Commercial

  • September 27, 2024

    NYC Affiliates Of Troubled Miami Office Owner File Ch. 11

    Two entities related to The Gateway at Wynwood, an office building in a hip Miami neighborhood whose owner went bankrupt in July, are now themselves seeking Chapter 11 protection in New York, each claiming a bit over $52 million in liabilities.

  • September 27, 2024

    Feds Subpoena NYC Mayor's Top Aide, DA Seizes Phone

    A senior aide and confidante of New York City Mayor Eric Adams had her phone and records seized by state prosecutors and was separately subpoenaed by federal agents on Friday, the same day Adams was arraigned on federal corruption charges.

  • September 27, 2024

    Hurricane Helene Losses Could Exceed $5B: Market Analyst

    The losses from Hurricane Helene, a Category 4 storm that slammed into Florida's panhandle Thursday evening, could exceed $5 billion and challenge insurers dealing with high reinsurance costs, according to an early estimate from the insurer credit rating company AM Best.

  • September 27, 2024

    Deal Cools Sale Broker's Beef With Cold-Cheese Pizzeria

    A Pittsburgh cold-cheese pizzeria's beef with a real estate broker over the commission on what was almost a $2.1 million sale has cooled, with the parties telling a Pennsylvania state court they have settled the case.

  • September 27, 2024

    Miami Approves $12.5M Deal To End Little Havana Bar's Suit

    The city of Miami has agreed to pay $12.5 million to settle claims from the owners of several popular Little Havana businesses who alleged city officials repeatedly harassed them and deliberately crafted ordinances to destroy their business rights.

  • September 27, 2024

    Property Plays: Gencom, A. Walker & Co., Capital Square

    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.

  • September 27, 2024

    Ashford Says Reverse Stock Split Will Prevent NYSE Delisting

    Hotel owner Ashford Hospitality Trust Inc. said it will conduct a reverse stock split to avoid being removed from the New York Stock Exchange.

  • September 27, 2024

    REIT Seeks Receivership For Pot Biz Over $116M Defaults

    A real estate investment trust that lends to cannabis businesses accused a California grower and distributor of failing to pay off $116 million of loans and urged a state court to appoint a receiver to take control of the company.

  • September 27, 2024

    Seward & Kissel Adds Ex-A&O Shearman Counsel In NY

    Seward & Kissel LLP announced on Thursday the hiring of a former attorney at Allen Overy Shearman Sterling as special counsel in its real estate group out of New York.

  • September 27, 2024

    Adams Pleads Not Guilty As Atty Mocks Charges

    New York City Mayor Eric Adams pled not guilty to federal corruption charges Friday in a packed courtroom in Lower Manhattan, with his attorney deriding the indictment outside the courthouse as not "a real case" and vowing to file a motion to dismiss.

  • September 26, 2024

    Cannabis REIT Beats Investor Class Action For Good

    A New Jersey federal judge has allowed a cannabis-focused real estate investment trust and certain executives to permanently escape a proposed class action brought by the company's shareholders, finding the lawsuit failed to allege the defendants did not conduct proper due diligence on a major tenant accused of engaging in fraud.

  • September 26, 2024

    Round Up: Insurance Highlights At Climate Week NYC

    The value of insurer climate risk disclosures, strengthening infrastructure and communicating climate risks were among the top issues that insurance industry officials, elected officials, and regulators highlighted at this year's edition of Climate Week in New York City.

  • September 26, 2024

    Oil Co. Can Escape Most Claims In Shell Fraud Suit

    A federal judge trimmed most of the claims from a lawsuit brought by a group of Western Pennsylvania landowners who say a Royal Dutch Shell PLC subsidiary fraudulently sold off $9.5 billion of its assets to avoid the possibility of being subject to a judgment in a separate lawsuit.

  • September 26, 2024

    Healthcare REIT Defeats Investor Suit For Good

    An Alabama federal judge on Thursday permanently tossed an investor suit against a healthcare-focused real estate investment trust, Medical Properties Trust Inc., that alleged the trust hid the poor performance of four acute care hospitals it owns in Pennsylvania, saying the plaintiff's asserted theory in the suit "is somewhat Jekyll and Hyde."

