Residential
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January 22, 2025
J&J Seeks To Defeat $30M Punitive Bid After Conn. Talc Trial
Johnson & Johnson has blasted a bid requesting that it pay $30 million in punitive damages on top of a $15 million jury award to a real estate developer who allegedly contracted mesothelioma from the company's talc, telling a Connecticut state court that, "at most," it should pay $5 million.
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January 22, 2025
How A Lawyer Saved His Home Office From The Eaton Fire
Dozens of Los Angeles County lawyers shared stories with Law360 of how the L.A. fires impacted their offices and practices, and one attorney recounted how he saved his home office from the Eaton blaze.
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January 22, 2025
BNY, Mortgage Co. Sued Over Post-Bankruptcy Collections
Bank of New York Mellon and a mortgage servicing company face proposed class action claims that they unfairly sought to collect on second mortgages held by homeowners who declared bankruptcy amid the 2008 housing crisis.
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January 22, 2025
'The Hills' Reality Stars Latest To Sue Over Palisades Fire
"The Hills" reality TV show stars Spencer and Heidi Pratt are among the latest Palisades Fire victims to sue the Los Angeles Department of Water and Power alleging an empty local reservoir made it more difficult for first responders to put out the devastating blaze.
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January 22, 2025
NY Assembly Bill Would Double Threshold For Mansion Tax
New York would double the threshold at which properties incur an additional state 1% real estate transfer tax as part of a bill filed in the Assembly.
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January 22, 2025
The Evolution Of The Real Estate Legal Practice
Clients increasingly expect real estate attorneys not only to prepare the documents underpinning deals, but also to understand their companies inside and out. Clients want more from their lawyers than mere legal grunt work; they want strategic advisers who can draw from a knowledge base that expands beyond property law.
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January 22, 2025
Real Estate Group Of The Year: Kirkland
Real estate attorneys at Kirkland & Ellis LLP played a big role in data center deals last year, including a $3.4 billion joint venture between Blue Owl and Crusoe Energy Systems, and worked on several more notable transactions, landing their practice a spot among the 2024 Law360 Real Estate Groups of the Year.
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January 22, 2025
Construction Group Of The Year: Kaplan Kirsch
Kaplan Kirsch LLP guided a Denver transit authority's $150 million first-ever progressive design-build contract and the Chicago Transit Authority's historic $5.3 billion Red Line extension, earning its spot among the 2024 Law360 Construction Groups of the Year.
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January 22, 2025
Neumann's Flow Life Buys Miami Site For $70.5M In Court Sale
WeWork founder Adam Neumann's latest venture, a real estate company called Flow Life, bought a 16-acre Miami development site in a court-ordered sale for $70.5 million, or double an initial stalking horse bid for the property in October.
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January 22, 2025
Hawaii Floats Tax Credit For Some Insurers Of Condos
Hawaii would allow insurers that cover the full insurable value of a condominium to claim an insurance premium tax credit under a bill introduced in the state House of Representatives.
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January 22, 2025
4 California Construction Projects To Watch In 2025
A number of projects are underway in California, including a plan to build a new neighborhood in the San Francisco Bay Area on a former Navy base, a $5 billion "urban resort" in Beverly Hills and a university housing project in Berkeley that's moving ahead thanks to a court ruling and state law.
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January 22, 2025
Minn. Bill Seeks Cap On Property Value Increases
Minnesota would impose a 3% annual cap on the increase in the assessed market value of a residential property under legislation in the state Senate.
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January 21, 2025
Trump Order Targets Housing Costs But With Few Specifics
Housing affordability received a prominent mention in an executive order that President Donald Trump issued focused on tackling Americans' cost-of-living concerns, but how the new administration will address the issue and what that will mean for the housing market and broader real estate industry remains to be seen.
