Name: William Suglia
Title: Senior Vice President/Division Executive
Company: Citizens Bank
Location: Manchester, N.H.
Birthplace and year: New York City, 1957
Family: Wife, Lisa; children: triplets, John, Will, Cara, and Thomas
College: St. Anselm College, BA, Political Science; New York University, MBA
First job outside of finance: Parking lot attendant
First job in finance or allied field: Commercial real estate lender, Chase Manhattan Bank
What do you do now and what are you planning for the future? Manage the commercial real estate group for northern New England, maintain an ongoing book of business relationships; maintain credit stability; make new loans (selectively).
Hobbies: Skiing, golf, riding my Harley
Favorite book: "The Republic of Suffering" by Drew Gilpin Faust
Favorite movie: "Deuce Bigelow"
Key to success: Read the fine print.
If you had to choose another vocation what would it be? Teacher
How many of you remember real estate development in the late 1980s? Project sourcing was difficult, until it wasn’t. Into the 90’s, a few years after, banks and other financial institutions were very happy to fund projects.
Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property
Over the past several weeks, I have completed appraisal assignments for private clients. Interestingly, after submitting these appraisals, I received several phone calls – not to question the value, content, or any incorrect information, but rather to discuss the price per s/f compared to the comparable sales used in the report.
Attention to owners of real estate in the Commonwealth (and the title companies and other professionals who advise them), the Massachusetts Department of Revenue (the “DOR”) recently adopted a new “millionaire’s tax” via 830 CMR 62B.2.4
The purpose of this article is to address problematic or confusing issues which may help assessors and appraisers to better understand how to value real estate for tax assessment purposes.