  • September 26, 2024

    County, Deputy Exit Calif. Cannabis Raid Case For Now

    With a ruling Friday, a California county and a sheriff's deputy have escaped — for now — claims they unlawfully searched a man's home and seized 60 pounds of marijuana, but still pending are claims of excessive force by means of a bean bag round shot at the plaintiff.

  • September 26, 2024

    Pa. Supreme Court Upholds Taxes On Like-Kind Exchanges

    A group of Pennsylvania real estate partners owe the state personal income tax assessed on their like-kind exchange, Pennsylvania's highest court ruled Thursday, with the majority upholding a lower court finding that the state Department of Revenue correctly issued the assessment.

  • September 26, 2024

    Colo. Property Tax Deferral Program Could Balloon, Panel Told

    Use of a property tax deferral program in Colorado is expected to rise under a recent legislative change opening it to nearly all property owners, the state's treasurer told a legislative commission Thursday, calling the extent of the program's growth difficult to predict.

  • September 26, 2024

    Feds Send Message To Adams' City Hall: Buckle Up

    The seizure of another of New York City Mayor Eric Adams' phones ahead of his corruption indictment Thursday and a prosecutor's cryptic vow to "hold more people accountable" suggest the landmark case may only just be getting started, experts say.

  • September 26, 2024

    Few Investors Say They Factor ESG In Real Estate Strategies

    About a quarter of surveyed fund managers and investment professionals said they considered environmental, social and corporate governance standards in real estate investments, a smaller portion than those who factor ESG in private equity strategies, a new study found.

  • September 26, 2024

    Calif. Revives Tax Breaks For Manufacture Property

    California reinstated a capital investment incentive program that allows local governments to offer partial property tax abatements for qualified manufacturing facilities and expanded the program to include qualifying projects that make lower initial investments under a bill signed by Democratic Gov. Gavin Newsom.

  • September 26, 2024

    Law Firm Real Estate Report

    The start of autumn brings changing leaves and growing law firms as offices big and small increase their footprints through the country. BigLaw firms, midsize shops and boutiques across the country all found room to grow in September.

  • September 26, 2024

    Renewable Land Acquires Ohio Solar Farm Serving Amazon

    Real estate investment firm Renewable Land Advisers LLC said Sept. 26 that it has acquired a 435-acre property in Putnam County, Ohio, that's occupied by a 50-megawatt solar farm supplying Amazon with clean power.

  • September 26, 2024

    Meet The Quinn Emanuel Atty Defending NYC Mayor Adams

    Embattled New York City Mayor Eric Adams has tapped Quinn Emanuel Urquhart & Sullivan LLP partner Alex Spiro to defend him against campaign fraud and bribery charges, putting his fate in the hands of a hotshot attorney known for celebrity clients and courtroom miracles.

  • September 26, 2024

    NJ Atty Rips AG For 'Grossly Distorted' Power Broker Case

    A New Jersey attorney charged in the state's sweeping indictment against power broker George E. Norcross III accused the Attorney General's Office on Thursday of "attempting to criminalize the routine practice of law" with its charges against him.

  • September 26, 2024

    Firms Say Moving Has More Positive Impact Than Renovating

    Roughly 90% of law firms that recently relocated or renovated say the updated digs have been for the better regarding culture and "office energy," and such positive change has been most widely felt among firms that moved, according to a recent report from real estate brokerage firm Savills.

Expert Analysis

  • How New Rule Would Change CFIUS Enforcement Powers

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    Before the May 15 comment deadline, companies may want to weigh in on proposed regulatory changes to enforcement and mitigation tools at the disposal of the Committee on Foreign Investment in the United States, including broadened subpoena powers, difficult new mitigation timelines and higher maximum penalties, say attorneys at Venable.

