Residential

  • July 12, 2024

    Behind Ex-McElroy Deutsch CFO's Ch. 11

    McElroy Deutsch Mulvaney & Carpenter's former chief financial officer, who has admitted to skimming off $1.5 million from his firm, has filed for bankruptcy in New Jersey as he faces both a civil suit and criminal charges over the embezzlement.

  • July 12, 2024

    DC To Offer 15-Year Tax Freeze For Office Conversion Projects

    Washington, D.C., plans to offer a 15-year property tax freeze for projects that aim to reposition an office building for a different commercial use, building on the city's larger effort to enliven its downtown, according to an announcement by Mayor Muriel Bowser.

  • July 12, 2024

    FHFA Unveils New Protections For Multifamily Tenants

    Fannie Mae and Freddie Mac will institute new tenant protections for multifamily properties financed by both enterprises, the Federal Housing Finance Agency announced Friday.

  • July 12, 2024

    Loan Guarantor Can't Dodge Citibank's Foreclosure Bid

    A New York federal judge refused to dismiss a loan guarantor from Citibank's mortgage loan foreclosure suit accusing the owner of a Brooklyn apartment building of defaulting on a $15 million commercial mortgage loan.

  • July 11, 2024

    Biden's FDIC Pick Hangs Tough Amid GOP Doubts On Record

    President Joe Biden's candidate for Federal Deposit Insurance Corp. chair faced scrutiny Thursday as Republican senators at her nomination hearing expressed their skepticism about her readiness to lead the agency, but her critics nevertheless appeared unlikely to derail her prospects for confirmation outright.

  • July 11, 2024

    Allstate Must Face Deflated Payments Suit, Judge Rules

    Allstate cannot escape a proposed class action accusing the insurer of wrongfully depreciating labor costs as part of actual cash value payments to insureds for property damage, an Arizona federal judge ruled, finding that the named plaintiff didn't lack standing and that her claims weren't time-barred.

  • July 11, 2024

    Ross Steps Down At Related Cos. To Run Florida-Based Firm

    Stephen M. Ross, a giant in the real estate development world, is stepping away from his leadership role as chairman of Related Cos., which he founded in 1972, to focus on the South Florida market as the head of a new firm.

  • July 11, 2024

    Condo Owner Can Sue Over Icy Sidewalk, Mich. Justices Rule

    A condominium owners' association can be sued by a member who slipped on ice in a common area, the Michigan Supreme Court ruled Thursday, finding an association has a duty to exercise reasonable care to protect condo owners in shared spaces.

  • July 11, 2024

    Pa. Condo Owner Group Takes Inner-Tower Conflict To Court

    The residents association of a downtown Pittsburgh condo building sued the building's commercial association in state court, alleging they have been improperly denied access to commercial sections of the building needed to complete HVAC repair work.

  • July 11, 2024

    Lender Seeks Receivership Of Goldman Sachs SF Properties

    A lender affiliated with the Royal Bank of Canada claimed in California state court that a company affiliated with Goldman Sachs and a property owner defaulted on a $162 million loan and urged the court to place the company's property portfolio into receivership.

  • July 11, 2024

    CLO Holder Can't Duck Portfolio Manager's Feud Just Yet

    A New York federal court has refused to finalize a February decision dismissing all claims against an investment scheme created to hold collateralized loan obligations whose liquidation is at the center of a sprawling dispute.

  • July 11, 2024

    Pa. Lawmakers OK Pittsburgh Homeowner Tax Break Program

    Pennsylvania would authorize Pittsburgh to adopt a property tax relief program that would let longtime homeowners claim tax breaks related to rising real estate taxes under a bill that narrowly passed the state House and next goes to Democratic Gov. Josh Shapiro.

  • July 11, 2024

    7th Circ. Says Indiana City's Property Seizure Was Rational

    The Seventh Circuit sided with an Indiana city and its eminent domain seizure of local property owned by a fireworks business, ruling that the city's takeover of the property was rational.

  • July 10, 2024

    NJ Property Developer Files Ch. 11 With Up To $50M Liabilities

    Real estate developer JGA Development LLC, which owns and operates 84 units and has been developing dozens more, filed for Chapter 11 protection in New Jersey on Tuesday with up to $50 million each of assets and liabilities.

  • July 10, 2024

    LA Sues To Block Short-Term Rental Operation

    The City of Los Angeles accused a Ukrainian business owner and his cohorts in California state court of illegally advertising and booking unregistered short-term rentals "thousands upon thousands of times" and raking in millions of dollars.

  • July 10, 2024

    NJ Panel Says Tax Amendment Challenge Had No Real Claim

    A New Jersey state appeals court on Wednesday tossed a challenge to an amendment blocking certain appeals from being litigated in the state's tax court, reasoning that parties can still fight tax matters in trial court.

  • July 10, 2024

    NJ Justices OK Class Waivers Sans Arbitration Mandates

    Class action waivers don't require a mandatory arbitration provision to be enforceable, the New Jersey Supreme Court ruled Wednesday, while also warning that waivers deemed unconscionable for other reasons may be invalidated.

