Developer Joel Schwartz lands $47M in financing for 133-unit W’burg rental

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Doug receives a duplex as a gift from his uncle. The uncle’s basis for the duplex and land is $90,000. At the time of the gift, the land and building have FMVs of $40,000 and $80,000, respectively. No gift tax is paid by Doug’s uncle at the time of the gift.

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Developer Joel Schwartz lands $47M in financing for 133-unit W’burg rental [TRD] Oh Look, Another Big Apartment Building for Williamsburg [Curbed]

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Property Type: LAND & BUILDINGS Predom Use: SINGLE family doc# 1326145 tax# T1 0615024 recorded: 1/14/2013 sale date:11/15 /2012 Seller SHERIFF OF WASHINGTON CO Own Int Trans: FULL Seller MOEHR CAROL J Seller Retains: NONE Buyer BK OF AMERICA NA And Others NE 26 11 18

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Plans for a seven-story building bringing 133 apartments to Williamsburg are now moving forward with the developer having acquired a $. A partial job permit was issued for the Joel.

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