Kornblum and Landsman Oceanside Marine Terminals LLC in Purchase of Six LotsMarch 30, 2017 |
Yaron Kornblum and Marie Landsman represented Oceanside Marine Terminals LLC in the purchase of 6 lots located in Oceanside, NY from Sprague International Properties LLC. The purchase price was $1.8 Million and closed on March 30, 2017. The transaction involved complicated title issues and was contingent upon the New York State Department of Environmental Conservation issuing a MOSF Closure Letter (closure of a Major Oil Storage Facility License). This was an all cash transaction and was purchased as part of an IRS Section 1031 reverse tax free exchange.