Residential

  • May 22, 2024

    NY High Court Tosses Suit Over Howard Hughes NYC Tower

    The New York Court of Appeals has rejected an appeal filed by a New York City-based group challenging the NYC Landmarks Preservation Commission's decision to approve a certificate that will allow the construction of a 27-story, 400-unit, mixed-use tower project in downtown Manhattan's South Street Seaport Historic District.

  • May 22, 2024

    Developer Had No Duty To Verify Flood Model, Court Hears

    A Houston-area developer indicated before a state appeals court Wednesday that the consequences of entering a judgment in favor of more than 400 homeowners whose properties flooded during Hurricane Harvey would be catastrophic, as their claims boil down to the developer's alleged failure to double-check modeling conducted by an outside consultant.

  • May 22, 2024

    FDIC Eyes 'Weak' Office, Mall Assets In Risk Assessment

    The Federal Deposit Insurance Corp. deemed office and retail mall asset classes 2023's "weak" points among the otherwise resilient commercial real estate property types, in a Wednesday report summarizing risks facing FDIC-insured institutions.

  • May 22, 2024

    NY Landlords Map Muddled Path To High Court Rent Battle

    Landlords are charting another path toward the U.S. Supreme Court in their effort to undermine New York's rent stabilization laws, following Justice Clarence Thomas' earlier opinion as a North Star, but attorneys say the approach may be little more than an exercise in reading tea leaves.

  • May 22, 2024

    NAR Says Home Sale Prices Rose In April With Drop In Sales

    The median sale price of homes grew 5.7% to $407,600 in April, the highest price ever for that month and the 10th straight month in which an increase was seen, according to a National Association of Realtors report released Wednesday.

  • May 22, 2024

    Texas Billionaires Building $7B City After Finding Aquifer

    The wealthy Walker family will put down $1.6 billion in cash over the next 30 years to build their own self-sufficient city after discovering access to an underground aquifer can provide more than enough water for the project, sitting 20 miles north of Laredo, Texas.

  • May 22, 2024

    Croke Fairchild Hires 2 Real Estate Attys For Chicago Office

    Croke Fairchild Duarte & Beres LLC hired Penelope Campbell and Ari Krigel as partners for its real estate practice in Chicago, the firm announced.

  • May 22, 2024

    Pa. Justices To Say If Building Co-Owner Is 'Indispensable'

    The Supreme Court of Pennsylvania will take up an appeal over whether the co-owner of a rental property who doesn't handle its operation is nonetheless an "indispensable party" whose omission was fatal to a tenant's slip-and-fall lawsuit.

  • May 22, 2024

    Fraud Defendant Strikes Deal To End Ch. 11, Sell House

    A corporation owned by the defendant in a $93 million securities fraud case Wednesday told a Florida bankruptcy judge it has reached a deal to end its Chapter 11 case and sell the multimillion-dollar Coral Gables home that is its sole asset.

  • May 22, 2024

    Goodwin Real Estate Atty Eyes Gov't Role In Adaptive Reuse

    Investors considering converting office buildings to a residential use are increasingly seeking more assistance from and collaboration with governments, one of Goodwin's real estate leaders told Law360 in a recent interview.

  • May 21, 2024

    Realtors Want Rethink After DOJ Antitrust Probe Allowed

    The National Association of Realtors has asked the D.C. Circuit for a rehearing after the appeals court found the U.S. Department of Justice can reopen an antitrust investigation into the trade group despite an earlier agency settlement over the association's rules.

  • May 21, 2024

    Toll Bros. Lobs Legal Malpractice Claims At Gordon Rees

    Luxury home builder Toll Bros. Inc. has filed legal malpractice and breach of contract claims against Gordon Rees Scully Mansukhani LLP, claiming that the California-based firm didn't comply with discovery obligations, among other failures while representing Toll Bros. in a dispute over a project in Washington state.

  • May 21, 2024

    LoanDepot's $3.5M Deal In IPO Disclosure Suit Gets Final OK

    A California federal judge has granted final approval to LoanDepot's $3.5 million settlement in a suit alleging it misled investors leading up to the company's initial public offering, despite a shareholder's objection that the settlement is insufficient.

