Purchasing an LLC vs. the building for Tax Savings

[Sharon Tzib]

I just read a guru ascertaining a tax strategy for commercial properties.

He said in order to avoid paying the large transfer taxes which result from the sale of commercial projects/properties, buyers frequently request that sellers deed their property into an LLC (that the buyer creates & pays for), and then the buyer purchases the LLC (the original purchase contract is in the name of the yet to be created LLC), instead of the actual "building" itself.

First of all, is this a legal and legitimate strategy? And if so, will it work in a multi-family purchase?