Springfield, MA (PRWEB) April 17, 2008 -- Bob Dorfman, president of Dorfman Capital, announced the completion of a 20% Massachusetts historic rehabilitation tax credit sale associated with the rehabilitation of The Stately Temple House, 265 State Street, in Springfield, MA. The building, originally built in 1883, with additions built in 1893 and 1910, is the winner of the Springfield Preservation Award. It has been fully restored into an office building, which serves as the headquarters of the law firm, Denner Pellegrino, LLP. The developer of the building is Stately Temple, LLC and Attorney Raipher Pellegrino.

Profile from the New England Real Estate Journal on Bob Dorfman, President of Dorfman Capital.

Owners of properties listed in the National Register of Historic Places are eligible for a 20% Federal Rehabilitation Tax Credit (FRTC) for the certified rehabilitation of income-producing certified historic structures such as commercial, industrial, or rental residential buildings. In addition, many states including Mass., Conn. and R.I. have initiated state historic tax credit programs. The Mass. and Conn. historic tax credit programs are for 20% of qualified expenditures and the R.I. tax credit program is for 30% of qualified expenditures.