Commercial
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March 17, 2025
Brookfield Offloads Steeply Discounted NYC Office For $150M
Brookfield Properties took a significant hit on the sale of a Manhattan office building, with county property records showing Monday that it sold 333 W. 34th St. for $150 million after purchasing the midtown building for $255 million.
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March 17, 2025
Fraud Victims Claim CRE Fintech Firm Skirted Securities Law
A group of investors pointed to a recent fraud case in seeking to claw back more than $1 billion raised by fintech firm CrowdStreet, claiming in a proposed class action filed in Texas federal court that the platform operated outside state and federal financial regulations for a decade.
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March 17, 2025
Paul Hastings Guides Artemis From Founding To Takeover
When Paul Hastings partner Joshua H. Sternoff was initially pitched on repping Debbie Harmon and Penny Pritzker in creating the first women-owned real estate investment business, he thought it was a bet worth taking. About 16 years and several fundraising cycles later, Sternoff and others at Paul Hastings steered Artemis Real Estate Partners through what might be its biggest move yet.
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March 17, 2025
Burr & Forman Vet Sees Bright Spot For Office Amid Clouds
Burr & Forman LLP partner Brad Skidmore talks to Law360 Real Estate Authority about why he expects growth for the office real estate market despite a recent atmosphere of gloom and doom over the sector.
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March 17, 2025
Belkin Burden Hires Tax Exemption, Zoning Experts
Belkin Burden & Goldman LLP announced Monday it has added five new attorneys from Seiden & Schein PC who will form the firm's new tax exemptions and zoning incentives department.
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March 17, 2025
NYC Real Estate Week In Review
DLA Piper and Klestadt Winters are among the law firms that landed work on the top New York City real estate deals to hit public records last week, with a pair of Manhattan trades topping the list.
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March 17, 2025
DC Commercial Property Taxable Values Drop Nearly 8%
Commercial property values in Washington, D.C., dropped 7.87% in their 2025 assessments compared with a year earlier, the district's tax office said.
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March 14, 2025
Judge Hands Landlord Win In Maryland Nurse's Eviction Case
A Maryland federal judge mostly sided with a landlord that was hit with a nurse practitioner's $1 million suit, which alleged that the landlord wrongfully locked her out of her place of business when she wasn't there and evicted her.
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March 14, 2025
Calif. Insurance Chief OKs State Farm Rates Pending Hearing
The California Department of Insurance on Friday provisionally approved State Farm's request for an emergency rate hike following the Los Angeles fires, including a nearly 22% increase for homeowners, saying final approval will be contingent on the insurer justifying its request at a hearing.
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March 14, 2025
Property Plays: Buffalo, Swerdlow Group, Tampa Bay Rays
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.
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March 14, 2025
Demand Tightens Florida Land Market In '24, Broker Finds
Large-acreage land transactions and institutional investors drove much of the activity in Florida's land market in 2024, with agricultural land transforming into residential, solar or other development as the state's population grows.
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March 14, 2025
Calif. Tribe Looks To Defend Casino Land Trust Decision
A California tribe at the crux of an Interior Department decision to take 221 acres of trust land for the construction of its casino development wants to intervene in a challenge to the order, saying it and the federal agency have different goals in dismissing the dispute.
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March 14, 2025
Under The Radar: Bankruptcy News You May Have Missed
Avon's international unit asked a bankruptcy judge to extend the window during which only it can propose a Chapter 11 plan, consulting firm Azzur Group Holdings asked the Delaware bankruptcy court to approve its Chapter 11 plan disclosures and allow it to hold a vote, and Philadelphia's University of the Arts proposed selling a property for nearly $7 million. These are some of the bankruptcy stories you may have missed in the last week.
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March 14, 2025
Related Ross Begins Fla. Commercial Office Towers Project
Related Ross has started construction on two Class AA commercial office towers that will take up almost 1 million square feet combined in downtown West Palm Beach, Florida, the developer announced.
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March 14, 2025
3 Firms Rep Franklin BSP Realty Trust's $425M NewPoint Buy
Hogan Lovells, Reed Smith and Paul Weiss guided Franklin BSP Realty Trust's $425 million acquisition of commercial real estate finance company NewPoint Holdings JV LLC, boosting the REIT's multifamily loan offerings.
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March 14, 2025
King & Spalding Real Estate Ace Jumps To Benesch In NY
Benesch Friedlander Coplan & Aronoff LLP has added commercial real estate attorney David Hudson from King & Spalding LLP as part of efforts to expand the firm's New York bench.
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March 14, 2025
Washington Dept. OKs Property Conversion Tax Break Regs
Washington state's Department of Revenue adopted regulations to clarify eligibility requirements for a retail sales and use tax break for the conversion of commercial property to affordable housing authorized by a 2024 law, according to a rulemaking order.
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March 13, 2025
Tampa Bay Rays Halt Plans For New $1.3B MLB Stadium
Major League Baseball's Tampa Bay Rays announced Thursday that it will stop developing a $1.3 billion stadium that's connected to a larger $6.5 billion redevelopment plan for the Historic Gas Plant District in St. Petersburg, Florida.
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March 13, 2025
Ore. Tribes Challenge Utility's Eminent Domain Bid
An Oregon Indigenous community is fighting a bid by Portland General Electric Co. to condemn five acres of public land for the maintenance and operation of its hydroelectric project, arguing that the move is a pretext to eliminate its ceremonial fishing platform at the state's largest waterfalls.
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March 13, 2025
Founder Wants $14.7M In Logistics Developer SPAC Dispute
The founder of a Latin America-based logistics property developer told a Florida federal court that he is owed at least $14.7 million as part of a 2024 special purpose acquisition company merger.
