Yes. Like-kind for real property means any real property held for investment or business use - there are no geographic restrictions. You can exchange a NYC condo into Florida rental property, a California commercial building, or vacant land in Texas. The only requirement is that both properties are held for investment or business purposes, not personal use. Co-op shares do not qualify because they are personal property, not real property.
From the seller playbook: 1031 Exchange Strategy for Investment Property Sellers
This is general information, not legal, tax or accounting advice. Every situation is different. Talk to a licensed attorney, accountant or tax professional before you act.
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