WELCOME to Seaman Realty and Management Company, a full service Commercial and Residential Real Estate firm in Jacksonville, Florida.
SEAMAN REALTY AND MANAGEMENT COMPANY, having recently celebrated 25 years in business, has been witness to and participant in many real estate cycles. We have seen great triumphs and great disasters. Real estate investing is not a license to print money. It is a high risk decision requiring context, fortitude, market expertise, and, of course, cash reserves. Seaman Realty and Management Company takes you through the real estate decision process. Our Property Management and Brokerage Advisory Teams deliver an unsurpassed level of expertise rarely found in commercial or residential property and land management, with experts on hand to assist you in land development, acquisitions, property management, and representation in buying or selling your commercial or residential property.
We will help you find space to buy, or lease, and negotiate your terms so that you feel protected. We will show you development opportunities, user/owner-occupant and triple net leased investment opportunities of commercial, residential and retail properties. In short, we will take you through the process… from trees…to keys!
Why sell now? Would someone pay you fair market prices today?
If your view is that the market is at its peak, or, that interest rates are rising, then now is the time to test the theory and put your home or building on the market for sale. As a potential SELLER, as long as you price your property with expert advisory--and here is another place where we can help you, there are many folks out there who will pay you fair market prices for your real estate. There are all kinds of tools to use, or vehicles. For example, you can stay on as the tenant after you close, and then begin paying rent to the new owner. This financing vehicle is known as a SALE/LEASEBACK. You can also do a 1031 TAX EXCHANGE, where you engage in a process to avoid some tax exposure by using your proceeds from a sale (called the "boot") towards another property of approximately the same value. There are many other techniques available to you, as each of us have differing thresholds and needs.
Who is buying commercial real estate right now?
As a potential BUYER, maybe your business idea has grown. You feel financially stable, and want to put your excess cash into a long term investment…that being YOUR business and its housing. You don't need the cash for machinery and equipment, vehicle fleets, advertising and marketing, staffing, internet presence, college, retirement, etc. You have the money to invest. Then, it is the right time for FOR YOU to buy a property, either for your own business, or as an investment.
There are red flags with which you need to be familiar. For example, the environmental history of the property you are considering may entail a clean-up (called a "remediation") that may cost more than the value of your purchase. Perhaps there is a negotiation that we can undertake on your behalf, as we have done over the many years we have been in business, where the seller and buyer arrive at a fair strategy to proceed, risks notwithstanding.
Seaman Realty and Management Company’s Brokerage and Property Management teams love the work that we do, and participate civically, daily and fervently in the yearning revitalization of our great Downtown, and in fact, our entire metropolis! We hope to share with you what we see as what’s best in our changing market—a question that will always have a different answer-- depending on the day, the time, the moment!
Please call us to discuss your options. The answers are not always what you may think!
2019 STATS AT A GLANCE:
3.9 Square Miles of Downtown
90 Block Business Improvement District
56 Block Historic District
$4.8 Billion in Major Projects
$210 Million Completed in 18-19 Projects
$1 Billion Projects Under Construction
$3.6 Billions Proposed Projects
3 Fortune 500 Corporate Headquarters
7,411,273 Sq Ft of Office Space (over 30% of the Jacksonville Market)
148,741 Net Absorption
$21.54 Average Lease Rate/ Sq Ft.
$104 Million in Major Commercial Sales
82% of Employees Like or Love Working Downtown
3,199 Multi-Family Residential Units
21 Multi-Family Properties
978 Units Under Construction
3,038 Units Proposed
90% of Residents Like or Love Living Downtown
9 Million + Visits Annually
5,000 + Events Annually
2,361 Hotel Rooms
7 Hotels Proposed
14 Culture and Entertainment Venues
5 Major Sports Teams
3 College Campuses
3 Major Medical Facilities
2.8 Miles of Riverwalk Public
100+ Public Art Pieces
44,000 + Parking Spaces
THE TREASURY DEPT. RELEASED
ITS LONG AWAITED 2nd INSTALLMENT OF PROPOSED REGULATIONS IN WHAT IS LIKELY TO BE A SERIES OF OPPORTUNITY ZONE GUIDANCE AIMED AT CLARIFYING THE RULES OF QUALIFIED OPPORTUNITY ZONES (QOZ's) AND QUALIFIED OPPORTUNITY FUNDS.... #opportunityzones CREModels
TRENDS and INFO for 2019
by Claudia Kiernan - IPX (southeast regional manager)
Regarding 1031 of the Tax Code, the tax reform laws enacted in the beginning of 2018 kept the use of 1031 Exchanges for tax deferral when commercial and investment real estate properties are sold but eliminated the use of 1031exchanges to obtain tax deferral when personal property is sold. Despite that change, 2018 was a record year for 1031 Exchanges. As we start this new year here are some of the trends, issues and key points to remember regarding the 1031 Exchanges.
