Residential

  • June 24, 2024

    REIT Hits Back At Board Takeover Bid Following Ponzi Case

    Texas-based United Development Funding urged shareholders on Monday to ignore a bid for control from an activist investor that nominated a slate of board candidates to run the real estate investment trust, which was previously used as a vessel for a Ponzi scheme by its former executives.

  • June 24, 2024

    Washington Federal Bank Sells $2.8B CRE Loan Porfolio

    Washington Federal Bank announced Monday it has completed the sale of about $2.8 billion in multifamily commercial real estate loans that are set to be purchased by Pacific Investment Management Company LLC.

  • June 24, 2024

    Landlord Says Insurer Botched Coverage For $1M State Deal

    A Colorado landlord is accusing an insurance broker and carrier of secretly adding an endorsement to its policy to bar coverage for a $1 million settlement the landlord entered into to resolve a state investigation over alleged misuse of tenant funds.

  • June 24, 2024

    NM Sued Over Sustainable Building Credit Award Process

    A New Mexico apartment complex alleges that the state violated its due process rights after it was denied sustainable building tax credits for most of its units, according to a complaint filed in federal court.

  • June 24, 2024

    Mass. Tax Board Won't Trim Home Value Over Area Conditions

    A Massachusetts homeowner's testimony of the poor condition of nearby properties was insufficient to lower his home's assessed value, a state tax panel said in a decision released Monday, upholding the value found by a local assessor.

  • June 21, 2024

    After Surfside Collapse, Safety Reform And A 'Condo Crisis'

    In the three years since 98 lives were lost in the partial collapse of the Champlain Towers South condominium in Surfside, Florida, several states have worked on legislation to address building safety. But their efforts to back the pledge of "never again" are stirring up concerns that they are fostering a whole new quandary for millions of condo owners.

  • June 21, 2024

    Financial Advice Guru Says Timeshare Suit Must Be Arbitrated

    A famous financial advice guru and his company have urged a Washington federal court to pause a proposed timeshare exit fraud class action and send it into arbitration, arguing that several of the named plaintiffs signed related agreements that include arbitration clauses.

  • June 21, 2024

    Dissent Is Symbolic Win For NY Garden Fighting Housing Plan

    Despite a loss at New York's top court, counsel for a Manhattan neighborhood garden challenging a senior housing development plan said one judge's 24-page dissent is one "for the history books."

  • June 21, 2024

    Property Plays: The Mark Hotel, Oak Row, Bain Capital

    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.

  • June 21, 2024

    Vt. Lawmakers Override Veto Of Short-Term Rental Surcharge

    Vermont legislators overrode the governor's veto of legislation that imposes a 3% surcharge on short-term rentals.

  • June 21, 2024

    DOJ Backs Antitrust Case Against Zillow, Realtors At 9th Circ.

    The U.S. Department of Justice has urged the Ninth Circuit to revive antitrust claims from a defunct brokerage platform against Zillow and the National Association of Realtors based on design changes Zillow made to comply with association rules.

  • June 21, 2024

    King & Spalding Guides $320M Brooklyn Construction Loan

    King & Spalding advised a $321 million construction loan from Texas-based Bank OZK for a three-tower residential complex developer Naftali Group is building at a site on the East River in South Williamsburg, Brooklyn.

  • June 21, 2024

    Recovery Home Co. Sues Over Denial By Town's Zoning Panel

    A New Jersey township's zoning board has been accused in New Jersey federal court of discriminating against recovering drug addicts and alcoholics by refusing to allow a recovery home to continue to operate in a residential area.

  • June 21, 2024

    Ohio House Bill Would Tax Car Condos As Residential Parcels

    Ohio would classify car condominiums as residential property for property tax purposes under a bill introduced in the state House of Representatives.

  • June 21, 2024

    Multifamily Strength In Q1 Contrasts Cooling CRE Valuations

    The first quarter of 2024 saw a significant jump in the performance of apartment properties, a divergence from the slumping valuations broadly seen in commercial real estate during this challenging period for the industry, according to investment firm Gray Capital.

  • June 21, 2024

    Housing Starts, Completions, Permits See Decline In May

    Housing starts, building permits and housing completions all fell in May, according to monthly figures from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.

  • June 20, 2024

    Wash. Justices Renew AG's Suit Over Police Eviction Claims

    Washington's highest court said the state attorney general could sue a city for allegedly letting police illegally evict vulnerable residents under the guise of a crime prevention program, ruling Thursday the case involved issues of public concern such as protecting residents' civil rights and preventing police misconduct.

  • June 20, 2024

    NY High Court Nixes Waiver of Rent Regs Appeal Rights

    New York's highest court on July 20 invalidated a deal reached in 2000 between landlord Lew Realty LLC and a former tenant that governed a Manhattan apartment's exit from rent stabilization, after finding that the agreement improperly required the resident to waive a key protection.

  • June 20, 2024

    Ohio Landlord Settles DOJ's Sexual Harassment Suit

    A Youngstown, Ohio, landlord and a property management company settled a sexual harassment suit filed by the U.S. Department of Justice, which had claimed the landlord repeatedly sexually harassed his female tenants while working for the management company.

  • June 20, 2024

    JP Morgan Borrows $165M To Refinance Chelsea Tower

    An entity connected to JP Morgan Investment Management Inc. borrowed $165 million from The Northwestern Mutual Life Insurance Co. in order to refinance a 39-story, 387-unit residential tower in Manhattan's Chelsea neighborhood, according to official property records.

