Although it can be extremely generous, making a gift of real estate it often comes with several disadvantages from a tax perspective. Some tax professionals advise people never to gift real estate. That might be a little extreme because there are some isolated scenarios where it can be a smart tax move, but there are a lot of considerations. Consult with your tax advisor and call us to discuss your property be it a CO-OP; CONDO; MULTI-FAMILY or COMMERCIAL DEVELOPMENT: 212-213-2035.