Marcus & Millichap.Marcus Marcus, in the Bible: see Mark, Saint. & Millichap, of Fort Lee, NJ announced the closing of two apartment properties in North Newark Newark, cities, United States Newark. 1 City (1990 pop. 37,861), Alameda co., W Calif., on the east side of San Francisco Bay; inc. 1955. , NJ. The combined 45 apartment units had recently been renovated with new windows, gas boilers and roofs. The buyer, a longterm client of Marvin Sauerhoff, the broker of record for Marcus & Millichap's Port Lee office, needed to complete a 1031 tax-deferred exchange. Marvin, acting as the exclusive agent for the seller, negotiated the purchase, which was secured by a 35 percent down-payment and a seller's purchase money mortgage. The seller's financing enabled the seller to also minimize his capital gains exposure through a long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. installment sale Installment sale The sale of an asset in exchange for a specified series of payments (the installments). installment sale A sale in which the buyer is scheduled to make a series of payments over a period of time. . |
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