  • June 20, 2024

    Housing Crisis Needs 'Silver Buckshot' Policies, Panel Says

    It will take more than a silver bullet to confront a chronic undersupply of housing in the U.S. that's only made shelter less affordable since the pandemic, a panel of experts said June 20.

  • June 20, 2024

    Fla. Property Owner, Insurer Settle $1.2M Ian Coverage Fight

    A QBE Insurance unit and a property owner settled their coverage dispute over the owner's claims it suffered roughly $1.2 million in losses due to Hurricane Ian, the parties told a Florida federal court.

  • June 20, 2024

    Ex-McElroy Deutsch CFO Asks To Pull 5th Amend. Assertions

    McElroy Deutsch Mulvaney & Carpenter LLC's former chief financial officer, who pled guilty to embezzling over $1.5 million from the firm in May, moved Wednesday to withdraw Fifth Amendment assertions he made in the firm's civil case against him.

  • June 20, 2024

    Landlord Group Vows To Challenge NY Town's Rent Regs Vote

    The common council of Poughkeepsie, New York, has unanimously voted to declare a housing emergency and adopt rent stabilization citywide, prompting the Hudson Valley Property Owners Association's immediate promise to file suit.

  • June 20, 2024

    Cadwalader Guides $450M Refi Deal For NYC Properties

    Cadwalader Wickersham & Taft LLP advised a $450 million refinancing transaction for multiple apartment buildings located in New York City's Long Island City neighborhood in the borough of Queens, according to official property records.

Expert Analysis

  • 2nd Circ. Ruling Clarifies When Demand Letters Are Claims

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    The Second Circuit’s decision last week in Pine Management v. Colony Insurance, affirming that an insurer had no obligation to defend an insured for claims made before the policy period, provides clarity on when presuit demands for relief constitute claims — an important issue that may be dispositive of coverage, says Bonnie Thompson at Lavin Rindner.

  • Serving As A Sheriff's Deputy Made Me A Better Lawyer

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    Skills developed during my work as a reserve deputy — where there was a need to always be prepared, decisive and articulate — transferred to my practice as an intellectual property litigator, and my experience taught me that clients often appreciate and relate to the desire to participate in extracurricular activities, says Michael Friedland at Friedland Cianfrani.

  • Preparing For Possible Calif. Criminal Antitrust Enforcement

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    Though a recent announcement that the California Attorney General's Office will resume criminal prosecutions in support of its antitrust enforcement may be mere saber-rattling, companies and their counsel should nevertheless be prepared for interactions with the California AG's Antitrust Section that are not limited to civil liability issues, say Dylan Ballard and Lillian Sun at V&E.

  • Conn. Loan Law Tweaks May Have 3 Major Effects On Lenders

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    Recently proposed minor amendments to Connecticut’s consumer protection laws could nonetheless mean major and unexpected changes to state consumer financial services regulations that dictate how lenders and their customer-facing service providers handle fee payments, mortgage servicer licensing and private student loans, says Jonathan Joshua at Joshua Law Firm.

  • Document Retention Best Practices To Lower Litigation Risks

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    As new technologies emerge and terabytes of data can be within the purview of a single discovery request, businesses small and large should take four document management steps to effectively minimize risks of litigation and discovery sanctions long before litigation ensues, says Kimbrilee Weber at Norris McLaughlin.

  • Riding My Peloton Bike Makes Me A Better Lawyer

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    Using the Peloton platform for cycling, running, rowing and more taught me that fostering a mind-body connection will not only benefit you physically and emotionally, but also inspire stamina, focus, discipline and empathy in your legal career, says Christopher Ward at Polsinelli.

  • The Challenges SEC's Climate Disclosure Rule May Face

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    Attorneys at Debevoise examine potential legal challenges to the U.S. Securities and Exchange Commission's new climate-related disclosure rule — against which nine suits have already been filed — including arguments under the Administrative Procedure Act, the major questions doctrine, the First Amendment and the nondelegation doctrine.

  • Class Actions At The Circuit Courts: March Lessons

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    In this month's review of class action appeals, Mitchell Engel at Shook Hardy discusses four notable circuit court decisions on topics from consumer fraud to employment — and provides key takeaways for counsel on issues including coercive communications with putative class members and Article III standing at the class certification stage.

  • Spartan Arbitration Tactics Against Well-Funded Opponents

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    Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.

  • How FinCEN Proposal Expands RE Transaction Obligations

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    Against a regulatory backdrop foreshadowing anti-money laundering efforts in the real estate sector, the Financial Crimes Enforcement Network's proposed rule significantly expands reporting requirements for certain nonfinanced residential real estate transfers and necessitates careful review, say attorneys at Fried Frank.

  • How Calif. Video Recording Ruling May Affect Insured Exams

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    A recent California appellate decision, Myasnyankin v. Nationwide, allowing policyholders to video record all parties to an insurance examination under oath, has changed the rules of the road for EUOs and potentially opened Pandora's box for future disputes, say John Edson and Preston Bennett at Sheppard Mullin.

  • Unpacking FinCEN's Proposed Real Estate Transaction Rule

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    Phil Jelsma and Ulrick Matsunaga at Crosbie Gliner take a close look at the Financial Crimes Enforcement Network's recently proposed rulemaking — which mandates new disclosures for professionals involved in all-cash real estate deals — and discuss best next steps for the broad range of businesses that could be affected.

  • Texas Insurance Ruling Could Restore Finality To Appraisal

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    The Texas Supreme Court's decision in Rodriguez v. Safeco, determining that full payment of an appraisal award precludes recovery of attorney fees, indicates a potential return to an era in which timely payment undoubtedly disposes of all possible policyholder claims, says Karl Schulz at Cozen O'Connor.