Brad Wechsler phaidon and art space. combined basis 96 million, ( reviewed with brad and joe.) . add ten for restructuring . basis 106. mi. subtract total sale price, for both, lets say approx $8 - 15m . leaving loss of between 90 and 98 million long term loss. . AMT rate 28 % obama. tax 3.8%. city and state 12% total aprox 43 %. tax rate. savings 38.7 - 44 m