1031 Exchange Deadline Calculator
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Station CRM identifies likely 1031 exchange buyers in NYC retail, sellers in their reinvestment window before they commit capital. See how it works →
The 1031 exchange deadlines explained
A 1031 exchange has two hard deadlines, both starting from the closing date of the relinquished property. First: you must identify replacement properties in writing to your qualified intermediary within 45 calendar days. Second: you must close on the replacement property within 180 calendar days. These clocks run concurrently, you don't get 45 days plus 180 days. The identification must happen within the 180-day window. Missing either deadline permanently disqualifies the exchange; the gain becomes taxable that year. The IRS provides no extensions for difficulty finding property, financing delays, or title issues. Extensions apply only in federally declared disaster areas. For brokers working with investors, knowing where a client sits in this window is the difference between timing a conversation and missing the deal entirely. Station CRM flags likely 1031 exchange buyers in NYC retail before they commit capital elsewhere.
The 45-day rule is where most exchanges fail. Sellers often close and assume they'll find something, then scramble in the last two weeks of the window and either make a poor property choice or miss the deadline entirely. The smart move is to identify before you sell, not after.
The three identification rules
Within the 45-day window, you must provide written identification to your QI. The IRS gives you three ways to do it, you can use any one of them.
3-Property Rule: Identify up to three properties of any value. Most exchanges use this, it gives you a primary target plus two backups.
200% Rule: Identify any number of properties as long as the total fair market value doesn't exceed 200% of the relinquished property's sales price. Useful when you're looking at multiple smaller replacement properties.
95% Exception: Identify any number of properties at any value, but you must close on 95% or more of the total identified value. This one is nearly impossible to execute in practice.
Practically, almost everyone uses the 3-Property Rule. Identify your target and two realistic alternates. Write it up formally, the identification must be signed and delivered to the QI before midnight on day 45.
What brokers need to know
From a brokerage standpoint, the 1031 buyer pool is one of the most predictable lead sources in CRE. When an owner sells a commercial property, the exchange clock starts. If they're doing a 1031, they need to buy within 180 days and identify within 45. That window is short, and they're motivated, they're not shopping around for the next two years.
Station CRM tracks NYC retail ownership transfers and flags likely exchange candidates based on transaction timing and deal structure. If someone sold a $3M property in the Bronx six weeks ago and hasn't redeployed capital, they're almost certainly in their window. That's a different conversation than a buyer who's been browsing listings for a year.
The Station CRM 1031 intelligence page covers how brokers use this data to time outreach and close deals faster.