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Beth Zafonte predicted that opportunity zones will be the top trend in the real estate market for 2019 in the New York Real Estate Journal’s “Year in Review 2018.” The Qualified Opportunities Zones program, enacted in late 2017, gives access to investors to significant federal income tax advantages when they reinvest capital gains into a QOZ fund within prescribed time limits. 

“This new program is more wide-ranging than any previous federal economic development initiative,” Zafonte said. “Everyone appears to be jumping on the bandwagon, even in advance of clear guidance from Treasury on many aspects of the program. I speak to multiple people every day requesting assistance in this regard.”

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