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Introduction Opportunity Zones (OZs) are one of the more ambitious tax-incentive programs created under the Tax Cuts and Jobs Act of 2017. They aim to stimulate investment in low-income communities by giving investors favorable tax treatment when they reinvest capital gains into designated zones. Let’s explore how OZs work, benefits, risks, examples (especially in New … Continued

Introduction NYSERDA (New York State Energy Research & Development Authority) is a key agency supporting energy efficiency, clean energy, and climate goals in New York. Whether you’re a homeowner, business, developer, or community leader, NYSERDA plays a big role in incentives, programs, and technical support. This blog explains: what NYSERDA is, its mission, major programs, … Continued

Introduction With energy costs on the rise, saving power is not just good for the planet—it’s good for your wallet. New York State (and utilities like ConEd) often provide energy efficiency programs and incentives to help. Below is a compendium of practical tips (from no cost to larger upgrades) you can apply to reduce energy … Continued

Introduction Over the past year, Con Edison has proposed steep rate increases for its New York customers. These hikes have stirred controversy, public pushback, and debate over how to balance infrastructure upgrades, clean energy goals, and affordability. In this blog, I’ll break down what’s happening, why rates may be going up, how it affects consumers, … Continued

Introduction Estate planning in New York State comes with its own quirks. A key feature is the estate tax threshold, which determines when an estate must pay state-level taxes. New York’s rules include a “cliff” that can trigger taxes on the entire estate if certain bounds are exceeded—making planning extra important. This blog covers: the current NYS threshold, … Continued

Introduction For real estate investors, capital gains taxes on a property sale can be a heavy burden. But there’s a powerful tool under U.S. tax law—Section 1031—that lets you defer those taxes when structured properly. A 1031 exchange (often called a “like-kind exchange”) allows you to sell an investment property and reinvest the proceeds into … Continued

What Is the NYS Estate Tax Threshold? The New York State (NYS) estate tax threshold is the amount an estate can be worth before it becomes subject to New York’s estate tax. As of 2025, the NYS estate tax exemption is approximately $6.94 million per individual.That means if the total value of a deceased person’s estate — including real … Continued

What Is a Step-Up in Basis? A step-up in basis is a powerful tax rule that adjusts the cost basis of an inherited asset — such as a home, rental property, or investment — to its fair market value (FMV) at the time of the original owner’s death. In simple terms, it reduces or eliminates capital gains taxes when the heir sells the … Continued

What Is an SRO? SRO stands for Single Room Occupancy, a type of housing historically designed to provide small, low-cost rooms for individuals — often with shared bathrooms or kitchens.SROs once played a major role in NYC’s affordable housing ecosystem, offering shelter to working-class residents, students, and those transitioning from homelessness. However, due to past misuse, safety … Continued

https://www.cgprealestateconsulting.com/post/complete-guide-inherited-real-estate

Selling an inherited property involves several key steps and considerations to ensure a smooth and legally compliant process. Here is a comprehensive guide to assist you: 1. Understand the Probate Process Before selling, determine if the property must go through probate a legal procedure to settle the deceased’s estate. In New York, probate is typically … Continued