Residential

  • May 01, 2024

    Fried Frank, Levitt & Boccio Guide $97M Cornell Campus Refi

    Cornell University refinanced Hudson Cos.' $97.5 million mortgage tied to a 350-unit sustainable residential tower on the university's New York City technology campus, in a deal guided by Levitt & Boccio LLP and Fried Frank Harris Shriver & Jacobson LLP, per property records.

  • May 01, 2024

    MDC's Top Attorney Resigns After Sekisui House Merger

    Homebuilder MDC Holdings said its general counsel has announced his departure after Japanese firm Sekisui House Ltd. acquired the company in a nearly $5 billion transaction in January.

  • May 01, 2024

    What Attys Are Saying About The PFAS CERCLA Designation

    In the days since the Environmental Protection Agency classified two "forever chemicals" as hazardous, real estate and environmental attorneys have been analyzing how the move applies to their work.

  • May 01, 2024

    Real Estate Authority Is Moving To Thursday

    Beginning May 9, Law360 Real Estate Authority's two weekly newsletters — Commercial and Residential — will be distributed Thursday morning.

  • May 01, 2024

    Kennedy Wilson, Haseko Buy $90M Wash. Multifamily Builds

    Real estate investment company Kennedy Wilson and Japanese construction company Haseko Corp. partnered to purchase a pair of multifamily properties spanning 350 units in Vancouver, Washington, for $90 million, Kennedy Wilson announced.

  • May 01, 2024

    Swiss Firm Empira Eyes Long-Term Growth In US Housing

    The head of U.S. investments for Switzerland-based real estate investment firm Empira Group shared insights with Law360 Real Estate Authority on the opportunities the company saw in U.S. housing that have driven its recent arrival and growth on this side of the Atlantic.

  • April 30, 2024

    2nd Circ. Revives Commerzbank RMBS Suit Against US Bank

    The Second Circuit on Tuesday revived part of a nearly decade-old Commerzbank AG lawsuit brought against U.S. Bank NA over its role as a trustee on a slew of pre-2008 crisis RMBS trusts, sending some of the German bank's previously dismissed claims back to district court for a "closer inspection."

  • April 30, 2024

    Real Estate Leaders Ask Congress For Less Stick, More Carrot

    The federal government should incentivize home construction and office-to-residential conversions, avoid imposing more capital requirement rules on banks and refrain from treating commercial real estate monolithically, industry leaders testified to members of Congress on Tuesday.

  • April 30, 2024

    NY Agencies Hit With Rental Assistance Bias Class Action

    New York City Housing Authority tenants on Tuesday filed a proposed class action alleging their landlord and the administrator of COVID emergency rental assistance intentionally discriminated against low-income Black and Hispanic renters by sending them to the back of the rental assistance line.

  • April 30, 2024

    Conn. Mortgage Co. Settles Data Breach Claims

    A mortgage company settled a consolidated data breach class action that accused the company in Connecticut federal court of being liable for a November 2023 data breach that compromised its customers' personal information.

  • April 30, 2024

    Deal Frees Douglas Elliman From Mo. Broker Fee Class Action

    Douglas Elliman has agreed to pay up to $117.5 million to exit a class action in Missouri federal court accusing the broker of causing home sellers to pay inflated commissions under rules set by the National Association of Realtors.

  • April 30, 2024

    Mich. Judge Admits Error In Cutting Predatory Lending Claims

    A Michigan federal judge admitted she was wrong to toss fair housing claims alleging a group of real estate companies ran a bulk home buying program that preyed on Black buyers, reviving the claims and reversing a decision to cut a defendant from the case.

  • April 30, 2024

    NYC Judge Upholds Hotel Taxes On Apartment Subleases

    A company that leased residential apartments in New York City is liable for more than $200,000 in disputed hotel taxes on short-term subleases of the units, an administrative law judge found.

  • April 29, 2024

    Kazakh Businessman Accused Of Stealing Coal Mine

    A Kazakh businessman schemed with the country's government to steal a coal mine, its proceeds, and its assets and laundered the proceeds to buy luxury U.S. real estate worth more than $100 million, according to a suit filed in New York state court.

  • April 29, 2024

    6th Circ. Revives Co.'s Malpractice Suit Against Ohio Firm

    The Sixth Circuit on Monday revived a Texas real estate developer's legal malpractice claim against an Ohio law firm, remanding the case back to a lower court to consider the viability of certain professional negligence claims.

  • April 29, 2024

    Zillow Fights Investor Cert. In Home Pricing Program Suit

    Zillow urged a Washington federal court not to certify a class of shareholders amid an investor's suit alleging he was misled about the performance of its home-flipping program, arguing that the alleged misstatements had no bearing on stock prices.

  • April 29, 2024

    DC Property Manager Can't Duck Utility Fee Claims

    A District of Columbia federal judge refused to toss a proposed class action lobbed by a former tenant against Bozzuto Management Co., leaving the property manager to face claims that its mishandling of utility charges violated consumer protection laws.

  • April 29, 2024

    Keller Williams Agent Can't Slip Robocall Class Action

    A Nevada federal judge refused to let a Keller Williams agent escape a proposed class action accusing her of violating the Telephone Consumer Protection Act by repeatedly using robocalls to contact someone whose cellphone number was on a national do-not-call registry.

  • April 29, 2024

    Defendant Seeks Tribe's Confidential Data In Smoke Shop Suit

    An entrepreneur being sued by the Cayuga Nation is arguing in New York federal court that he should be allowed to view "highly confidential" spreadsheets purportedly detailing revenue losses the tribe suffered due to an unlicensed smoke shop on tribal land, asserting he has no business ties to the store.

  • April 29, 2024

    Peer Street Plan Ruling Gets Delayed After Objector No-Show

    Real estate investment platform Peer Street Inc. will have to wait another week for a decision on confirmation of its Chapter 11 plan, after a Delaware bankruptcy judge declined Monday to rule on the relief because an objecting party wasn't present in court.

  • April 29, 2024

    Pa. Retirement Home Wants Ed Board Tax Challenge Nixed

    The nonprofit owner of a retirement community in a suburb of Pittsburgh has filed a lawsuit against the local school board claiming that the board violated a soon-to-expire payment in lieu of taxes, or PILOT, agreement that was brokered almost 15 years ago.

  • April 29, 2024

    Wash. Solar Co. Will Pay $465K To End Noncompete Suit

    A Washington state judge has given a preliminary nod to a $465,000 settlement to end litigation accusing a residential solar energy equipment company of forcing workers to sign illegal noncompete clauses as a condition of employment.

  • April 29, 2024

    Becker Adds Community Association Pro From Kaye Bender

    A community associations attorney from Kaye Bender Rembaum has jumped to Becker & Poliakoff PC to serve as a shareholder in the firm's West Palm Beach, Florida, office, the firm announced Monday.

  • April 29, 2024

    Builders Say State Rulemaking At Stake In Mich. PFAS Case

    A homebuilders' group has backed industrial giant 3M in urging the state's highest court to preserve a lower court ruling wiping out limits on forever chemicals, with a trade group official saying the decision could affect other state agency rulemaking.

  • April 29, 2024

    NYC Real Estate Week In Review

    Davis Polk, Greenberg Traurig and Simpson Thacher are among the law firms that handled the largest New York City real estate deals that hit public records last week, a period that saw two buildings trade for north of $100 million and a four-building portfolio also sell for nine figures.

Expert Analysis

  • The Year Ahead In Foreign Investment And National Security

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    In 2024, expect the Committee on Foreign Investment in the United States, already at the forefront of addressing national security threats, to increase monitoring and enforcement related to outbound investment, focus on supply chain resilience in nondefense sectors, and heighten oversight of agricultural transactions, say attorneys at Holland & Knight.

  • A Challenging CRE Environment Holds Opportunities In 2024

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    As the commercial real estate market faces reduced occupancy levels and rising financing costs, the new landscape will be favorable to those who can leverage capital, strategic vision and expertise to meet challenges like taking on distressed properties and converting office space to residential use, say Nesa Amamoo and Vered Rabia at Skadden.

  • A Former Bankruptcy Judge Talks 2023 High Court Rulings

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    In 2023, the U.S. Supreme Court issued four bankruptcy law opinions — an extraordinary number — and a close look at these cases signals that changes to the U.S. Bankruptcy Code will have to come from Congress, not the courts, says Phillip Shefferly at the University of Michigan Law School.

  • Children's Book Writing Makes Me A Better Lawyer

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    Becoming a children's book author has opened doors to incredible new experiences of which I barely dared to dream, but the process has also changed my life by serving as a reminder that strong writing, networking and public speaking skills are hugely beneficial to a legal career, says Shaunna Bailey at Sheppard Mullin.

  • DOJ Comments Reveal Road Ahead For Mortgage Redlining

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    Comments from two U.S. Department of Justice representatives at a recent fair lending conference show that the DOJ is prioritizing investigations and enforcement against redlining risks, and highlight important compliance steps for lenders, say Lori Sommerfield and Chris Willis at Troutman Pepper.

  • DOJ's RealPage Notice Signals Focus On Pricing Algorithms

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    The U.S. Department of Justice's Antitrust Division recently filed a statement of interest in the Realpage multidistrict litigation to stake out its position that price-fixing algorithms pose a great anti-competitive threat, which suggests that the DOJ and private parties may continue to bring similar actions in the future, say attorneys at Simpson Thacher.

  • 4 Key Types Of Coming FHLBank Reforms To Watch

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    Though the Federal Housing Finance Agency's recent report on the Federal Home Loan Bank System has received relatively little attention, the regulatory and legislative changes it proposes in four categories herald the start of a significant effort by the agency to reform the system’s structure and operations and overhaul requirements for member banks, say attorneys at Mayer Brown.

  • Property Owner Considerations Around Electric Vehicle Bans

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    In light of a property management company's recent ban on electric vehicles in Canada, it's worth considering how similar bans might fare in Florida and other U.S. states, and the legal ramifications that could potentially arise, say Gerardo Ortega and Gary Kaleita at Lowndes.

  • Trump NY Fraud Trial Shows Civil, Criminal Case Differences

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    Former President Donald Trump’s civil fraud trial currently unfolding in New York provides a reminder that civil bench trials can be just as damaging, if not more so, than criminal prosecutions, due to several key elements of civil litigation procedure, says retired attorney David Moskowitz.

  • Why NYC Building Owners Shouldn't Ignore Emissions Rule

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    New rules from the New York City Department of Buildings clarify the previously vague good faith efforts that building owners may make to mitigate penalties for not complying with a major carbon emission law that takes effect in January, and should discourage owners from simply paying the fines instead of decarbonizing, says William McCracken at Moritt Hock.

  • What NJ's Green Remediation Guidance Means For Cleanups

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    Recent guidance from the New Jersey Department of Environmental Protection promoting greener approaches to restoring contaminated sites demonstrates the state's commitment to sustainability and environmental justice — but could also entail more complexity, higher costs and longer remediation timelines, say J. Michael Showalter and Bradley Rochlen at ArentFox Schiff.

  • A New Path Forward For Surplus Land Owners In Calif.

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    A new California law signed last month enables some religious institutions and nonprofit colleges to build affordable housing on surplus land, and its requirements — which are more manageable than they may appear — will support long-term benefits including good housing and the survival of worthy institutions, says Stephen Wilson at Withers.

  • Inside Bank Regulators' Community Lending Law Overhaul

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    The federal banking agencies' recently finalized changes to the Community Reinvestment Act not only account for the gradual shift to an environment where lending and deposit-taking are primarily conducted online, but also implement other updates such as diversity initiatives and a new series of lending tests, say attorneys at Norton Rose.