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January 21, 2025
Navy, Tetra Tech Strike $97M Deal Over Navy Cleanup Work
The U.S. Navy and a Tetra Tech unit have reached two settlements amounting to $97 million, resolving claims the subsidiary billed the Navy for radiation remediation services at a former Navy shipyard in San Francisco that it did not actually perform.
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January 21, 2025
SoCal Edison Must Hand Over Data In Eaton Fire Suit
A Los Angeles County judge ordered Southern California Edison Co. on Tuesday to produce data from its distribution circuits in the Altadena, California, neighborhood to a victim of the Eaton Fire, the first step in litigation over this month's deadly and destructive blaze.
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January 21, 2025
Realogy Signs $20M Deal In TCPA Cold Calling Class Action
Realogy and classes of individuals who allegedly received harassing phone calls from real estate agents in violation of federal telemarketing restrictions urged a California federal court to preliminarily bless their $20 million settlement, with Realogy saying Tuesday that the deal pays more than the classes' claims are worth.
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January 21, 2025
La. Judge Lifts Arbitration Order In $7M Ida Damage Case
A Louisiana federal judge lifted a stay and vacated an order to arbitrate a $7 million Hurricane Ida damage claim against domestic surplus insurers, ruling that a recent decision from Louisiana's top court represents an "'intervening change in the controlling law.'"
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January 21, 2025
Calif. AG Warns 200 Landlords, Hotels About Price Gouging
California Attorney General Rob Bonta has sent more than 200 warning letters to Southern California landlords and hotels accused of price gouging as fires ravaged communities in the Los Angeles area, according to an announcement made Friday.
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January 21, 2025
NYC Real Estate Week In Review
Fried Frank and Skadden are among the law firms that landed work on the largest New York City real estate deals that hit public records last week, with a $355 million Manhattan deal leading the way.
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January 21, 2025
Ariz. Gov. Seeks Extension Of Low-Income Housing Tax Credit
Arizona would extend its low-income housing tax credit for six years under the fiscal year 2026 budget proposal by Gov. Katie Hobbs.
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January 17, 2025
Law360 Names Practice Groups Of The Year
Law360 would like to congratulate the winners of its Practice Groups of the Year awards for 2024, which honor the attorney teams behind litigation wins and significant transaction work that resonated throughout the legal industry this past year.
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January 17, 2025
Law360 Names Firms Of The Year
Eight law firms have earned spots as Law360's Firms of the Year, with 54 Practice Group of the Year awards among them, steering some of the largest deals of 2024 and securing high-profile litigation wins, including at the U.S. Supreme Court.
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January 17, 2025
Feds Drop Bribery, Fraud Suit Against Ex-New York Lt. Gov.
Federal prosecutors on Friday dropped a bribery and fraud suit accusing former New York Lt. Gov. Brian Benjamin of using his position to obtain state grant funds in exchange for campaign contributions, noting the death of a New York real estate lawyer who pled guilty as a cooperating witness in 2022.
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January 17, 2025
Miami Beach Condo JV Lands $390M Construction Loan
The joint venture behind Miami Beach luxury condominium project The Perigon announced Friday that it closed on a $390 million construction loan, after beginning construction of the 73-unit development in 2024.
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January 17, 2025
Property Plays: Pretium, The Perigon, Stack Infrastructure
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.
NY Lawmakers Aim To Peel Back Landlord LLCs
A New York City real estate attorney says a bill that state legislators proposed last week to require landlords of rent-stabilized housing to reveal the ownership of their properties is written with an overbroad definition that would invite abuse.
Natural Disasters And Wildfires Reshape CRE Dealmaking
Natural disasters are already reshaping all aspects of commercial real estate dealmaking, attorneys say, and their importance is expected to grow considerably as a result of the ongoing Los Angeles wildfires.
Expert Sees Land Use, Building Codes As Key To LA Rebuild
Kimiko Barrett, senior wildfire policy analyst at nonpartisan research organization Headwaters Economics, told Law360 Real Estate Authority that because California has been a leader in crafting wildfire policy, the state's decision-makers are now venturing into new territory to assess the successes and failures of those innovative measures.
