SITUATION: a pair of distant cousins learn they have inherited the estate of their mutal great-uncle; he died intestate, and the cousins inherited by default after being traced by the probate office. The estate consists of a four-story (with basement) brownstone in Brooklyn, which was bought around WW2 and has passed down in a direct line. The great-uncle also ran an antiques shop out of the ground-floor level. The GU (for reasons of his own) wasn't one for paperwork, so it was very difficult for the probate office to find out the exact income of the store.
1) what kind of inheritance tax would they have to pay in actual money? (ballpark figure is fine)
2) Could they get some kind of installment plan to pay the tax?(one of the cousins has recently been honorably discharged from the army and the other is a graduate student on sabbatical.) Or would they have to, say, get a bank loan to pay off the tax at once?
3) near the end of the story, the cousins (for plot reasons) decide to take over the antique store and run it themselves. They've also become friends with an old acquaintance of the GU who worked on commission for him as a buyer, and is willing to do the same for them. Would running a business out of the building affect the above at all? What if their new friend bought in as a partner - would he be expected to pay any of it (I don't think so, but best to check)? Would that count as some kind of income to affect a possible installment plan?
4) originally, the cousins planned to sell the building; what kind of sum could they have expected for selling/renting out the building? (the ground floor is retail; the top three floors are bare-bones apartments) it's in good condition, but needs a great deal of updating; most of the fixtures haven't been upgraded since the 1980's or so.
previously searched: inheritance tax+US; brooklyn; real estate, NYC;