Commercial

  • April 01, 2025

    Uneven NYC Office Leasing Sees Midtown Trophy Spike

    The 12.2 million square feet of leasing activity in the Manhattan office sector in the first quarter of 2025 was heavily concentrated among trophy and Class A+ assets in the midtown submarket, according to a Tuesday report from Savills.

  • April 01, 2025

    Ariz. Developer, Son Charged In $280M Sports Park Fraud

    An Arizona developer and his son tricked bondholders into investing $280 million in a Phoenix-area youth sports park by falsely promising "100% occupancy prior to breaking ground" in part via the use of forged documents, federal prosecutors in Manhattan charged Tuesday.

  • April 01, 2025

    Idaho Boosts Property Tax Breaks By $100M

    Idaho will increase tax breaks for property owners in the state starting this year and every year thereafter under a bill signed by the governor.

  • March 31, 2025

    Insurer Off The Hook For Tribe's COVID Casino Shutdown

    Lexington Insurance Co. does not owe a Washington tribe business-loss coverage after COVID-19 forced the shutdown of the tribe's casino, a Washington state appeals court said Monday, ruling that the virus did not cause direct physical loss or damage to tribal properties.

  • March 31, 2025

    Tax Court Nixes $26M Easement Deduction Over Quarry Value

    The U.S. Tax Court rejected Monday a partnership's nearly $26 million conservation easement deduction tied to a 110-acre farmland in Alabama, stating the partnership had failed to prove that its hypothetical limestone quarry in the property had skyrocketed the easement's value.

  • March 31, 2025

    DOI Rescinds Gaming Eligibility In $700M Calif. Casino Project

    The Department of the Interior has temporarily suspended a gaming eligibility determination for a California tribe's $700 million casino and gaming resort project, saying Secretary Doug Burgum is concerned that the agency didn't consider additional evidence regarding the 160-acre parcel's restored lands exception.

  • March 31, 2025

    Catalyst Closes $164M Sale Of Outdoor Storage Portfolios

    Catalyst Investment Partners sold two outdoor storage portfolios with a total of 18 properties for $163.5 million, the industrial outdoor storage owner and operator announced Monday.

  • March 31, 2025

    NYC Fights Group's Claim Of Biased Property Tax System

    An organization that says New York City's property tax regime discriminates against minorities can't proceed with its claim, the city told the state appellate court, saying that further discovery or trial is needed.

  • March 31, 2025

    Gibson Dunn Pilots Hudson Pacific's $475M Office Financing

    Hudson Pacific Properties, advised by Gibson Dunn & Crutcher LLP, obtained a $475 million commercial mortgage-backed securities loan backed by a portfolio of six office buildings on the West Coast, the company said Monday.

  • March 31, 2025

    Denver Defeats Landlord's Challenge To Energy Standards

    A Colorado federal judge tossed a suit challenging state and Denver laws that set target dates for certain properties to reduce their greenhouse gas emissions, saying the trade groups that brought the claims lacked standing.

  • March 31, 2025

    NYC Real Estate Week In Review

    Goldberg Weprin and Hirschen Singer are among the law firms that scored work on the largest New York City real estate deals that hit public records last week, a slow period that saw only two deals above the $15 million mark become public.

  • March 31, 2025

    Wachtell, S&C Build Mechanics Bank, HomeStreet Merger

    Wachtell Lipton Rosen & Katz LLP-advised Mechanics Bank on Monday announced plans to merge with Sullivan & Cromwell LLP-led HomeStreet Bank in a deal that will create a combined company with 168 branches and $23 billion in assets.

  • March 31, 2025

    Utah Requires Min. Property Tax Rate Consensus Certification

    Utah will require a minimum property tax rate imposed by school districts to be certified by the state's tax commission, the governor's Office of Planning and Budget and the state Legislature's Office of the Legislative Fiscal Analyst under a bill signed by the governor.

  • March 31, 2025

    Eric Adams Urges Speedy Dismissal As NYC Primaries Loom

    New York City Mayor Eric Adams on Monday urged a Manhattan federal judge to promptly throw out his bribery and corruption charges, pointing to an upcoming mayoral election filing deadline and the court's previous vows to rule quickly.

  • March 28, 2025

    Property Plays: GSA, JP Morgan REIT, Related

    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.

  • March 28, 2025

    Minors Sue Over Alleged Trafficking At Metro-Atlanta Hotels

    Two unidentified minors have filed separate suits in federal court alleging the owners and operators of two Atlanta area hotels knew the minors were being sex trafficked but did nothing to stop it.

  • March 28, 2025

    NY Ski Resort Co. Appealing Court's Antitrust Ruling

    A New York ski resort operator told a state court on Friday that it's appealing the state's victory in its antitrust suit, which alleged that the operator purposefully closed a local competitor after acquiring it.