  • Swimming Makes Me A Better Lawyer

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    Years of participation in swimming events, especially in the open water, have proven to be ideal preparation for appellate arguments in court — just as you must put your trust in the ocean when competing in a swim event, you must do the same with the judicial process, says John Kulewicz at Vorys.

  • 2nd Circ. Eminent Domain Ruling Empowers Municipalities

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    The Second Circuit's recent decision in Brinkmann v. Town of Southold, finding that a pretextual taking does not violate the Fifth Amendment's takings clause, gives municipalities a powerful tool with which to block unwanted development projects, even in bad faith, say James O'Connor and Benjamin Sugarman at Phillips Lytle.

  • SEC Should Be Allowed To Equip Investors With Climate Info

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    The U.S. Securities and Exchange Commission's new rule to require more climate-related disclosures will provide investors with much-needed clarity, despite opponents' attempts to challenge the rule with misused legal arguments, say Sarah Goetz at Democracy Forward and Cynthia Hanawalt at Columbia University’s Sabin Center for Climate Change.

  • How Cos. Can Comply With New PFAS Superfund Rule

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    The U.S. Environmental Protection Agency's new rule designating two per- and polyfluoroalkyl substances as "hazardous substances" under the Superfund law will likely trigger additional enforcement and litigation at sites across the country — so companies should evaluate any associated reporting obligations and liability risks, say attorneys at Alston & Bird.

  • How EB-5 Regional Centers Can Prepare For USCIS Audits

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    In response to the recently announced U.S. Citizenship and Immigration Services guidelines that require EB-5 regional center audits every five years to verify their compliance with immigration and securities laws, regional centers should take steps to facilitate a seamless audit process, say Jennifer Hermansky and Miriam Thompson at Greenberg Traurig.

  • Understanding The IRC's Excessive Refund Claim Penalty

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    Taxpayers considering protective refund claims pending resolution of major questions in tax cases like Moore v. U.S., which is pending before the U.S. Supreme Court, should understand how doing so may also leave them vulnerable to an excessive refund claim penalty under Internal Revenue Code Section 6676, say attorneys at McDermott.

  • Bankruptcy Ruling Shifts Lease Rejection Claim Calculation

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    A New York federal court’s recent ruling in In re: Cortlandt provides guidance on how to calculate a landlord's damages claim when a bankruptcy debtor rejects a lease, changing from an approach that considers the remaining rent due under the lease to one that considers the remaining time, say Bethany Simmons and Noah Weingarten at Loeb & Loeb.

  • Walking With My Dog Makes Me A Better Lawyer

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    Thanks to my dog Birdie, I've learned that carving out an activity different from the practice of law — like daily outdoor walks that allow you to interact with new people — can contribute to professional success by boosting creativity and mental acuity, as well as expanding your social network, says Sarah Petrie at the Massachusetts Attorney General’s Office.

  • What Calif. Eviction Ruling Means For Defaulting Borrowers

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    A California appellate court's recent decision in Homeward Opportunities v. Taptelis found that a defaulting borrower could not delay foreclosure with an improperly served notice of pendency of action, but leaves open a possibility for borrowers to delay eviction proceedings merely by filing lawsuits, say Anne Beehler and Krystal Anderson at Holland & Knight.

  • How 3D Printing And Prefab Are Changing Construction

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    The growing popularity of trends like 3D printing technology and prefabrication in the construction industry have positive ramifications ranging from reducing risks at project sites to streamlining construction schedules, say Josephine Bahn and Jeffery Mullen at Cozen O'Connor.

  • A Deep Dive Into High Court's Permit Fee Ruling

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    David Robinson and Daniel Golub at Holland & Knight explore the U.S. Supreme Court's recent ruling that a local traffic impact fee charged to a California property owner may be a Fifth Amendment taking — and where it leaves localities and real estate developers.

  • Being An Equestrian Makes Me A Better Lawyer

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    Beyond getting experience thinking on my feet and tackling stressful situations, the skills I've gained from horseback riding have considerable overlap with the skills used to practice law, particularly in terms of team building, continuing education, and making an effort to reset and recharge, says Kerry Irwin at Moore & Van Allen.