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What are the advantages of using an LLC to buy a condo in NYC?

Using a limited liability company, or LLC, to buy a condominium in New York City offers privacy, tax advantages, and legal protections.

“It has been the preferred approach for sophisticated buyers and seasoned investors for years, but now has become commonplace for all types of buyers,” says James Woods, Esq., managing partner at Woods Lonergan PLLC, a Manhattan-based law firm that concentrates on real estate and in particular, buyers, sellers, and condo and cooperative board representation.