Nico Nesenoff, Esq.
Central and North Florida
Cell: (813) 205-3375
Office: (877) 494-1031
Email: nico.nesenoff@ipx1031.com
Nico Nesenoff’s Bio
Nico Nesenoff’s Bio
Nico Nesenoff, Esq., brings a unique blend of legal expertise, commercial real estate transactional experience, and business development leadership to his role as Vice President at Investment Property Exchange Services, Inc. (IPX1031), serving clients throughout Central and North Florida. Prior to joining IPX1031, Nico served as a Managing Director in the commercial real estate industry, advising clients and their practitioners nationwide to navigate complex real estate transactions and negotiate successful outcomes.
Drawing on his background in commercial real estate, litigation, transactional law, and negotiation, Nico is a trusted resource for investors, attorneys, and advisors structuring 1031 Exchanges, including Delayed, Simultaneous, Reverse and Build-to-Suit Exchanges. His multidisciplinary experience enables him to provide comprehensive 1031 guidance and customized 1031 Tax Deferred Exchange solutions aligned with each client’s investment goals. Nico received his J.D. from the University of Miami School of Law.
Additional Contact Information
Office
3505 US Highway 1, Suite 2, St. Augustine, FL 32086
IPX1031 Southern Regional Office
3505 US Highway 1, Suite 2, St. Augustine, FL 32086
Phone: (904) 461-9977
Toll-Free: (877) 494-1031
Fax: (904) 461-0311
Toll Free Fax: (800) 913-1915
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1031 Exchange FAQs
Is a Qualified Intermediary (AKA accommodator or QI) needed?
Yes. To avoid a taxable sale of the Relinquished Property, the use of an intermediary in virtually every 1031 transaction should be utilized. In addition, the Exchanger must enter into written agreements with the QI before the Relinquished Property is sold.
What is Like Kind Property? Can I sell my rental house and buy a 4plex? Can I sell my vacant lot and buy an office building?
Yes, you can buy ANY kind of business or investment real estate, anywhere in the US. The “like-kind” requirement does not mean selling and buying the same exact type of property. In an IRC §1031 transaction, you can exchange real property for virtually any other real property in the United States, as long as the property is held for productive use in a trade or business or for investment purposes. You can sell a rental house and buy apartments, commercial, industrial, mini storage, vacant land, agricultural, etc.
Can I get an extension on the 45-day identification period for my 1031 Exchange?
No, unless you are eligible for an extension due to a federally declared disaster, the IRS doesn’t have any provisions for extensions or exceptions – not even to the next business day if the deadline falls on a weekend or holiday. The best way to get more time is to start looking for your Replacement Property well before the closing of your sale property or to extend the closing date on your sale property.
Do I have to buy from the properties I’ve identified in my 1031 Exchange?
Yes. During the 45 days you can change what you’ve identified, but once your identification period has expired, you must buy from only that list. No substitutions or changes after day 45. The rules under section 1031 are very strict.
Can I use money from my 1031 Exchange to improve the new Replacement Property after I buy it?
The day you take title to the property is the end of the exchange for that property. If you have cash left over, that is taxable boot. There is something called a Build-to-Suit or Improvement Exchange, where we, as the intermediary, take title to the property to make the improvements before you take ownership. This is also a more expensive and complicated transaction.
Key 1031 Resources
1031 Brochure
1031 Reference Book
Your IPX1031 Resource
Is there an IPX1031 office near me? IPX1031, the national leader in 1031 Exchange QI services, is pleased to offer service in all US states including Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Washington DC, West Virginia, Wisconsin, Wyoming Search for your closest 1031 agent and 1031 office location here.
