Commercial
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August 25, 2025
Vornado To Buy NYC Office Tower, Scraps Residential Plan
Vornado Realty Trust will pay $218 million to acquire and redevelop a 36-story office condominium into a new office property, canceling the seller's previous plan to convert the property into a residential building, the real estate investment trust announced Monday.
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August 25, 2025
Morrison Cohen Hires Ex-K&L Gates Real Estate Partner
Manhattan-based Morrison Cohen LLP announced Monday the hiring of a former K&L Gates LLP partner for its real estate practice.
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August 25, 2025
Texas Bill Would OK Low-Population Voter-Approval Tax Rates
The Texas voter-approval property tax rate, the maximum rate a local government can adopt without voter approval, would be reduced for smaller taxing authorities under a bill passed in the state Senate and a House committee.
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August 22, 2025
DC Circ. Weighing $47M Award Is Told Due Process At Stake
A Mexican businessman at the center of an allegedly fraudulent loan scheme underpinning an international tribunal's $47 million award to a Canadian investor is urging the D.C. Circuit to cancel the award, calling the underlying arbitration a "blatant denial" of due process.
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August 22, 2025
NYC Mall Lenders, Developer Ax Foreign Investor Suit
A New York federal judge dismissed foreign investors' suit over the loss of their investment in a New York City mall project, finding they failed to prove their investments were lost because parties allowed their funds to be subordinated to later financing provided by a Goldman Sachs affiliate.
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August 22, 2025
AY Strauss Boosts Commercial Real Estate Group With 4 Attys
A.Y. Strauss announced Friday that it has added two partners, one who comes aboard from Dechert LLP and another who formerly led a practice group at a boutique firm, and two other attorneys to bolster its capacity to handle commercial real estate matters.
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August 22, 2025
Rubin And Rudman Adds Environmental Land Use Law Expert
Rubin and Rudman LLP has hired a partner to the firm's environmental, land use and zoning practice group whose transactional and regulatory compliance focus will complement the firm's bench of environmental land use law and real estate law experts and litigators.
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August 22, 2025
Mich. Bills Seek New Tax On Electric Infrastructure Upgrades
Michigan would exempt replacement electric distribution infrastructure from property tax and instead impose an annual tax on the electric utility that owns the infrastructure under bills introduced in the state House of Representatives.
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August 22, 2025
Real Estate AI Co. Can't Dodge $100M Share Deal Breach Suit
A New York federal judge has mostly denied reAlpha Tech Corp.'s bid to toss a Luxembourg-based investment firm's suit seeking to enforce a $100 million share purchase agreement, rejecting reAlpha's arguments seeking to toss the suit's breach of contract and damages claims but dismissing the plaintiff's declaratory judgment claim.
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August 22, 2025
Taxation With Representation: Kirkland, Weil, Fried Frank
In this week's Taxation With Representation, private equity firm Thoma Bravo buys human resources software provider Dayforce Inc. in a take-private deal, Lowe's buys Foundation Building Materials, Nexstar Media Group Inc. acquires fellow media company Tegna Inc., and Soho House & Co. Inc. inks a take-private deal with hotel operator MCR.
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August 22, 2025
IRS Guidance Sparks Mixed Reaction For Solar, Wind Projects
The IRS recently narrowed the way large solar and wind energy development projects can set their construction start dates to qualify for certain tax credits, a change offering relief for some developers but new hurdles for others depending on the stage, type and size of the project.
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August 21, 2025
Tax Court Says Civil Fraud Penalty Cases Don't Require Juries
The U.S. Tax Court rejected Thursday a Mississippi partnership's bid, based on the Supreme Court's landmark 2024 decision requiring a jury to adjudicate common law fraud penalties, to dismiss civil fraud penalties the IRS imposed on a conservation easement transaction.