Expert Analysis
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Small Biz Caught In Corporate Transparency Act Crossfire
Despite compliance being put on hold due to a nationwide preliminary injunction, small businesses have been caught in the middle of the legal battle over the Corporate Transparency Act — and confusion over the law's requirements could result in major penalties, say attorneys at Snell & Wilmer.
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What's Ahead As Transparency Act Comes To A Crossroads
Synthesizing the contrasting federal district and appellate court rulings on the Corporate Transparency Act’s validity reveals several main areas of debate that will likely remain at issue as challenges to the law continue winding through the courts, say attorneys at Farella Braun.
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Ohio Banking Brief: All The Notable Legal Updates In Q4
Ohio's banking and financial services sector saw several significant developments in the fourth quarter of 2024, including a landmark Uniform Commercial Code ruling, adjustments to the state's Homebuyer Plus Program and the launch of the state's first women-led bank, says attorney Alex Durst.
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In The CFPB Playbook: A Sprint To The Finish Line
The fourth quarter of 2024 was an impressive demonstration of the Consumer Financial Protection Bureau's ability to regulate, enforce and supervise, even on borrowed time following the election results, and we should expect the current bureau to run nonstop until Jan. 20, say attorneys at Covington.
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The 6 Most Significant FCRA Litigation Developments Of 2024
From a key sovereign immunity decision at the U.S. Supreme Court to a ruling on creditworthiness out of the Seventh Circuit, several important Fair Credit Reporting Act cases wound their way through the courts in 2024, each offering takeaways for both plaintiffs and defendants, say attorneys at Shipkevich.
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10 Noteworthy CFPB Developments From 2024
In a banner year for consumer finance regulation, the Consumer Financial Protection Bureau made significant strides in its efforts to rein in Big Tech and nonbank financial firms, including via rules regarding open banking, credit card late fees, and buy now, pay later products, say attorneys at Wiley.
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The Story Of 2024's Biggest Bank Regs, And Their Fate In 2025
U.S. federal bank regulators were very active in 2024 with initiatives ranging from antitrust and capital to proposals regarding controlling shareholders and incentive-based compensation, but many regulations face an uncertain future under the new administration, say attorneys at Latham.
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Conducting A 'Reasonably Expected Market Area' Analysis
Regardless of whether the incoming administration scales back on redlining examinations and investigations, lenders should take steps to understand how regulators define "reasonably expected market areas," and how to conduct analyses of such areas, say attorneys at Mitchell Sandler.
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Adapting Force Majeure To A Predictably Unpredictable World
As the climate and political landscapes get more complicated, force majeure provisions will likely be triggered increasingly often, demanding an evolving understanding of when events and their impacts are truly unforeseeable, say attorneys at Nossaman.
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Impact Of Corporate Transparency Act Ambiguity On Banks
Even though banks generally needn't file beneficial ownership information reports, financial institutions must continue to monitor the status of the Corporate Transparency Act and understand its requirements in case the nationwide injunction that was issued against the CTA earlier this month is overturned, say attorneys at Armstrong Teasdale.
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Strategies For Home Equity Investment Providers In 2025
The home equity investment product market is thriving even amid consumer concerns, regulatory scrutiny and conflicting court decisions, setting the stage for a promising but challenging environment for providers in 2025, say attorneys at Sheppard Mullin.
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What Interest Rate Cuts Mean For Housing Markets
The Federal Reserve's recent reduction of interest rates may provide limited immediate relief for real estate sectors, but offers potential opportunities for commercial real estate investors and construction firms, which now face an environment ripe for new projects, say attorneys at Cozen O'Connor.
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California Supreme Court's Year In Review
Attorneys at Horvitz & Levy highlight notable decisions on major questions from the California Supreme Court's last term, including voter initiatives, hostile work environment and the economic loss rule.