Commercial
-
July 01, 2024
Ill. Tax Applies To Re-Renters Of Hotel Rooms, Dept. Says
Illinois will impose an occupation tax on people who re-rent hotel rooms in the state as part of recently enacted omnibus legislation, the state Department of Revenue said.
-
July 01, 2024
NYC Real Estate Week In Review
Hirschen Singer and Kramer Levin are among the law firms that handled the largest New York City real estate deals that hit public records last week, a busy period that saw eight deals north of the $20 million mark become public.
-
July 01, 2024
Orrick Renews Black Rock Tower Lease
Orrick Herrington & Sutcliffe LLP has agreed to a lease renewal for its six floors in Midtown Manhattan's Black Rock tower, CBRE announced Monday.
-
July 01, 2024
Gov. Office Shedding Pushes DC Vacancies To Record High
The General Services Administration's moves to cut back its footprint in Washington, D.C., drove the vacancy rate for the city's office market to a record high of 22.4%, with nearly half of the previous quarter's occupancy loss stemming from federal government lease changes, according to CBRE.
-
July 01, 2024
Hinckley Adds 2 McElroy Deutsch Attys To Real Estate Team
Hinckley Allen & Snyder LLP has expanded its offerings in the Constitution state, adding two commercial real estate financing attorneys from McElroy Deutsch Mulvaney & Carpenter LLP.
-
July 01, 2024
Top Real Estate Atty Leaves Willkie To Co-Lead Weil Practice
Willkie Farr & Gallagher LLP's former real estate department co-chair and New York co-managing partner, known for high-profile work that includes the largest real estate investment trust initial public offering in U.S. history, is becoming co-leader of Weil Gotshal & Manges LLP's real estate practice, the firm announced Monday.
-
July 01, 2024
Manhattan Office Leasing Marks Annual Gains In Q2
JLL said in a report Monday that office leasing activity in Manhattan during the second quarter of 2024 was higher than last year thanks largely to relocations led by a major law firm in June.
-
June 28, 2024
Chevron's End Is Just The Start For Energized Agency Foes
By knocking down a powerful precedent that has towered over administrative law for 40 years, the U.S. Supreme Court's right wing Friday gave a crowning achievement to anti-agency attorneys. But for those attorneys, the achievement is merely a means to an end, and experts expect a litigation blitzkrieg to materialize quickly in the aftermath.
-
June 28, 2024
'Nothing Stopping' Collection On $10B Verdict, LA Judge Says
A Los Angeles judge on Friday decided to amend the judgment from a $10 billion verdict that found business owner Haresh Jogani stole a multibillion-dollar real estate business from his four brothers, awarding stock potentially worth billions to the brothers while dismissing his attorney's objections that the order is not allowed due to Haresh Jogani's appeal.
-
June 28, 2024
Wyndham Can't Escape Ohio Sex Trafficking Liability Suit
Wyndham Hotels lost its bid to escape a woman's lawsuit alleging it ignored obvious signs she was trafficked for sex at a Knights Inn brand hotel when an Ohio federal judge ruled Friday that she sufficiently alleged the company was directly liable for harming her.
-
June 28, 2024
In Chevron Case, Justices Trade One Unknown For Another
The U.S. Supreme Court's decision to overrule a decades-old judicial deference doctrine may cause the "eternal fog of uncertainty" surrounding federal agency actions to dissipate and level the playing field in challenges of government policies, but lawyers warn it raises new questions over what rules courts must follow and how judges will implement them.
-
June 28, 2024
Conn. Court Shouldn't Hear Anti-Dispensary Appeal, City Says
A Connecticut appeals court should not hear a case brought by an anti-cannabis organization in Stamford that is trying to undo a court-approved settlement that allowed for the opening of a dispensary, the city's Zoning Board has argued.
-
June 28, 2024
Seattle Co. Owes $5.6M For Upgrades At Old Fed Building
A company that owns the Seattle Federal Reserve Building owes a construction contractor $5.6 million for renovations on two floors, a Washington state court has ruled.