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March 13, 2025
Smith Currie Hires Veteran Construction Atty To Fla. Office
Smith Currie Oles LLP has hired a former Siegfried Rivera construction litigation attorney as partner in the firm's Fort Lauderdale, Florida, office, the firm announced Wednesday.
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March 13, 2025
Fla. City Will Pay $21M To End Co.'s Road Construction Suit
The mayor of Doral, Florida, and its city council have approved a $21 million settlement with a property owner, an entity that sought more than $30 million in damages alleging the city trespassed on its property and damaged it with a destructive road construction project.
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March 13, 2025
Builder Says Conn. Hilton Owner Owes $6M For $63M Project
A building contractor is taking the owner of a new Home2 Suites by Hilton hotel in Bristol, Connecticut, to court, claiming that what started as a $13 million project ballooned into a $63.4 million series of redesigns and changes in scope for which the hotel owner still owes $6 million.
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March 12, 2025
NYC Beefs Up Inspections After Bronx Building Collapse
A New York City Department of Buildings enforcement official said Wednesday that the agency is proactively targeting known bad actors and companies associated with them following a November 2023 major structural collapse at a multifamily property in the Bronx.
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March 12, 2025
Real Estate Companies Scrub DEI From Public Filings
Many real estate companies that previously disclosed their efforts to further diversity, equity and inclusion have avoided any mention of the topic in their latest financial disclosures, as the political winds have shifted against such initiatives.
Expert Analysis
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Navigating FEMA Grant Program For Slope Fixes After Storms
In the aftermath of Hurricanes Helene and Milton, it is critical for governments, businesses and individuals to understand the legal requirements of the Federal Emergency Management Agency's grant programs to obtain funding for crucial repairs — including restoration of damaged infrastructure caused by landslides and slope failures, says Charles Schexnaildre at Baker Donelson.
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Smith's New Trump Indictment Is Case Study In Superseding
Special counsel Jack Smith’s recently revised Jan. 6 charges against former President Donald Trump provide lessons for prosecutors on how to effectively draft superseding indictments in order to buttress or streamline their case, as necessary, says Jessica Roth at Cardozo Law School.
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Consider Best Legal Practices For Commissioning Public Art
Commissioning public art for real estate projects can provide many benefits to real estate developers and the public, but it's important to understand the unique legal and contracting aspects of the process to ensure that projects are completed on time and on budget, says Sarah Conley Odenkirk at ArtConverge.
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Applying High Court's Domestic Corruption Rulings To FCPA
After the U.S. Supreme Court narrowed the domestic corruption statutes in three decisions over the past year and a half, it’s worth evaluating whether these rulings may have an impact on Foreign Corrupt Practices Act enforcement, and if attorneys can use the court’s reasoning in international bribery cases, says James Koukios at MoFo.
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Climate Among Many Factors Driving Up RE Insurance Costs
A proactive approach to risk management may determine the viability of the U.S. commercial real estate sector as weather crises and other factors drive insurance costs higher, says Ulrick Matsunaga at Crosbie Gliner.
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Bid Protest Spotlight: Debriefings, Timeliness, Documentation
James Tucker at MoFo examines three recent decisions from the Federal Circuit, the U.S. Government Accountability Office and the U.S. Court of Federal Claims concerning an agency's decision not to hold post-award discussions, a timeliness trap in certain Federal Supply Schedule procurements and the importance of providing contemporaneous documentation in price-evaluation protests.
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A Look At Recent Case Law On Expedited Judgment In NY
A number of recent New York state court decisions clarify and refine the contours surrounding Civil Practice Law and Rule 3213, providing landlords, lenders and other payees guidance on how to seek accelerated judgment in certain litigation, says Alexander Lycoyannis at Holland & Knight.
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Dealmaker Lessons From CFIUS' New Enforcement Webpage
The Committee on Foreign Investment in the United States’ recently launched webpage, which details the actions — and inactions — that led to enforcement activity, provides important insights for dealmakers about filing requirements, mitigation commitments and the cost of noncompliance, say attorneys at Dechert.
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Reassessing Lease Provisions To Account For ESG Initiatives
As companies seek to build ESG considerations into their businesses, it's crucial to understand how such initiatives can quickly become significant enough to compel reassessment of lease agreement provisions, and how best to modify leases accordingly, say Julian Freeman and Gabe Pitassi at Cox Castle.
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Avoid Getting Burned By Agencies' Solar Financing Spotlight
Recently coordinated reports and advisories from the U.S. Department of the Treasury, the Consumer Financial Protection Bureau and the Federal Trade Commission maximize the spotlight on the consumer solar financing market and highlight pitfalls for lenders to avoid in this burgeoning field, says Mercedes Tunstall at Cadwalader.
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Co-Tenancy Clause Pointers For Shopping Center Landlords
Large retail tenants often require co-tenancy provisions in their leases, entitling them to remedies if a shopping center's occupancy drops in certain ways, but landlords must draft these provisions carefully to avoid giving tenants too much control, says Gary Glick at Cox Castle.
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Assessing Algorithmic Versus Generative AI Pricing Tools
A comparison of traditional algorithmic pricing models and those powered by generative artificial intelligence can help regulators and practitioners weigh the pros and cons of relying on large language models to price products or services, say Maxime Cohen at McGill University, and Tim Spittle and Jimmy Royer at Analysis Group.
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Navigating A Potpourri Of Possible Transparency Act Pitfalls
Despite the Financial Crimes Enforcement Network's continued release of guidance for complying with the Corporate Transparency Act, its interpretation remains in flux, making it important for companies to understand potentially problematic areas of ambiguity in the practical application of the law, say attorneys at Sidley.