  • May 21, 2024

    DOJ Drops Disability Bias Suit Over Minn. City's Nuisance Law

    The U.S. Department of Justice and the Minnesota city of Anoka asked a Minnesota federal judge on Tuesday to approve a proposed agreement that would end the DOJ's suit alleging that a local nuisance ordinance discriminated against tenants with mental health disabilities and the associates of those tenants.

  • May 21, 2024

    Alex Jones Judge Sets Day Of Reckoning For Ch. 11 Case

    Saying that something has to happen in the bankruptcy case of right-wing radio firebrand Alex Jones, the Texas judge overseeing the case reiterated his position that Jones' Chapter 11 plan will be confirmed at a June 14 hearing or the case will be dismissed or converted to a liquidation.

  • May 21, 2024

    22 States Tell 11th Circ. Corp. Transparency Act Goes Too Far

    The federal Corporate Transparency Act unconstitutionally displaces state authority and its enforcement would economically harm states and their residents, attorneys general from 22 states told the Eleventh Circuit, urging it to uphold a ruling that struck down the law.

  • May 21, 2024

    NM Dept. Proposes Tax Change For Short-Term Rentals

    New Mexico would clarify that businesses engaged in leasing short-term rentals are subject to gross receipts tax under a proposed rule published Tuesday by the state's revenue department.

  • May 21, 2024

    NC Panel Cans Atty's 'Grossly Excessive' Fees In Wage Suit

    A North Carolina appeals court rejected a real estate agent's bid to be awarded nearly $500,000 in attorney fees after winning an unpaid wages lawsuit, reasoning Tuesday that state wage law doesn't require that fees be granted to a prevailing party.

  • May 21, 2024

    Strategic Hiring Was The New Normal For BigLaw In 2023

    The 400 largest law firms by headcount in the U.S. grew more slowly in 2023 than in the previous two years, while Kirkland & Ellis LLP surpassed the 3,000-attorney threshold, according to the latest Law360 ranking.

  • May 21, 2024

    The Law360 400: Tracking The Largest US Law Firms

    The legal market expanded more tentatively in 2023 than in previous years amid a slowdown in demand for legal services, especially in transactions, an area that has been sluggish but is expected to quicken in the near future.

  • May 20, 2024

    High Interest Rates, Low Supply Keep Outlook Strong For SFR

    With the likely persistence of higher interest rates and a significant lack of housing supply keeping the cost of home-buying up, single-family rentals appear likely to maintain an important position in the real estate landscape for the foreseeable future, speakers said Monday as industry players gathered for a conference in Miami Beach, Florida.

  • May 20, 2024

    Atlanta Housing Authority Taps GC For Leadership Role

    The Atlanta Housing Authority announced Friday it has named general counsel Dwayne Vaughn as its new chief operating officer, saying the transition coincides with an authority-wide priority shift.

  • May 20, 2024

    HOA Pecks At Chickens-As-Pets Theory In NC Appeal

    A North Carolina couple's 60-plus chickens aren't household pets, a local homeowners association has told the state's top court in seeking to reinstate a $31,500 judgment in its favor that was upended last month by a three-judge panel in the lower appeals court.

  • May 20, 2024

    4th Circ. Says 'Gargantuan' NC Beach Home Meets Zoning Regs

    A 15,000-square-foot oceanfront vacation home with 24 bedrooms, 25 bathrooms and a swimming pool in North Carolina's Currituck County complies with state and county zoning requirements, the Fourth Circuit ruled in a published opinion.

  • May 20, 2024

    McKinsey Says Gains From Tenant Data Can Drive Growth

    To produce profits in a time of stagnant capital markets, landlords should take a page from the book of hospitality companies and retailers and collect more data on tenants and use it to retain and attract residents, according to a McKinsey & Co. report.

Expert Analysis

  • Proactive Measures While NY Foreclosure Law Is In Limbo

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    While questions about the scope and constitutionality of New York's Foreclosure Abuse Prevention Act might not be resolved by courts for years, lenders, borrowers and other interested parties can take action to protect their rights and potentially expedite appellate review, say Allison Schoenthal and Andrew Kim at Goodwin.

