Residential
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November 18, 2024
NYC Real Estate Week In Review
Simpson Thacher and Paul Weiss are among the law firms that landed work on the largest New York City real estate deals that hit public records, a busy period that saw eight transactions above the $20 million mark become public.
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November 18, 2024
After High Court Snubs, What's Next For NY Rent Law Cases?
After the U.S. Supreme Court declined to review two cases challenging a tenant-friendly amendment to New York's rent regulations, attorneys say any future challenges will need to directly cite landlords' concrete injuries that stem from the state rent laws.
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November 18, 2024
NJ Justices To Consider Sanctions Against Town For Suing Attys
The New Jersey Supreme Court has decided to weigh in on whether state law provides municipalities with immunity from sanctions for frivolous litigation, as it takes up a long-running affordable housing case in Englewood Cliffs.
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November 18, 2024
Latham Leads Invitation Homes In $200M Acquisition JV
Latham & Watkins LLP advised Invitation Homes in forming a joint venture announced Monday to buy $200 million worth of newly constructed homes.
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November 15, 2024
Wash. Judge Says Junk Text Suit Must Lose Autodialer Claims
Consumers who were peppered with hundreds of unwanted text messages from a home improvement platform can move forward with their $400 million lawsuit accusing the company of ignoring the Do Not Call Registry, but will lose their autodialer claims, a Washington federal judge has ruled.
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November 15, 2024
Pa. Top Court Snapshot: Silent Partners, Skill Games In Nov.
The Pennsylvania Supreme Court's November argument schedule will task the justices with determining whether a property owner's absentee partner is an "indispensable party," whether CBD oil is reimbursable under workers' comp, and whether operating legally gray "skill games" should disqualify someone from getting a gaming license.
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November 15, 2024
Denver Voters Reject Sales Tax Hike For Affordable Housing
Denver voters narrowly rejected a ballot measure that would have increased the city's sales and use tax by 0.5 percentage points and dedicated the anticipated $100 million in revenue to the city's affordable housing efforts.
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November 15, 2024
Mass. Home's Value Should Be Lowered, Board Rules
A Massachusetts home in a flood plain should be granted a tax abatement of $860 and have its value lowered based on comparable sales in the area, the state Appellate Tax Board said in an opinion released Friday.
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November 15, 2024
Property Plays: Franchise Group, Kushner, Astrodome
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.
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November 15, 2024
Ga. Panel Says Homeowners Must Arbitrate Boundary Spat
The Georgia Court of Appeals on Friday ordered a property line spat between a construction company and a homeowner sent to arbitration, reversing a trial court's ruling that the issue fell outside the bounds of an arbitration provision within the original sale contract.
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November 15, 2024
Mass. Court Refuses To Set Defective Condo's Value At Zero
The owner of a Massachusetts condominium unit that he claimed was uninhabitable and worth nothing was lawfully denied the valuation abatement he sought, a state appeals court said Friday, upholding a tax board decision.
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November 15, 2024
Florida To Aid Condo Hurricane Upgrades With $30M Effort
Florida state officials launched a pilot program to help condominium associations prepare their properties for hurricanes with free inspections and grants for updates that could lower wind insurance costs.
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November 15, 2024
Ex-McElroy Deutsch Exec Says Firm Has No Claim On House
The former McElroy Deutsch Mulvaney & Carpenter LLP business development director whose husband pled guilty to stealing millions from the firm has argued that the time has come for the court to toss an attempt by the firm to put her house in a constructive trust.
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November 15, 2024
NY Real Estate Lender Bravo Names New GC And COO
New York City-based real estate lender Bravo Property Trust announced Friday it has brought on a new general counsel and chief operating officer with 20 years of experience and a deep network of industry connections, as the company looks to grow.
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November 15, 2024
HOA's Insurer Says Pool Chemical Injury Suits Aren't Covered
A homeowners association's insurer told a Virginia federal court it needn't cover underlying lawsuits alleging a lifeguard employed by the association's contractor allowed hazardous chemicals to spread and hurt pool patrons, arguing that its commercial general liability policy excluded bodily injury as a result of pollutants.
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November 15, 2024
KKR Leader Says The Real Estate Downturn Is Ending
The two-year real estate slump appears to be passing and the investment environment now looks like one of the most attractive that KKR & Co. Inc. has ever seen, a managing director for the private equity shop's real estate group said.
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November 14, 2024
LuLaRoe Hit With $164M Verdict In Contract, Fraud Trial
Troubled multilevel marketing company LuLaRoe has been saddled with a $164 million jury verdict in California state court for breaching its contract with a clothing supplier and fraudulently hiding assets in real estate ownership entities and a race car company to avoid paying up.
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November 14, 2024
NY Nursing Homes Ink $45M Deal To End AG's Fraud Suit
Four New York nursing homes have agreed to a $45 million deal that will end a civil lawsuit brought by the state accusing them of neglecting residents and defrauding Medicare and Medicaid, according to a Friday announcement by New York Attorney General Letitia James.
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November 14, 2024
Legal Aid Groups Accuse NYC Of Payment Delays
The nonprofits that provide legal aid to low-income tenants and immigrants in New York City say that due to city delays, they haven't been able to submit invoices for five months, threatening the groups' ability to pay workers and continue operating.
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November 14, 2024
Judge Slams Gov't For Resisting LA Campus Housing Orders
A California federal judge has told the federal government that it can't "resist accountability," rejecting a bid to stay court-ordered construction of housing for military veterans on a Los Angeles campus.