  • March 28, 2025

    Judge Ends $400M Air Force Base PFAS Contamination Case

    A Court of Federal Claims judge has dismissed a $400 million lawsuit from New Mexico landowners alleging that PFAS runoff from a nearby U.S. Air Force base contaminated their land, saying they hadn't shown any taking by the government.

  • March 28, 2025

    9th Circ. Affirms Maui County's Win In Religious Land-Use Suit

    The Ninth Circuit is backing a Hawaii county's jury trial victory over a nonprofit's Religious Land Use and Institutionalized Persons Act lawsuit, ruling on Friday that the lower court rightfully sided with the county even though it erred by including a certain jury instruction.

  • March 28, 2025

    Masonry Exec Charged In Plot To Bribe Amtrak Official

    The president of an Illinois-based masonry contractor awarded a $58 million federal contract to renovate Philadelphia's historic 30th Street Station has been charged with conspiring to bribe an Amtrak official, the U.S. attorney's office in the city said Friday.

  • March 28, 2025

    Property Owners Sue NYC Over Sidewalk Shed Legislation

    A group of New York City property owners hit the city with a proposed class action alleging sidewalk shed regulations amount to an unconstitutional taking, one day after the city council approved a package of bills aiming to reform the policies.

  • March 28, 2025

    NYC Margaritaville Ch. 11 Plan OK'd After Buffett Hit Played

    A New York bankruptcy judge on Friday confirmed the Chapter 11 plan of the developer of the Margaritaville resort in Times Square, as he played the resort's namesake song during a hearing.

  • March 28, 2025

    Shutts & Bowen Accused Of Sinking Florida Country Club Sale

    A real estate corporation is suing Florida firm Shutts & Bowen LLP and one of its partners for malpractice, alleging that as part of a fee dispute, they scuttled a deal for the sale of a country club that the business had been negotiating.

  • March 28, 2025

    Calif. Tenants Claim REIT Charged Extra For Pests, Trash

    A proposed class of California tenants accused real estate investment trust Equity Residential and two of its subsidiaries of unlawfully charging them separate fees for pest control and trash collection.

  • March 28, 2025

    Rockwood Buys $153M DC Office Building From Brookfield

    Rockwood Capital has scooped up a nine-story office building in Washington, D.C., from Brookfield Properties for $153 million and secured $113.4 million in financing for the deal through a German bank, with help from King & Spalding LLP, property records show.

Expert Analysis

  • Bid Protest Spotlight: Debriefings, Timeliness, Documentation

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    ​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.

  • A Look At Recent Case Law On Expedited Judgment In NY

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    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.

  • Dealmaker Lessons From CFIUS' New Enforcement Webpage

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    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.

  • Reassessing Lease Provisions To Account For ESG Initiatives

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    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.

  • Avoid Getting Burned By Agencies' Solar Financing Spotlight

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    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.

  • Co-Tenancy Clause Pointers For Shopping Center Landlords

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    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.

  • Assessing Algorithmic Versus Generative AI Pricing Tools

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    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.

  • Navigating A Potpourri Of Possible Transparency Act Pitfalls

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    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.

  • Keys To Successful Commercial Property Insurance Claims

    Excerpt from Practical Guidance
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    While insurance needs for commercial leasing arrangements are driven by the characteristics of the premises and the nature of the tenants' intended operations, there are several universal best practices landlords and their counsel can follow when making claims after loss or damage.

  • Tips For Handling Single Asset Real Estate Bankruptcy Cases

    Excerpt from Practical Guidance
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    Bankruptcy counsel should consider several strategies when representing either a debtor or lender in single asset real estate debtor Chapter 11 cases, which generally arise when a debtor is forced to file for relief to stop an impending foreclosure sale.

  • Increased Scrutiny Raises Int'l Real Estate Transaction Risks

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    Recently proposed regulations expanding the Committee on Foreign Investment in the United States' oversight, a White House divestment order and state-level legislative efforts signal increasing scrutiny of real estate transactions that may trigger national security concerns, say Luciano Racco and Aleksis Fernández Caballero at Foley Hoag.

  • Portland's Gross Receipts Tax Oversteps City's Authority

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    Recent measures by Portland, Oregon, that expand the voter-approved scope of the Clean Energy Surcharge on certain retail sales eviscerate the common meaning of the word "retail" and exceed the city's chartered authority to levy tax, say Nikki Dobay at Greenberg Traurig and Jeff Newgard at Peak Policy.

  • Proposed Law Would Harm NYC Hospitality Industry

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    A recently proposed New York City Law that would update hotel licensing and staff coverage requirements could give the city commissioner and unions undue control over the city's hospitality industry, and harm smaller hotels that cannot afford full-time employees, says Stuart Saft at Holland & Knight.