Kornblum and Landsman Oceanside Marine Terminals LLC in Purchase of Six Lots

March 30, 2017 | Real Estate, Zoning & Land Use

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.

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