Commercial & Investment Property sales remain robust and a growing number of sellers are structuring their sales as 1031 Exchanges. Rather than pay taxes that may be as much as 40% of the gain, by simply structuring sales as tax deferred 1031 Exchanges & purchasing new replacement properties, all of the following taxes can be deferred:
CAPITAL GAINS - Your rate will vary based on your taxable income (15-20%). For 2019, your rate may be 20% if taxable income exceeds $434,551 (single) or $488,851 (married filing jointly).
NET INVESTMENT INCOME TAX (NIIT)- If you have income investments, including capital gains, you may be subject to a 3.8% net investment income tax on your adjusted gross income in excess of $200,000 ($250,000 if married filing jointly).
STATE TAX- You may be subject to state or local income taxes. State tax rates may vary from 0% to the highest rate in California at 13.3%
DEPRECIATION RECAPTURE - A flat Federal tax rate of 25% is applied applied for unrecognized gain due to depreciation.
"MAKING A DIFFERENCE" - MARGIE SEAMAN OF SEAMAN REALTY AND MANAGEMENT COMPANY INTERVIEWED ON BUZZ TV.
Listen to Margie Seaman speak about her dedication to her community, her family, and her company in this genuine interview on buzz TV
2018 SALES TAX RATE CHANGE FOR COMMERCIAL LEASES
Effective January 1, 2018, Florida's state tax rate on commercial real property rentals is reduced. The state sales tax rate for renting, leasing, letting or granting license to use real property decreases from 6% to 5.8%.
The local option discretionary sales surtax imposed by the county where the real property is located will continue to be added to the state rate.
HOW DID 1031 FARE IN TAX
It’s official. The tax reform bill was passed in Congress and will become law effective 2018 once signed by the President.
The very good news is that 1031 advocacy efforts were successful for real estate! There will be no changes in the tax code for like-kind exchanges of real estate.
However, starting Jan 1, 2018, all personal property assets (such as autos, trucks, heavy equipment, farm machinery, artwork, collectibles and intangibles like fast-food restaurant franchise licenses) will no longer qualify for Section 1031 tax-deferral treatment. If you could benefit from an exchange of a personal property asset, you can still qualify if 1) you enter into the exchange before year-end and 2) either the relinquished property is sold OR the replacement property is acquired by the taxpayer by 12/31/17.
From Claudia Kiernan, Atty. and 1031 Tax Expert
FOR REAL ESTATE INVESTORS who relish the 1031 tax exchange vehicle, NOW IS YOUR TIME TO EMPLOY THIS MARVELOUS TAX AVOIDANCE MECHANISM or forever hold your peace, as the program is, most likely, going to be DISCONTINUED soon.
1031 EXCHANGE, A CHERISHED REAL ESTATE TAX BREAK, FACES EXTINCTION
To finance a possible tax rate cut, some in Congress are eyeing the provision, which allows sellers to defer capital-gains taxes by reinvesting in other properties
A much-loved tax advantage in the commercial real-estate industry is on the chopping block even as chances dim for the passage of a broad federal tax overhaul this year.
Why? If a sweeping bill doesn’t get traction in Congress, there is still a decent chance a narrower tax rate cut will get passed, according to lobbyists and Capitol Hill officials working on tax legislation.
To finance such a rate cut, some in Congress have in their sights what’s known as the 1031 exchange provision, which enables sellers of real estate and other assets to defer capital-gains taxes by reinvesting the proceeds in “like-kind” properties....
Jan. 4, 2017
SARASOTA AFFORDABLE HOUSING COMPANY CLOSES ON LA VILLA PROPERTY IN DOWNTOWN JACKSONVILLE
A Sarasota-based multifamily company has purchased three lots in the Downtown neighborhood of LaVilla, according to property records. Beneficial Communities through the Houston Street Manor LP bought three lots near Houston and Jefferson streets from the Downtown Station LLC. The development, Houston Street Manor, will be senior apartments...
