HISTORIC TAX CREDITS

Steinbach Building
Asbury Park, NJ

Future Unlimited Law PC represents clients in the Historic Tax Credit financing of the rehabilitation of commercial, mixed-use and residential rental property nationwide, including transactions financed with a combination of Historic and New Markets or Low-Income Housing Tax Credits, and other federal, state, local and conventional financing.

Our services include:

• structuring transactions
• negotiating and drafting commitment letters
• negotiating and drafting debt and equity financing agreements
• due diligence review
• coordinating the closing
• issuance of legal and tax opinions

Future Unlimited Law PC represented Emory Realty Urban Renewal, LLC, a New Jersey limited liability company, an affiliate of Sackman Enterprises, Inc., a New York-based real estate developer in the historic tax credit financing of the rehabilitation of the former Steinbach Department Store in Asbury Park, New Jersey (June 2006). The building will consist of 63 luxury loft apartment units, 24,000 square feet of commercial space and parking. Financing included tax credit equity, construction and permanent loans and local tax incentives.