Accounting, real estate-style.

RUBIN

KATZ

Given today's uncertain climate, every business needs to take advantage of the most skillful, best-informed advice available to help it navigate what are sure to be challenging times ahead. Nowhere is this more true than the real estate industry, where insightful financial counsel and strategic advice can keep projects and companies on sound footing -- well positioned to deal with the current economy.

Rubin & Katz LLP supplies this kind of creativity and expertise. Since its founding in 1987, this unique firm of seasoned real estate Certified Public Accountants and consultants has gained a solid reputation for creating and maximizing investment value while handling the most difficult transactions, and complicated new developments.

Other accounting organizations have real estate departments or groups. However, Rubin & Katz LLP is the only firm in New York City focused solely on the real estate industry. "We look at the big picture, our perspective is from the businessman's point of view and our concentration on one industry only is a major benefit to our clients," explains Rubin & Katz LLP founder Ronald Katz. All of the professionals in the Madison Avenue firm have a minimum background of five years working with the real estate industry.

This ensures that its partners and staff are industry experts at every level and are on top of the current issues affecting the real estate industry. Immersed in real estate, these professionals work routinely on deal structuring, tax and financial planning, tax compliance, litigation support, accounting and auditing services, due diligence, valuations and debt restructuring. They provide indepth consultation and understanding of their clients' business objectives.

The firm has been involved in dozens of real estate transactions valued at billions of dollars and is currently serving as lead tax consultant on the $1.7 billion AOL-Time Warner project, the largest real estate development in the country.

"This is a fascinating development project since it has so many players and components. We are working with The Related Companies and Apollo Real Estate Capital Advisors as well as Palladium for the retail aspect and Mandarin Oriental on the hotel," Katz says.

In addition to Apollo and The Related Companies, which has used Rubin & Katz LLP since its founding, the firm's impressive list of clients includes Insignia Financial Group, Rose Associates, Rockrose Development Corp., Jack Resnick & Sons, Inc., Inc., Tishman Speyer, the Albanese Organization, The Community Preservation Corporation, and Cord Meyer.

Beyond performing the traditional audit, accounting and tax work, Rubin & Katz LLP is often involved with the development of a project in its earliest stages, when operating agreements are being negotiated and the deal is actually being structured. "This is the 'glamorous' and often most pivotal part of our work," Ron Katz says. "It is one of the most important services we provide because it helps developers to achieve their optimal goals. It is also the most rewarding because it demonstrates our expertise and ability to handle a project from beginning to end."

Recent Rubin & Katz LLP projects include The Park imperial/Random House headquarters, Union Square W Hotel, and the Lexington Belvedere Apartments.

Rubin & Katz LLP has the diverse skills required to conduct successful cost segregation studies on residential properties, hotel properties and mixeduse projects. Unlike other firms that only have accounting and tax professionals, Rubin & Katz LLP has design and construction professionals in-house. This depth of knowledge about building components and construction ensures that all potential accelerated writedowns are identified.

Rubin & Katz LLP's management advisory services identify improvement opportunities and find creative solutions for their clients. Professionals at the firm are skilled in a variety of disciplines including business process and strategy consulting, thereby functioning as a full service business and management advisor. They consistently deliver improvements in people, process, strategic and organizational components of the corporation based on an in-depth understanding of the unique dynamics of the real estate industry and the risks of the current marketplace.

Rubin & Katz LLP has served as lead consultant on more than 30 affordable housing projects. Its extensive experience with Low Income Housing Tax Credit (LIHTC) Syndications, HUD programs and tax-exempt bond-financed projects guides developers through complex rules and regulations that govern these programs. Although these programs exist to help developers, there are many requirements and qualifications to fulfill. It is important that developers have the help of experienced consultants to maximize these benefits, such as Rubin & Katz LLP.

"The incentives offered by the 80/20 Program are currently extremely popular with developers from fringe areas like the flower district on Sixth Avenue in the 20's to very sophisticated areas of the City," explains Christopher Cotter, Rubin & Katz LLP's managing partner.

Real estate developers and investors turn to Rubin & Katz LLP to design and implement lifetime estate plans. "As an illiquid asset, real estate differs considerably from a portfolio of market securities and therefore needs different estate and trust planning," explains Katz. The firm works with professional advisers including estate tax attorneys and life insurance brokers to advise clients on employment matters, retirement planning and pension distribution options, charitable giving, life insurance, state domicile, residency issues, estate and probate issues.

As a natural outgrowth of its relationships with metropolitan area developers, Rubin & Katz LLP has worked on transactions in San Francisco and throughout Florida. Katz plans to expand geographically in the near future and to add additional value added services for the firm's clients.