(855) Marcum1 | FOLLOW US  
Marcum LLP
Marcum LLP

Real Estate


The Firm's Real Estate Group specializes in providing financial, tax and accounting solutions. Marcum provides a full range of services to real estate owners, developers, managers, REITs, private equity funds, institutional investors hotel owner operators and other real estate related entities.

Our expertise includes financial statement preparation, tax return preparation, tax consulting, investor reporting, accounting systems, partnership cash flow modeling and transactional services.

The Real Estate Group offers a wide range of financial, tax and accounting services tailored to meet the specific needs of the real estate industry. These services are client customized to satisfy the requirements of the real estate investor ranging from the individual real estate owner through the largest global institutional investor. Our extensive knowledge of the real estate industry combined with our expertise in the leading real estate software packages ensures that our clients maximize the value of their real estate holdings.

Contact one of Marcum's regional representatives.




Marcum Commercial Real Estate Summit

October 25, 2017

Scope of Services

The Real Estate Group provides a full range of assurance, tax and consulting services to the real estate industry including private equity funds, real estate investment funds, REITs, pension advisors and private real estate companies including:

Assurance Services

  • Financial statement audits.
  • Real estate investment company audits.
  • Due diligence and operational agreed-upon procedures reports.
  • Regulated real estate projects audit.
  • Reviews and compilation.
  • Special-purpose audits including operating and certiorari.
  • Rule 3-14 and Rule 3-05 of SEC resolutions S-X audits.

Outsourced Accounting

  • General ledger maintenance, invoice processing and bank reconciliations.
  • Establish chart of accounts.
  • Accounting department development.
  • Training and oversight of accounting personnel.
  • Interim staffing requirements through CFO.
  • Operating expense billing and analysis.

Waterfall/Promote Calculations

  • Review operating agreement.
  • Create and maintain waterfall/promote model based on parameters in operating agreement.
  • Track partner contributions and distributions.
  • Calculate allocation of projected capital proceeds to partners.

External Audit Coordination

  • Manage external audit process.
  • Complete confirmations.
  • Prepare audit work papers.
  • Respond to auditor inquiries.

Tax Services

  • Federal and state tax return preparation.
  • Consultation regarding acquisition and sale, 1031 exchanges, cost segregation, debt financed distributions.

Transactional Services

  • Acquisition due diligence disposition and financing.
  • Strategic investment analysis.
  • Lease consulting and abstracting.
  • Cash flow modeling (Argus).
  • Property and portfolio purchase and sale closings.
  • Customized spreadsheets and databases.

Joint Venture and Individual Property Audits

  • Audits for office buildings, apartment buildings, condo conversions, hotels, shopping centers, industrial buildings, land and more. We operate in all fifty (50) states and, our ability to perform joint venture audit engagements primarily offsite provides significant savings to the owners. We also perform reviews and compilations.

Real Estate Investment Fund Audits

  • Audits of real estate investment funds at fair value accounting in accordance with Investment Company guidance.

Agreed Upon Procedures

  • Assisting owners and investors in monitoring their investments through implementing procedures to evaluate performance and compliance by their property manager or joint venture partners. Procedures can be tailored to focus on the high risk and key areas of concern or importance.

Rule 3-14 and Rule 3-05 of SEC Regulation S-X

  • Providing audits for new acquisitions in accordance with Rule 3-14 and Rule 3-05 of Regulation S-X governing the financial statement requirements for acquired properties.

Acquisition Due Diligence

  • Comprehensive due diligence including evaluation of projects, testing and review of purchase price models including Argus and NOI reviews.

Cost Segregation

  • Preparation of cost segregation studies and coordination with tax group.
Why Choose Marcum?

The professionals in the Real Estate Group have years of experience and expertise to perform at the highest level. Our partners have spent their careers building strong reputations among real estate leaders. From day one to the completion of our engagement, you'll have ongoing access to a partner who will make sure you get the comprehensive advice your investment deserves.

Our background encompasses:

  • Private and public REIT's.
  • Office buildings.
  • Condo conversions.
  • Hotels.
  • Shopping centers.
  • Industrial buildings.
  • Storage centers.
  • Golf courses.
  • Land.
Real Estate
Related Real Estate News

New York Governor Issues Executive Order Authorizing Prepayment of Property Taxes


On December 22, 2017, New York State Governor Andrew Cuomo issued an emergency Executive Order authorizing local governments to issue warrants for the collection of ....

