Greenberg in driving seat with 1031exchange.

With literally only hours to go, Howard Greenberg, a partner with DeMarzo Realty, recently co-brokered a $11.5 million sale of a Manhattan property on the final day of the buyer's 1031 Exchange Period--less than a month after joining the seller's brokerage team, working with the exclusive broker

Notably, the contract closing also took place on the day of the signing.

The property, a free-standing garage building at 506-10 West 181st Street, near Yeshiva University in Inwood, was sold by 506-10 West 181 Street LLC, and bought by MICL LLC.

"I'm used to fast turnaround times, especially now that so many investors and developers are taking advantage of 1031 exchanges," says Greenberg. "These situations make me grateful that I have been in the industry for a long time and that I've done a lot of deals involving parking garages. Of course, another reason why the deal went so smoothly was the involvement of Vanessa, a highly professional and diligent broker."

Inwood is attracting more and more development of late, Greenberg notes. "In this industry, it's essential to keep tabs on up-and-coming neighborhoods like Inwood," Greenberg advises. "And it's important to stay in touch with developers, owners, sellers and buyers. If you can anticipate their needs, you can meet even the tightest deal deadlines."