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August 21, 2025
3 Firms Guide Essential Properties' $400M Notes Offering
Latham & Watkins LLP, Sidley Austin LLP and Venable LLP helped steer Essential Properties Realty Trust's $400 million note offering, which closed on Aug. 21, per a statement from Latham & Watkins.
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August 21, 2025
Receiver In Nate Paul Dispute Not Entitled To $2.8M In Fees
A state appeals court said Thursday that a receiver in a dispute involving companies owned by real estate investor Nate Paul can't recover $2.8 million in fees because the sum the fees stem from never came into his possession.
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August 21, 2025
Minnesota Tax Court Cuts Abbott Labs Property Value By $7M
A property owned by Abbott Laboratories Inc. was overvalued, and its 2022 assessment should be reduced by about $7 million, the Minnesota Tax Court found.
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August 21, 2025
NJ Court Halts Tower Linked To Menendez Co-Conspirator
A New Jersey state court judge ordered a developer to halt construction on a mixed-use project formerly headed by a businessman convicted alongside former U.S. Sen. Robert Menendez, finding the buildings' height is "clearly exceeding" plans approved in 2018.
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August 21, 2025
NYC Real Estate Week In Review
HSF Kramer and Walsh & Gilad are among the law firms that picked up work on the largest New York City real estate deals that hit public records last week, with a nine-figure Manhattan trade topping the list.
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August 21, 2025
KKR Leads Bidding War For Nissan HQ, Plus More Rumors
Private equity firm KKR is said to be dominating in a bidding war for Nissan Motor's headquarters in Japan, Jared Kushner's private equity firm is rumored to have taken a minority stake in British bank OakNorth, and railroad giant CSX is reportedly facing pressure from activist investment firms to pursue a merger. Here, Law360 breaks down these and other deal rumors from the past week.
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August 21, 2025
2 Firms Work On $810M NYC Luxury Rentals Purchase
Two Fried Frank Harris Shriver & Jacobson LLP partners and a Gibson Dunn & Crutcher LLP partner guided the $810 million purchase and financing of a luxury rental building in Manhattan.
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August 21, 2025
Idaho Church Granted Full Exemption By State Supreme Court
An Idaho church that leased a portion of its property to be used a day care center operated by the YMCA is still eligible for a full property tax exemption, the state Supreme Court said, overturning a lower court ruling.
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August 21, 2025
Texas Resolution Seeks Vote On Broader Property Tax Limit
Texas would ask voters to decide if the state should amend its constitution to apply an existing limit on the appraised value of residence homesteads to other types of property under legislation filed in the state House of Representatives.
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August 21, 2025
5 Firms Guide Canadian Resi REIT's $354M Sale
Dream Residential REIT announced Aug. 21 that the Canadian company's board has reviewed and signed off on its $354 million, all-cash sale to Morgan Properties, a deal shaped by five different firms.
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August 21, 2025
Cantor Equity Partners IV Begins Trading After $400M IPO
Special purpose acquisition company Cantor Equity Partners IV Inc., sponsored by private equity giant Cantor Fitzgerald, hit the public markets Thursday after pricing its $400 million initial public offering the day prior.
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August 21, 2025
NY Appeals Court Throws Out Trump's $500M Fraud Penalty
A divided New York state appeals court panel on Thursday tossed a nearly $500 million civil fraud penalty against President Donald Trump and his sons, companies and their executives, ruling that the fine was "excessive," but kept in place a judge's finding of liability.
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August 20, 2025
Ohio Justices Free Bank From $77M Guaranty Disclosure Duty
The Ohio Supreme Court on Wednesday ruled that nothing in state law required Huntington Bank to inform a co-signer of a $77 million loan guaranty about the risks associated with signing the deal with two other partners, one of whom later pled guilty to a check-kiting scheme.
Expert Analysis
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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.
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Keys To Successful Commercial Property Insurance Claims
Excerpt from Practical Guidance
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.
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Tips For Handling Single Asset Real Estate Bankruptcy Cases
Excerpt from Practical Guidance
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.