The Cooperator spoke with Tax Partner Peter Buell about how tax reform will affect New York City condo and coop owners.


President Trump signed into law a major $1.5 trillion tax plan that Congress had earlier passed, the first re-writing of our tax laws in over ....

The New York Times interviewed Tax Partner Kurt Koegl about the likely impact of tax reform on real estate investment trusts.


After a frenzy of congressional action to rewrite the tax code, salesclerks and chief executives are calculating their gains. Business was treated with the everyone's-a-winner ....

Fox Business interviewed national Tax Leader Joseph Perry for a story about how tax reform will impact homeowners in high-tax states.


Republicans are moving a tax reform bill through Congress that could have both short-and long-term impacts on housing prices and trends. Real estate lobbies are ....

The Most Overlooked Tax Deduction by Real Estate Owners


The IRS has provided real estate owners with a juicy tax deduction. The de minimis safe harbor election is an annual tax return election ....

Marcum LLP Announces First Annual Real Estate Forum; Scott Rechler Will Keynote


The Real Estate Group of Marcum LLP, a top national accounting and advisory services firm, will present the inaugural Marcum Real Estate Forum on September ....

Long Island Business News quoted Tax Partner Peter Buell in an article about 1031 exchanges and the recovering real estate market.


As the real estate market has strengthened, Long Island accountants find themselves working on more Section 1031 exchanges.

Dennis Pellecchia, Partner-in-Charge, Needham Office, Featured in New England Real Estate Journal Article, "Deductability of Payment Made in Redemption of a Recalcitrant Partner's Interest, Arising in Connection With a Dispute."


Can any part of a payment, or payments, made to settle a partners' dispute, including the redemption of a recalcitrant partner's interest, provide an ordinary ....

Real Estate Industry Particularly Affected by New IRS Repair, Capitalization and Disposition Regulations


New IRS rules for the capitalization of expenditures relating to tangible property have particular ramifications for the real estate industry, according to Michael D'Addio, ....

Article by Kurt Koegl, Tax & Business Services Senior Manager, "The REIT Roll-Up: Unlocking Potential of Real Estate Assets," Featured in Real Estate Weekly


2013 saw 19 REIT IPOs raising $5.7 billion in capital, including the high-publicity Empire State Building IPO, which raised $930 million.

How did the ....

Marcum LLP's Merger with Cornerstone Accounting Group Featured in AccountingWEB Article "Merger Gives Marcum Foothold into Real Estate Industry"


In an effort to expand its real estate practice, New York City–based national accounting and advisory firm Marcum LLP has merged with Cornerstone Accounting Group, ....

Marcum LLP's Merger with Cornerstone Accounting Group Featured in Long Island Business News Article "Marcum Adds Cornerstone Accounting Group"


Marcum is merging Manhattan-based Cornerstone Accounting Group into its operations, expanding in New York City and New Jersey.

Marcum LLP's Merger with Cornerstone Accounting Group Featured in GlobeSt.com Article "Marcum Snaps Up Cornerstone"


Marcum LLP, a national accounting and advisory firm on Monday announced a merger with Cornerstone Accounting Group, an accounting and assurance firm, focused on the ....

Marcum LLP's Merger with Cornerstone Accounting Group Featured in Accounting Today Article "Marcum Merges in Cornerstone Accounting"


Marcum LLP has merged in Cornerstone Accounting Group, an accounting and assurance firm that focuses on the real estate industry.

Real Estate Brochure



Select the region to view contacts.

Daniel  Vitulli

Real Estate Group
Real Estate Group
New York, NY



Marcum LLP is one of the largest independent public accounting and advisory services firms in the nation, with offices in major business markets throughout the U.S., as well as Grand Cayman, China and Ireland.

Learn More


750 3rd Avenue, 11th Floor
New York, NY 10017

Find an Office

(855) MARCUM1


Marcum Foundation


Leading Edge Alliance


© 2018 Marcum LLP. All Rights Reserved.
Privacy | Legal | Sitemap