Transferring property from one LLC to another // Commercial rates

[Mathieu Roegiers]

Hi all, 

I have an LLC in NY with one apartment. I have, with my brothers, created a new LLC and signed for a second apartment. We are trying to close since March, but due to covid 19, we are still waiting for the Tax ID nr of the newly created LLC. We have been told this will only be in sept/oct, and the seller is getting nervous to close. Quite frankly, so are we.

Would there be legal/tax/Financial implications in closing with the first, already established LLC (of which I am the sole owner), and, as soon as we obtain the Tax ID nr for the second LLC (sept/Oct), transfer this apartment from the existing LLC to the new one (owned by 4 brothers)?

I do not want to attract unnecessary audits, IRS problems, or any other. Fees to transfer should also not outweigh the benefit of closing sooner and getting rental income now already. 

Thanks for all your advice. 

On a separate note, which commercial rates are you guys finding on the market right now? Both apartments were purchased in cash, and we want to refinance both, and buy a few more. However the best (and only) quote so far is 7% fixed (30 yrs) and 60% LTV, which looks quite bad to me.

We are non citizens and non residents so that takes away a few options available to US residents/citizens.