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November 14, 2024
Judge Pondering 3rd-Party Releases In LaVie Ch. 11 Plan
A Georgia bankruptcy judge on Thursday said he will have to consider arguments on whether third-party claim releases in skilled nursing facility operator LaVie Care Centers' Chapter 11 plan are truly consensual before he allows the restructuring to go forward.
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November 14, 2024
DC Council Issues Housing Tax Break Emergency Resolution
The District of Columbia Council approved an emergency resolution to enact legislation to implement a competitive process for the provision of tax abatements for housing developments while a recently passed measure to permanently authorize that process faces congressional review before it becomes law.
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November 14, 2024
Conn. Atty Must Pay $282K Default In Estate's Home Sale Suit
A Connecticut attorney must pay a $282,000 default judgment for distributing real estate proceeds to at least one "unknown party" and writing a bad check to a trust beneficiary after a $1.2 million home sale, a state trial court judge has ruled.
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November 14, 2024
JLL Forecasts End To 'Peak Waiting' For Construction Work
Commercial broker JLL expects moderating interest rates and building costs that have held mostly flat in 2024 to help lay the foundation for growth in the industry next year after a recent downturn in new project starts.
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November 14, 2024
NY Contractor Cops To Aiding Theft In Commercial Bribe Case
A New York contractor pled guilty on Thursday in the Manhattan district attorney's commercial bribery case alleging dozens of construction industry defendants conspired to steal from developers in a sprawling kickback scheme involving $100 million in contracts.
Expert Analysis
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Increased Scrutiny Raises Int'l Real Estate Transaction Risks
Recently proposed regulations expanding the Committee on Foreign Investment in the United States' oversight, a White House divestment order and state-level legislative efforts signal increasing scrutiny of real estate transactions that may trigger national security concerns, say Luciano Racco and Aleksis Fernández Caballero at Foley Hoag.
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Financial Incentives May Alleviate Affordable Housing Crisis
There is a wide array of financial incentives and assistance that the government can provide to both real estate developers and individuals to chip away at the housing affordability problem from multiple angles, say Eric DeBear and Madeline Williams at Cozen.
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Firms Must Offer A Trifecta Of Services In Post-Chevron World
After the U.S. Supreme Court’s Loper Bright Enterprises v. Raimondo decision overturning Chevron deference, law firms will need to integrate litigation, lobbying and communications functions to keep up with the ramifications of the ruling and provide adequate counsel quickly, says Neil Hare at Dentons.
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Portland's Gross Receipts Tax Oversteps City's Authority
Recent measures by Portland, Oregon, that expand the voter-approved scope of the Clean Energy Surcharge on certain retail sales eviscerate the common meaning of the word "retail" and exceed the city's chartered authority to levy tax, say Nikki Dobay at Greenberg Traurig and Jeff Newgard at Peak Policy.
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The Bank Preemption Ripple Effects After Cantero, Flagstar
The importance of federal preemption for financial institutions will only increase as technology-driven innovations evolve, which is why the U.S. Supreme Court's recent decision in Cantero v. Bank of America and vacatur of Kivett v. Flagstar Bank have real modern-day significance for national banks, say attorneys at WilmerHale.
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Being An Opera Singer Made Me A Better Lawyer
My journey from the stage to the courtroom has shown that the skills I honed as an opera singer – punctuality, memorization, creativity and more – have all played a vital role in my success as an attorney, says Gerard D'Emilio at GableGotwals.
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Assessing The Practicality Of Harris' Affordable Housing Plan
Vice President Kamala Harris' proposed "Build the American Dream" plan to tackle housing affordability issues takes solid recommendations into account and may fare better than California's unsuccessful attempt at a similar program, but the scope of the problem is beyond what a three-point plan can solve, says Brooke Miller at Sheppard Mullin.
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RealPage Suit Shows Growing Algorithm, AI Pricing Scrutiny
The U.S. Department of Justice's suit against RealPage for helping fix rental rates, filed last week, demonstrates how the use of algorithmic and artificial intelligence tools to assist with pricing decisions is drawing increasing scrutiny and action across government agencies, and specifically at the Federal Trade Commission and the DOJ, say Andre Geverola and Leah Harrell at Arnold & Porter.
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What To Expect From Evolving Wash. Development Plans
The current round of periodic updates to Washington counties' growth and development plans will need to address new requirements from recent legislation, and will also likely bring changes that should please property owners and developers, says Jami Balint at Seyfarth.
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Playing Golf Makes Me A Better Lawyer
Golf can positively affect your personal and professional life well beyond the final putt, and it’s helped enrich my legal practice by improving my ability to build lasting relationships, study and apply the rules, face adversity with grace, and maintain my mental and physical well-being, says Adam Kelly at Venable.
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Brownfield Questions Surround IRS Tax Credit Bonus
Though the IRS has published guidance regarding the Inflation Reduction Act's 10% adder for tax credits generated by renewable energy projects constructed on brownfield sites, considerable guesswork remains as potential implications seem contrary to IRS intentions, say Megan Caldwell and Jon Micah Goeller at Husch Blackwell.
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Law Firms Should Move From Reactive To Proactive Marketing
Most law firm marketing and business development teams operate in silos, leading to an ad hoc, reactive approach, but shifting to a culture of proactive planning — beginning with comprehensive campaigns — can help firms effectively execute their broader business strategy, says Paul Manuele at PR Manuele Consulting.
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Bank M&A Continues To Lag Amid Regulatory Ambiguity
Bank M&A activity in the first half of 2024 continued to be lower than in prior years, as the industry is recovering from the 2023 bank failures, and regulatory and macroeconomic conditions have not otherwise been prime for deals, say Robert Azarow and Amber Hay at Arnold & Porter.