  • EB-5 Investment Period Clarification Raises More Questions

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    U.S. Citizenship and Immigration Services' recent clarifying guidance for EB-5 investors, specifying that the statutory investment period begins two years from the date of investment, raises as many questions as it answers given related agency requirements and investors' potential contractual obligations, says Daniel Lundy at Klasko Immigration Law Partners.

  • How NY Residential Property Condition Disclosure Is Shifting

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    New York's recent significant amendments to the Property Condition Disclosure Act provide a new focus on the risk and damage from flooding, and the changes will affect the duties and standard of practice for real estate brokers, as well as liability and compliance for sellers and landlords, says Steven Ebert at Cassin & Cassin.

  • Conn. Banking Brief: The Notable Compliance Updates In Q3

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    The most notable legal changes affecting Connecticut financial institutions in the third quarter of 2023 included increased regulatory protections for consumers, an expansion of state financial assistance for underserved communities, and a panoply of tweaks to existing laws, says Brian Rich at Barclay Damon.

  • Mass. Banking Brief: The Notable Compliance Updates In Q3

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    Among the most significant developments in the financial services space in the third quarter of the year, the Massachusetts Supreme Judicial Court handed down a stunning endorsement of the state's fiduciary duty rule, and banking regulators continued their multiyear crackdown on unregistered entities, say attorneys at Mintz.

  • Insurance Rulings Continue Expansion Of Appraisal's Ambit

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    Two recent Illinois insurance cases allowing property damage appraisers to determine causation — Wysoczan v. Cambridge in federal court and Shelter v. Morrow in state appellate court — perpetuate a judicial trend that will result in a slower, more expensive and cumbersome appraisal process that resembles litigation, says Matthew Fortin at BatesCarey.

  • In The CFPB Playbook: The Bureau In The Courts

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    From defending the constitutionality of its funding and the scope of its rulemaking authority in the courts to releasing more nonbinding guidance, the Consumer Financial Protection Bureau had a busy summer. Orrick's John Coleman discusses all this and more in the second installment of quarterly bureau activity recaps by former CFPB personnel.

  • Fintech Cos. Should Consider Asset-Based Financing For RE

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    Fintech companies that own or plan to acquire real property may be able to utilize asset-based financings to access more efficient and cost-effective forms of capital beyond traditional venture capital sources, say attorneys at Mayer Brown.

  • What To Consider When Converting Calif. Offices To Housing

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    In light of California legislators' recent efforts to expedite the process for converting offices into residential buildings, developers should evaluate both the societal upsides, and the significant economic and legal hurdles, of such conversions, says Steven Otto at Crosbie Gliner.

  • How New Lawyers Can Leverage Feedback For Growth

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    Embracing constructive criticism as a tool for success can help new lawyers accelerate their professional growth and law firms build a culture of continuous improvement, says Katie Aldrich at Fringe Professional Development.

  • 9 Consumer Finance Issues To Note From CFPB Report

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    A recent report from the Consumer Financial Protection Bureau highlights abusive consumer finance tactics that the agency uncovered during supervisory examinations over the last year — among the most significant issues identified: deceptive practices in automotive loan servicing, and consumer reporting and debt collection compliance failures, say attorneys at Troutman Pepper.

  • Twitter Legal Fees Suit Offers Crash Course In Billing Ethics

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    X Corp.'s suit alleging that Wachtell grossly inflated its fees in the final days of Elon Musk’s Twitter acquisition provides a case study in how firms should protect their reputations by hewing to ethical billing practices and the high standards for professional conduct that govern attorney-client relationships, says Lourdes Fuentes at Karta Legal.

  • Transaction Risks In Residential Mortgage M&A Due Diligence

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    As the residential mortgage market continues to consolidate due to interest rate increases and low housing volume, buyers and sellers should pay attention to a number of compliance considerations ranging from fair lending laws to employee classification, say attorneys at Mayer Brown.