-
June 28, 2024
Final Rules Exempt REITs From Stock Buyback Tax
Real estate investment trusts and regulated investment companies may be able to avoid the stock buyback tax but would still be required to keep records under final regulations on reporting and paying the tax released by Treasury and the IRS Friday.
-
June 28, 2024
How BCLP Helped Build The New Stonewall Visitor Center
The Stonewall National Monument Visitor Center opened on Friday with help from over a dozen Bryan Cave Leighton Paisner LLP attorneys who provided more than 2,000 hours of pro bono legal counsel.
-
June 28, 2024
Shumaker Bolsters Fla. Office With Englander Fischer Litigator
After opening its office in St. Petersburg, Florida, in February, Shumaker Loop & Kendrick LLP has added a former Englander Fischer LLP attorney there, bringing on a lawyer with over a decade of experience handling business and real estate litigation.
-
June 28, 2024
5th Circ. Tosses Texas Health System's COVID-19 Suit
The largest nonprofit health system in Texas cannot get coverage for COVID-19-related business interruption losses it said totaled over $192 million, the Fifth Circuit affirmed, highlighting previous circuit precedent establishing that COVID-19 does not cause "physical loss or damage."
-
June 28, 2024
Venable's Real Estate Finance Group Gains Partner In NY
Venable LLP has expanded its real estate finance group by hiring a New York-based partner from Nelson Mullins Riley & Scarborough LLP.
-
June 28, 2024
Supreme Court Strikes Down Chevron Deference
The U.S. Supreme Court on Friday overturned a decades-old precedent that instructed judges about when they could defer to federal agencies' interpretations of law in rulemaking, depriving courts of a commonly used analytic tool and leaving lots of questions about what comes next.
-
June 27, 2024
Proposed Calif. Insurance Tradeoff Draws Mixed Reactions
Insurance industry representatives and consumer advocates in California are pitching opposing visions for a proposed regulatory tradeoff at the heart of state officials’ efforts to increase homeowners insurance availability at a time of heightening wildfire risks.
-
June 27, 2024
NY Regulators Say Pot Companies' Bid Would Ruin Industry
New York's cannabis authority has urged a state court to toss a lawsuit seeking to invalidate hundreds of retail permits over claims that the agency gave special treatment to certain applicants, arguing that granting such a request would be "financially ruinous" for many and detrimental to the "emerging retail cannabis industry."
-
June 27, 2024
IRS To Offer Combined Filing For Energy Investment Credits
The Internal Revenue Service will let clean energy project owners that are claiming investment tax credits for more than 200 facilities file the claims with a single form, an agency official said Thursday.
-
June 27, 2024
Goldman Raises $3.4B For Real Estate Secondaries Fund
Goldman Sachs Alternatives raised $3.4 billion in capital commitments for its latest real estate secondaries fund, making it the largest such fund to date, per the company.
-
June 27, 2024
Ill. Extends R&D Tax Credit, Adds Quantum Computing Credits
Illinois extended its research and development tax credit, expanded eligibility for a program that provides tax breaks to electric vehicle manufacturers and created tax credits for quantum computer component parts manufacturers under a bill signed by Gov. J.B. Pritzker.
-
June 27, 2024
AG Says Trump Recusal Bid Relies On 'Distortion Of Facts'
New York's attorney general says Donald Trump is relying on a "distortion of facts" in seeking to oust the judge who ordered the former president to pay $465 million in penalties in his civil fraud case.
Property Plays: Goldman, WaFD, The Alamo
Property Plays is a weekly roundup of the latest loans, leases, sales and projects around the country. Send your tips — all confidential — to realestate@law360.com.
EPA Funding Spurs Remediation Push On Alaska Native Land
Thousands of sites contaminated by WWII, oil and gas exploration and mining were transferred to Alaska Native ownership in a 1971 deal settling land claims in the state. Now, an influx of funding from the Bipartisan Infrastructure Law and other sources has seriously boosted cleanup work.
How Real Estate Attys Should Prep For Possible Chevron Shift
The U.S. Supreme Court is likely only days away from deciding on the future of Chevron deference, a potential change that Holland & Knight LLP partner Lynn Calkins and her team expect to have widespread real estate ramifications touching everything from federal policy to local zoning.
Expert Analysis
-
A Case Study For Calif. Cities In Water Utility Takeovers
With growing water scarcity and drier weather looming, some local governments in California have sought to acquire investor-owned water utilities by eminent domain — but the 2016 case of Claremont v. Golden State Water is a reminder that such municipalization attempts must meet certain statutory requirements, say attorneys at Nossaman.
-
Skiing And Surfing Make Me A Better Lawyer
The skills I’ve learned while riding waves in the ocean and slopes in the mountains have translated to my legal career — developing strong mentor relationships, remaining calm in difficult situations, and being prepared and able to move to a backup plan when needed, says Brian Claassen at Knobbe Martens.
-
Lower Courts May Finally Be Getting The Memo After Ciminelli
A year after the U.S. Supreme Court again limited prosecutors' overbroad theories of fraud in Ciminelli v. U.S., early returns suggest that the message has at least partially landed with the lower courts, spotlighting lessons for defense counsel moving forward, says Kenneth Notter at MoloLamken.
-
A Framework For Investigating Commercial Loan Fraud
As commercial loan transactions are increasingly subject to sophisticated fraud schemes, lenders must adopt dynamic strategies to detect, investigate and mitigate these schemes, say attorneys at Baker Donelson.
-
Glassblowing Makes Me A Better Lawyer
I never expected that glassblowing would strongly influence my work as an attorney, but it has taught me the importance of building a solid foundation for your work, learning from others and committing to a lifetime of practice, says Margaret House at Kalijarvi Chuzi.
-
Yellow Corp. Lease Assumption Shows Landlord Protections
Yellow Corp.’s recent filing of a motion to assume unexpired leases is a helpful reminder to practitioners to maintain a long-term approach about what is most beneficial for an estate and to not let a debtor's short-term cash position dictate business decisions, says Kyle Arendsen at Squire Patton.
-
How A Bumblebee Got Under Calif. Wildlife Regulator's Bonnet
A California bumblebee's listing as an endangered species could lead to a regulatory quagmire as California Department of Fish and Wildlife permits now routinely include survey requirements for the bee, but the regulator has yet to determine what the species needs for conservation, says David Smith at Manatt.
-
The Clock Is Ticking For Fla. Construction Defect Claims
Ahead of the fast-approaching July 1 deadline for filing construction defect claims in Florida, Sean Ravenel at Foran Glennon discusses how the state's new statute of repose has changed the timeline, and highlights several related issues that property owners should be aware of.
-
Playing Chess Makes Me A Better Lawyer
There are many ways that chess skills translate directly into lawyer skills, but for me, the bigger career lessons go beyond the direct parallels — playing chess has shown me the value of seeing gradual improvement in and focusing deep concentration on a nonwork endeavor, says attorney Steven Fink.
-
Fishing Makes Me A Better Lawyer
Atop the list of ways fishing makes me a better lawyer is the relief it offers from the chronic stress of a demanding caseload, but it has also improved my listening skills and patience, and has served as an exceptional setting for building earnest relationships, says Steven DeGeorge at Robinson Bradshaw.
-
Circuit Judge Writes An Opinion, AI Helps: What Now?
Last week's Eleventh Circuit opinion in Snell v. United Specialty Insurance, notable for a concurrence outlining the use of artificial intelligence to evaluate a term's common meaning, is hopefully the first step toward developing a coherent basis for the judiciary's generative AI use, says David Zaslowsky at Baker McKenzie.
-
Ohio Tax Talk: The Legislative Push For Property Tax Relief
As Ohio legislators attempt to alleviate the increasing property tax burden, four recent bills that could significantly affect homeowners propose to eliminate replacement property tax levies, freeze property taxes for longtime homeowners, adjust homestead exemptions annually for inflation, and temporarily expand the homestead exemption, say Raghav Agnihotri and Rachael Chamberlain at Frost Brown.
-
Tips For Advising CRE Owners Affected By Houston Storms
As Houston residents begin the arduous process of recovery after this month's devastating storms, attorneys should guide commercial real estate owners and managers toward immediate action under their insurance coverage to facilitate restoration and a return to normalcy, says Justin Ratley at Munsch Hardt.