Dec. 30, 2016
FORMER HISTORIC BROTHEL PROPERTY SOLD FOR DEVELOPMENT
The property at 615 Houston Street has just been sold at a real estate closing say sources close to the deal. One of the last remaining bordellos of the Ward Street (now Houston Street) Bordello district is slated for demolition.
ART EXHIBIT AT 120 E. FORSYTH STREET
Seaman Realty in conjunction with property owners are supporting the Downtown Jacksonville Arts by providing free exhibition space for local artists to feature their work. 120 E. Forsyth Street was one of these locations....
KIWANIS CLUB OF JACKSONVILLE
Margie of Seaman Realty and Management Company presented an impressive downtown development update to the San Marco Kiwanis Club...
SEAMAN REALTY BUILDING
a new initiative of Seaman Realty and Management Company, reflecting private property owners' support of local artists and an effort to combine that commitment with an attempt to provide free exhibition space for local artists while improving the appearance of the empty interiors of buildings for sale or lease by featuring beautiful artwork. The first building to step up to the plate is...
HELPING TO MAKE THE WORLD A BETTER PLACE!
Seaman Realty & Management Company Sales Associate, Charles Adderley gives back to the community...
SEAMAN REALTY & MANAGEMENT COMPANY SPONSORS JACKSONVILLE
PORCH FEST 2015
Seaman Realty & Management Company is proud to be one of the many sponsors of Jacksonville Porch Fest 2015. Our collective sponsorship made it possible for all of the muscians performing to be paid.
HOW GOOGLE FIBER COULD BE A GAME CHANGER FOR JACKSONVILLE
Heading up the exploration for Google Fiber in Jacksonville is Sunny Gettinger, who has worked remotely for Google for eight years. Gettinger said Jacksonville has a reputation for always looking to grow – and this is obviously an opportunity to leverage. "Leaders in....
HOW THE WORKPLACE NEEDS TO CHANGE FOR
Generation Z is about to enter the workforce and companies will need to work harder than ever before to recruit and retain the best talent. Organizations need to start developing plans for success today....
INNOVATION DISTRICT IN THE
WORKS FOR DOWNTOWN
The people behind Jacksonville’s first Innovation Connection Conference are working to create an innovation district Downtown. Ed Baldwin, founder of the Jacksonville tech startup Profile Gorilla, announced at the convention today plans for a clustered grid within the city’s urban core that will promote existing sites and resources that support startup culture and activity.
5 REASONS TO LOVE
JACKSONVILLE'S 5 POINTS
Following the great Jacksonville moss fire that destroyed a majority of downtown in 1901, residents flocked a few miles southwest to the quiet neighborhood of Riverside/Avondale to rebuild. By the 1930s, a small pocket of the Riverside region had transformed into the first bustling shopping area outside of downtown, which became known as 5 Points...
GUIDE TO JACKSONVILLE'S NEIGHBORHOODS
Jacksonville, the largest city by landmass in the nation and Northeast Florida’s historic urban economic engine, is a naturalwater wonderland that sports more shoreline than any other city in the U.S., with 22 miles of beaches, 40 miles of the Intracoastal Waterway and the longest stretch of the St. Johns River in the state of Florida....
Downtown Jacksonville has a new enhancement program in place, known as the Retail Enhancement Program, and I am happy to say that I played a roll in its creation. This program was recently voted favorably by both the Downtown Investment Authority and passed the City Council, and is now in effect, with many applicants already receiving benefits. How does it work, and why is it necessary?
KEEPING IT CURRENT
Since 2013 a new Federal GAAP accounting regulation has been under discussion which will directly change the way the IRS treats long term commercial real estate leases. Should this change go into law, from that point onwards all leases in effect must be recorded not as an expense but as a liability on a balance sheet. The thrust of this news is that all leases will obligate you to pay rent in a very similar way to paying debt service, but instead of paying to a bank; you are seen --and treated by the IRS--as borrowing from your landlord. This will be VERY costly to all businesses with existing leases....
On Sept. 20, 2013, SEAMAN led a team who unveiled a new program to Jacksonville called IlluminteJax! to a standing room only crowd of 100 downtown stakeholders, which was held at The University Club, for the JaxChamber's Downtown Council Breakfast series. The goals of artful illumination are many, but include...
SEAMAN REALTY AND MANAGEMENT COMPANY RECEIVES BEST OF 2019 JACKSONVILLE AWARD!!!!
Recognized for their quality of services & general impact on the local community Seaman Realty and Management Company was honored and deeply touched to receive this wonderful award in the category of Commercial Real Estate Agency.
For more more details and info please view this website: