Residential

  • July 15, 2024

    Broker Guides $57M Sale Of Fla. Multifamily Community

    A Florida-based real estate company purchased a 296-unit multifamily Fort Myers, Florida, community in a $57 million deal brokered by JBM Institutional Multifamily Advisors, the broker announced Monday.

  • July 15, 2024

    Conn. Mixed-Use Project Moves Ahead With $165M Financing

    Four firms and one solo practitioner guided Barings and Counterpointe Sustainable Real Estate's provision of a combined $165.3 million for the second phase of Baywater Properties' mixed-use development in Darien, Connecticut, according to a Monday statement from Barings.

  • July 15, 2024

    Pa. Extends Tax Breaks To Longtime Pittsburgh Homeowners

    Pennsylvania will expand a property tax relief program to allow longtime homeowners in Pittsburgh to claim tax breaks related to rising real estate taxes under a bill signed by Democratic Gov. Josh Shapiro.

  • July 15, 2024

    DC Circ. Won't Rethink Revived DOJ Realtor Antitrust Probe

    The D.C. Circuit won't reconsider a ruling that allowed the U.S. Department of Justice to reopen an investigation into certain rules and policies of the National Association of Realtors, rejecting the trade group's request that the court correct "far-reaching and exceptionally important" legal errors.

  • July 15, 2024

    McElroy Deutsch Fights 'Malicious' Claim In Exec Fraud Case

    McElroy Deutsch Mulvaney & Carpenter LLP and its former business development director, who is accused of stealing millions from the firm partially via fraudulent credit card use, are at odds over whether the firm's ex-employee should be allowed to bring a malicious prosecution counterclaim in New Jersey state court.

  • July 15, 2024

    Multifamily CMBS Loan Distress Keeps Climbing

    The percentage of commercial mortgage-backed securities loans for multifamily properties in distress has more than tripled since January, reaching new heights in June, per a report from CRED iQ.

  • July 15, 2024

    LendingTree Urges FCC To Narrow Lead Consent Rule

    Loan marketplace LendingTree is asking the Federal Communications Commission to add an exception to its new "lead generator" consent rule, saying that as it's currently constructed, the rule disadvantages small businesses competing with larger brand names.

  • July 15, 2024

    TPG Real Estate Buys MHC Portfolio In $740M Deal

    Canadian Apartment Properties Real Estate Investment Trust on Monday revealed it has agreed to sell its manufactured-home community portfolio to private equity giant TPG's real estate platform for $740 million.

  • July 12, 2024

    Law360 Names 2024's Top Attorneys Under 40

    Law360 is pleased to announce the Rising Stars of 2024, our list of 158 attorneys under 40 whose legal accomplishments belie their age.

  • July 12, 2024

    Property Plays: Brookfield, Bally's, Kushner Cos.

    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.

  • July 12, 2024

    Conn. Justices Avoid Entanglement Issues In Rabbi Land Row

    The Connecticut Supreme Court on Friday agreed that a property dispute between the Chabad Lubavitch of Western and Southern New England Inc. and a Stamford rabbi belongs before a private religious panel, settling the case on arbitration principles and declining to analyze broader entanglement questions.

  • 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

    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

    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.

Expert Analysis

  • After Chevron: Impact On CFPB May Be Limited

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    The U.S. Supreme Court's decision in Loper Bright Enterprises v. Raimondo is likely to have a limited impact on the Consumer Financial Protection Bureau's regulatory activities, and for those who value due process, consistency and predictability in consumer financial services regulation, this may be a good thing, says John Coleman at Orrick.

  • 7th Circ Joins Trend Of No CGL Coverage For Structural Flaws

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    The Seventh Circuit, which recently held potential structural instability did not count as property damage under a construction company's commercial general liability policy, joins a growing consensus that faulty work does not implicate coverage without tangible and present damage to the project, say Sarah Abrams at Baleen Specialty, and Elan Kandel and James Talbert at Bailey Cavalieri.

  • In The CFPB Playbook: Making Good On Bold Promises

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    The U.S. Supreme Court's decision upholding the Consumer Financial Protection Bureau's funding structure in the second quarter cleared the way for the bureau to resume a number of high-priority initiatives, and it appears poised to charge ahead in working toward its aggressive preelection agenda, say Andrew Arculin and Paula Vigo Marqués at Blank Rome.

  • FBI Raid Signals Growing Criminal Enforcement Of Algorithms

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    The U.S. Department of Justice Antitrust Division's increased willingness to pursue the use of algorithmic pricing as a potential criminal violation means that companies need to understand the software solutions they employ and stay abreast of antitrust best practices when contracting with providers, say attorneys at Rule Garza.

  • State Licensing Pitfalls Mortgage Servicers Must Beware

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    A recent enforcement action from the Washington Department of Financial Institutions demonstrates how subtle distinctions in state mortgage servicer licensing laws may come as a surprise to some companies, even if they never directly receive payments or interact with borrowers, says Clayton Swears at Hudson Cook.

  • Keys To Strong Parking, Storage Contracts For NYC Buildings

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    Drafting and enforcing unambiguous parking and storage unit license agreements are essential tasks for co-op and condo boards in New York City, with recent cases highlighting how prudent terms can minimize potential headaches, says Matthew Eiben at Rosenberg & Estis.

  • Solving Puzzles Makes Me A Better Lawyer

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    Tackling daily puzzles — like Wordle, KenKen and Connections — has bolstered my intellectual property litigation practice by helping me to exercise different mental skills, acknowledge minor but important details, and build and reinforce good habits, says Roy Wepner at Kaplan Breyer.

  • Realtor Settlement May Create New Antitrust Pitfalls

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    Following a recent antitrust settlement between the National Association of Realtors and home sellers, practices are set to change and the increased competition may benefit both brokers and homebuyers, but the loss of the customary method of buyer broker compensation could lead to new antitrust concerns, says Colin Ahler at Snell & Wilmer.

  • What Fla. Ruling Means For Insurer Managed Repair Programs

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    A recent Florida state court ruling in Fraga v. Citizens Property Insurance, holding that the insurer could not seek to add additional terms in its managed repair program consent form, should promote clear written contract terms that clarify the relationship between insurers, policyholders and contractors, says Chip Merlin at Merlin Law Group.

  • Preparing For CFPB 'Junk Fee' Push Into Mortgage Industry

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    As the Consumer Financial Protection Bureau considers expanding its "junk fee" initiative into mortgage closing costs, mortgage lenders and third parties must develop plans now that anticipate potential rulemaking or enforcement activity in this space, say attorneys at Morgan Lewis.

  • After Chevron: Opportunities For Change In FHFA Practices

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    The U.S. Supreme Court's overturning of the Chevron doctrine should lead to better cooperation between the Federal Housing Finance Agency and Congress, and may give the FHFA a chance to embrace transparency and innovation and promote sustainable housing practices, says Mehdi Sinaki at Michelman & Robinson.

  • NC Banking Brief: All The Notable Legal Updates In Q2

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    After federal banking agencies last quarter released a supplemental final rule updating the Community Reinvestment Act, North Carolina banks involved in community development should consider how the new rule might open up opportunities for investment and services that can benefit underserved areas, says Adam Goldblatt at Michael Best.

  • Boxing Makes Me A Better Lawyer

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    Boxing has influenced my legal work by enabling me to confidently hone the skills I've learned from the sport, like the ability to remain calm under pressure, evaluate an opponent's weaknesses and recognize when to seize an important opportunity, says Kirsten Soto at Clyde & Co.