Inland Real Estate Acquisitions, LLC Closes the Purchase of a Beachfront Multifamily Property in Long Beach, NY

Inland Real Estate Acquisitions, LLC announced today that it negotiated and closed the purchase of an 11-story, 109-unit multifamily property located in Long Beach, New York. Joe Cosenza, vice chairman of The Inland Real Estate Group, LLC and president of Inland Real Estate Acquisitions, LLC, completed the deal, with assistance from Michael A. Wilson and Gina R. LaMantia of Equis Law Group, LLC, on behalf of an Inland affiliate.

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10 West Apartments, Long Beach, New York (Photo: Business Wire)

The property, recently renamed 10 West Apartments, is one of the only ocean-front rental buildings in New York and consists of a one studio, 67 one-bedroom, 38 two-bedroom and three three-bedroom units with 177 rentable parking spaces.

Each unit was renovated in 2015 and 2016 and features gourmet kitchens with quartz countertops, stainless steel appliances, hardwood floors, full size washers

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Do I Need an LLC for My Rental Property?

LLCs and real estate seem to go hand in hand these days. Anyone to whom you speak that dabbles in real estate investing understands the need for liability protection, but may not understand the proper way to protect themselves. Their insurance broker may have told them that an umbrella policy will do the trick, but I am of a different opinion. Using an entity to hold real estate is a fantastic way to protect yourself from liability, provide some tax benefits and give you peace of mind that your personal assets are protected.

Many clients come to me before they buy a rental property to understand all of the ins and outs of real estate investing and how to protect themselves. Now, there are many different ways to structure a real estate investing empire, but I want to focus on using the LLC to hold property. An LLC, or Limited … Read More