  • July 10, 2024

    Property Owners, Developers End $34M Apartment Sale Suit

    A real estate investor, a pair of property sellers and First American Title Insurance Co. have agreed to permanently drop claims involving the $34 million sale of two Ann Arbor, Michigan, student apartment buildings, according to a federal judge's order.

  • July 10, 2024

    Federal Claims Tossed In Colo. Short-Term Rental Row

    A Colorado federal judge partially dismissed and remanded a suit filed by a nonprofit representing vacation rental owners who claim that a resort town's laws governing short-term rental licenses are overly restrictive.

  • July 10, 2024

    Mich. County Fights To Keep $217M Edenville Dam Repair Tax

    Homeowners attacking a localized tax to fund the reconstruction of four dams have already had a chance to contest the assessment and shouldn't get a second one, a Michigan county told a federal judge Tuesday.

  • July 10, 2024

    NY City Adopts 'Good Cause' Eviction Protections Once More

    Poughkeepsie, New York, became the third city to opt in to "good cause" eviction protections since the state Legislature adopted the renter safeguards via the fiscal year 2025 budget, years after a local version of the regulation was struck down in court.

  • July 10, 2024

    7th Circ. Says Foreclosure Limits Man's Fire Coverage Claim

    A homeowner did not have an insurable interest in the full value of a home that burned down while in foreclosure, the Seventh Circuit ruled, affirming that recovery was limited to the value of his temporary right to possess the property until 30 days after its judicial sale was confirmed.

  • July 10, 2024

    Former McElroy Deutsch CFO Hits Ch. 11 Amid Theft Cases

    McElroy Deutsch Mulvaney & Carpenter's former chief financial officer filed for bankruptcy in New Jersey this week as he awaits sentencing for embezzling over $1.5 million from the firm over a period of years via fraudulent bonuses.

  • July 10, 2024

    The Real Estate Bankruptcies Making Headlines This Year

    The real estate industry is no stranger to distress, but recent market headwinds have made it even harder for certain companies to chart the course to calmer seas. Catch up on the major real estate bankruptcy developments that have made headlines so far this year.

  • July 10, 2024

    Real Estate Fundraising Charts Slow Recovery

    Private real estate fundraising remains fairly weak at the midpoint of the year, though investors have been building more of an appetite for the property industry that should lift prospects in the coming months.

Expert Analysis

  • What NYC's Green Fast Track Means For Affordable Housing

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    New York City's Green Fast Track for Housing initiative, which went into effect last month, aims to speed up the environmental review process for modest residential developments and could potentially pave the way for similar initiatives in other cities, say Vivien Krieger and Rachel Scall at Cozen O'Connor.

  • The Often Overlooked NY Foreclosure Notice Requirements

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    As multifamily real estate defaults mount, New York foreclosing parties should be aware of pitfalls and perils that can await the litigant who is not prepared to ensure adherence with tenant notice requirements under the Real Property Actions and Proceedings Law, say Christopher Gorman and John Muldoon at Rosenberg & Estis.

  • Skiing And Surfing Make Me A Better Lawyer

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    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.

  • Zoning Reform May Alleviate The Affordable Housing Crisis

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    As America's affordable housing issues continue to worsen, zoning reform efforts can help to provide more affordable homes and mitigate racial and economic segregation, though opposition from residents and in courts could present challenges, say Evan Pritchard and Madeline Williams at Cozen O'Connor.

  • NJ Justices Clarify First-Party Indemnification Availability

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    In Boyle v. Huff, the New Jersey Supreme Court recently held that indemnification can be available in first-party claims, resolving an open question and setting up contracting parties for careful negotiations around indemnity clauses, says Todd Leon at Marshall Dennehey.

  • Fla. HOA Reforms Bring Major Wins For Homeowners

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    A recently signed law brings broad changes for homeowners associations in Florida, alleviating some pressure imposed by overly restrictive rules and potentially setting up litigation surrounding how HOAs enforce their governing documents, says Christopher Miller at Varnum.

  • Addressing Labor Shortages In The Construction Industry

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    As the construction industry's ongoing struggle with finding sufficient skilled workers continues, companies should consider a range of solutions including a commitment to in-house training and creative contracting protocols, say Brenda Radmacher and Allison Etkin at Akerman.

  • A Framework For Investigating Commercial Loan Fraud

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    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

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    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.

  • How NY Co-Ops Can Minimize Sale Rejections Based On Price

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    New York co-op sales are regularly rejected for being below undisclosed price minimums, and co-op boards should address this problem by sharing information more transparently and allowing some flexibility for below-market sales, say Pierre Debbas and Seth Feldman at Romer Debbas.

  • Money, Money, Money: Limiting White Collar Wealth Evidence

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    As courts increasingly recognize that allowing unfettered evidence of wealth could prejudice a jury against a defendant, white collar defense counsel should consider several avenues for excluding visual evidence of a lavish lifestyle at trial, says Jonathan Porter at Husch Blackwell.

  • High Court's BofA Ruling Leaves State Preemption Questions

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    A recent U.S. Supreme Court decision in Cantero v. Bank of America sheds light on whether certain state banking regulations apply to federally chartered banks, but a circuit split could still force the Supreme Court to take a more direct position, says Brett Garver at Moritt Hock.

  • How A Bumblebee Got Under Calif. Wildlife Regulator's Bonnet

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    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.