In nearly 20 years as a Cost Segregation Professional, Capstan’s Ziv Carmel thought he’d seen it all. He was wrong.
This fall, Ziv journeyed to scenic Norway, Maine, to explore The Woods Maine, a high-end custom treehouse that combines bespoke and bucolic with remarkable results. The Woods Maine is a privately-owned Luxury Treehouse designed by world-renowned Treehouse Master, Pete Nelson. The stars of Animal Planet’s Treehouse Masters, Pete Nelson and Nelson Treehouse & Supply are artists who seek to make everyone feel “at home in the trees.” With The Woods Maine, they certainly succeeded.
Boasting a full kitchen with luxury appliances, air conditioning, and DirectTV, The Woods is not the treehouse of Ziv’s childhood. Whitewashed barn wood, cozy plaid linens, gleaming brass fixtures – every detail of the 1,000 square foot property has been carefully considered to evoke an aesthetic that is simultaneously modern and rustic, luxurious and pastoral.
But Ziv wasn’t just there to wonder at the beauty of the property.
The Woods made an excellent subject for a cost segregation study. Ziv was able to move 14.9% of assets to 5-year and another 14.9% to 15-year land improvements. Since The Woods was placed-in-service in 2019, these shorter-lived assets were eligible for 100% bonus depreciation under the Tax Cuts and Jobs Act. The resulting first-year tax savings exceeded 10% of the property’s entire basis, and the owners of the property were delighted with the results.
The Woods is one of the most unique and inspired properties Ziv has ever studied. Take a look at the photos from his trip, and if you’d like to see more, feel free to visit https://www.thewoodsmaine.com/.