Obviously, you should consult your accountant or a tax attorney but as far as I know a 1031 exchange may work for you - that's where you purchase a similar property with the profit of the sale of your current investment. The only other way I know of would be to make the investment property into your primary residence. Again, as far as I know you have to live in a property at least two out of the past five years to qualify as a primary residence. If you haven't listed the property yet and are not currently working with a real estate agent, I have many properties in Queens and Long Island in my ten years in the business.
Century 21 Princeton Properties