 1031 Target Submarkets in Queens & Long Island

Two- and three-family homes in South Ozone Park (11420), Richmond Hill (11418/11419), Jamaica (11432–11436), and Queens Village (11427–11429)
Mixed-use on Crossbay Blvd (Ozone Park 11417 / Howard Beach 11414), Liberty Ave, and Jamaica Ave
Small multifamily across Nassau County — Valley Stream, Elmont, Hempstead, Freeport
Rockaway oceanfront multi-unit (11691–11697)

Related Resources

Citations

IRC §1031 — Like-Kind Exchanges of Real Property: irs.gov
IRS Form 8824 — Like-Kind Exchanges: irs.gov
NYS Department of Taxation — capital gains & transfer tax: tax.ny.gov

Informational only. Not legal or tax advice. §1031 compliance requires a qualified intermediary and professional tax guidance. Consult a NY-licensed real estate attorney and CPA. Commissions negotiable. Equal Housing Opportunity. Nitin Gadura, Gadura Real Estate, LLC.