The Best Lawyers in America

Two Winne Banta attorneys have once again been included in the list of The Best Lawyers in America (2018 edition).  Richard Kahn has been recognized in the area of Real Estate Law.  Kenneth Lehn has been recognized in Commercial Litigation, Litigation – Labor and Employment, and Litigation – Real Estate.

Rosenberg at 30

Principal Bruce Rosenberg today celebrated his 30th anniversary as an attorney with Winne Banta.

Washington Commons Shopping Center

Robert Kleeblatt, Ian Kleeblatt and Richard Wolloch represented the contributor in a structured tax deferred transaction in which Urstadt Biddle Properties Inc. acquired an equity interest in a new entity that owns the Washington Commons Shopping Center in Dumont, NJ, a 75,000 square foot shopping center with a residential component. The attorneys were assisted by the firm’s Tax and Environmental practices.  The transaction was a tax deferred exchange under Section 721 of the Internal Revenue Code.  This alternative to a traditional 1032 exchange permits a seller to trade ownership of a property for shares in a “DownREIT” and defer recognition of gain on the transaction. For details, contact Robert Kleeblatt at 201.562.1078.

(201) Magazine’s Bergen’s Top Lawyers

In (201) Magazine’s 2017 survey of Bergen County’s Top Lawyers, Winne Banta attorneys were named in 16 areas of the law’

  • Appellate – Kenneth Lehn
  • Banking – Thomas Cangialosi, Richard Kahn
  • Business, Corporate & Commercial – Lori Johnson, Robert Kleeblatt, Gary Redish
  • Chancery Practice – Gary Redish
  • Commercial Litigation – Kenneth Lehn
  • Custody – Thomas McConnell
  • Education – Robert Jacobs
  • Environmental – Michael Stingone
  • Labor & Employment – Kenneth Lehn
  • Litigation – Michael Cohen, Robert Jacobs
  • Matrimonial & Family – Ronald Abramson, Dennis Harraka, Thomas McConnell
  • Municipal – Stanley Turitz
  • Real Estate – Khoren Bandazian, Joseph Basralian, Lori Johnson, Richard Kahn, Ian Kleeblatt, Robert Kleeblatt, Michael Stingone, Richard Wolloch
  • Taxation – Arthur Goldberg
  • Trusts & Estates – Martin Dever, Jeffrey Love
  • Zoning, Planning & Land Use – Joseph Basralian, Bruce Rosenberg, Stanley Turitz, Marla Wolfe Taus

Real Estate Deals

Joseph Basralian and the Real Estate practice have recently been busy with a variety of real estate deals. Among them was a $23.5 million refinancing of a shopping center in Maryland in April, the sale of an 84-unit garden apartment complex in Maywood, NJ by a publicly traded company, and the preliminary and final site plan approval of an 82-unit residential building with first floor retail space in Hackensack, NJ.  In a $43 million sale, Mr. Basralian represented the seller of a mixed-use residential and retail building with 104 apartment units located in Falls Church, VA.

 

Bakarich Joins Winne Banta

Peter Bakarich has joined the Tax, Trusts and Estates practice as a principal. Peter concentrates his practice in the areas of estate and trust planning; probate; wills, living trusts, powers of attorney and advance directives/living wills; estate, inheritance and gift taxes; federal and state taxation; professional corporations; and pension and profit-sharing plans.

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Winne Banta Opens New Office in Hoboken

To serve the growing needs of our clients in Hudson County, Winne Banta has opened an office in Hoboken, located at 1422 Grand Street, in the up-and-coming northwest section of the city.  This new office will allow our Gold Coast clients easier access to our services and places our firm squarely in the middle of the future development of Hoboken.

Our new office in Hoboken will allow us to service the many real estate development projects active in the area.  Our attorneys can handle all areas of real estate, from residential closings to complex commercial transactions. Our full-time residential real estate staff will ensure deals are handled in a responsive manner. Our commercial real estate staff will provide unparalleled service and competence. In addition, our Trusts and Estates Department will be able to easily serve the needs of our clients in this area — from a simple will to more complicated estate planning.

John Grey Joins Winne Banta

John Grey has joined Winne Banta’s Tax, Trusts & Estates practice as an associate.  John handles estate and gift tax planning for high net worth clients, with a concentration in business succession.

Like-Kind Exchange of Fine Art

Richard Wolloch and Jeffrey Love recently concluded a $10,200,00 reverse like-kind exchange of fine art. A major work of art was purchased by one of the firm’s high net worth clients and he then sold a number of smaller artworks to finance the earlier purchase. Like-kind exchanges of art pose many challenges that are not present in real property exchanges. Not all types of art are considered “like-kind.” Similarly, the number of pieces of art involved in trading-up to a major piece of fine art may involve a couple of dozen paintings, as was the case in this transaction. The result of this transaction was that the client was able to buy a very expensive piece of art using a short-term loan and then sell other artworks to repay the loan and, in the course of this transaction, the client was able to defer $2,856,000 in capital gains taxes, which would otherwise have been due on the sale of the relinquished artworks. (Artwork is subject to a capital gains tax rate of 28%).