Residential
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June 24, 2025
Simpson Thacher Guides $575M Loan For Times Square Office
In two loan deals guided by Simpson Thacher & Bartlett LLP, Apollo Global Management Inc. borrowed more than $575 million for a Times Square office skyscraper that's going to be converted into a residential building, according to official property records filed Tuesday.
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June 24, 2025
MG Properties Adds SoCal Complex For $144M In Latest Buy
Real estate investment and management company MG Properties announced it has paid $144 million for an Anaheim, California, apartment complex in its second major Southern California purchase this year.
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June 23, 2025
Calif. Property Co. Denied Early Win In Defect Coverage Suit
A California federal court refused to hand a partial win to the owner of a Brentwood retirement community seeking excess coverage for an underlying settlement stemming from homeowners' construction defect claims, saying genuine issues of fact exist as to whether the claims constitute "suits" under the policy.
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June 23, 2025
NYC Mayor Shelves Controversial Elizabeth St. Garden Housing
New York City Mayor Eric Adams agreed not to redevelop a downtown Manhattan garden into 123 senior affordable homes in exchange for a New York City council member backing the rezoning of more than 620 affordable homes elsewhere in the council member's district, the Office of the Mayor announced Monday.
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June 23, 2025
NY Tribunal Blocks Brownfield Tax Credit For Offsite Costs
A brownfield developer can't claim New York's brownfield redevelopment tax credit on capitalized costs related to water main improvements serving the site, the state tax tribunal ruled in an opinion released Monday, overturning an administrative law judge's determination.
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June 23, 2025
Flagstar Says NYC Landlord's Entities Can't Use Collateral
Flagstar Bank is urging a New York bankruptcy court not to let a New York City landlord's 82 entities use almost $30 million of the bank's collateral for other purposes, such as administrating their Chapter 11 cases and running their operations.
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June 23, 2025
Mass. Home Was Overvalued, Tax Board Rules
A Massachusetts home should have its value lowered based on the home's purchase price and comparable sales in the area, the state Appellate Tax Board said in a ruling released Monday.
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June 23, 2025
NYC Real Estate Week In Review
Fried Frank and BakerHostetler are among the law firms that scored work on the top New York City real estate deals that hit public records last week, with deals in Manhattan and the Bronx leading the way.
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June 23, 2025
Compass Sues Zillow Over Listing Ban
Real estate brokerage Compass sued Zillow in New York federal court Monday, alleging its ban on private listings and coordination with competitors to enforce it amounts to monopolistic behavior.
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June 20, 2025
Paul Weiss-Advised QXO Bids $5B For Alston & Bird-Led GMS
Connecticut-based QXO Inc. has proposed to acquire building materials distributor GMS Inc. in an all-cash deal valued at approximately $5 billion, with Paul Weiss Rifkind Wharton & Garrison LLP backing QXO on the unsolicited bid.
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June 20, 2025
NY ALJ OKs Like-Kind Exchange On Investors' Same-Day Sale
Two New York residents qualify for a like-kind exchange deferment of gains they received from selling an apartment building on the same day they obtained its title from a partnership they were invested in, a New York administrative law judge said in a determination released Friday.
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June 20, 2025
WC Smith Lands $106M For DC Multifamily High-Rise
Developer WC Smith has secured $106.3 million in financing for a 334-unit, 11-story apartment building in Washington, D.C.'s Capitol Riverfront neighborhood, according to an announcement by borrower-side broker Walker & Dunlop.
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June 20, 2025
REIT Wants Mo. Justices To Review City Tax On Rental Income
Rental income from property owned by healthcare real estate investment trust Ventas Inc. should not be taxed by Kansas City, Missouri, as income from business activity, the company said, seeking review of the case by the state supreme court.
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June 20, 2025
Oak Row Lands $210.5M In Loans For Miami Tower Project
Oak Row Equities borrowed $210.5 million worth of construction loans for its luxury multifamily tower project in Miami that's going to start construction "immediately" and has a fourth-quarter 2027 delivery date, the real estate private equity firm and developer announced Friday.
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June 18, 2025
State Farm Likely To Face 200K Calif. Homeowner Class
A California federal judge indicated Wednesday that he'll likely certify a class of nearly 200,000 homeowners in litigation alleging that State Farm underpays property insurance claims by depreciating sales tax when calculating replacement costs, saying a common issue predominates and noting he'd sided with plaintiffs in a similar 2017 case.
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June 18, 2025
Attorneys Say Look Before Leaping Back Into Senior Housing
Attorneys advising on senior housing deals are seeing more interest from investors and developers, due to demographic trends and the post-pandemic recovery, but emphasize the unique legal considerations of a sector that straddles healthcare and real estate.
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June 18, 2025
NY High Court Stands By Kingston Rent Stabilization Opt-In
New York's highest court on Wednesday affirmed the city of Kingston's decision to opt in to rent stabilization, confirming the standard for municipal vacancy surveys underpinning such decisions while stopping short of ruling on Kingston's historic decision to roll rents back by 15%.
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June 18, 2025
Phillips Lytle Forms Land Use, Permitting, Zoning Group
Phillips Lytle LLP has created a team of 11 attorneys who will focus on land use, obtaining permits and zoning matters, the firm announced Tuesday.
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June 18, 2025
Colo. Judge Trims REIT's Antitrust MDL Coverage Dispute
A Colorado federal court trimmed a real estate investment trust's suit seeking coverage for antitrust multidistrict litigation, saying the trust's statutory bad faith claim under Colorado law could not proceed because of a New York choice-of-law provision in its primary policy.
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June 18, 2025
PNC Closes $208M Affordable Housing Fund
PNC Bank closed a low-income housing tax credits fund that will invest more than $208 million into developing and rehabilitating affordable housing in the U.S., the bank announced Wednesday.
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June 18, 2025
Ex-Yankee Scores $222K Jury Award In Moldy Mansion Trial
A Connecticut federal jury on Wednesday awarded retired New York Yankees third baseman Joshua Donaldson more than $222,000 in a dispute with a former landlord he blamed for the presence of mold in a Greenwich mansion, and a judge is expected to double a substantial portion of that amount.
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June 18, 2025
Lender Registers $20M Win For Mobile Home Loans Suit
A lender has registered in North Carolina district court its nearly $20 million victory in a Georgia federal suit accusing a manufactured homes company and its affiliates of defaulting on loans used to buy more than 600 manufactured homes.
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June 18, 2025
Mich. Housing Co-Op Suit On Hold After Disclosure Exemption
A Michigan federal judge hit pause on a lawsuit from a group of housing cooperatives to escape requirements of the Corporate Transparency Act after the Financial Crimes Enforcement Network said it would give U.S.-based entities a break from the rules.
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June 18, 2025
Dentons Global Hospitality Leader Sees Underwriting Caution
As President Donald Trump's trade war continues, lenders are increasingly exercising caution in underwriting deals for hotels, particularly in areas that depend on a steady influx of international travel, Dentons' global hospitality leader told Law360 in a recent interview.
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June 18, 2025
Calif. Eyes Urban Infill Housing, Sidestepping CEQA Overhaul
California state lawmakers faced with an ongoing housing crisis have backed a measure to boost new urban projects, even while avoiding other confrontations over a long-cited obstacle to housing construction.
Expert Analysis
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The Story Of 2024's Biggest Bank Regs, And Their Fate In 2025
U.S. federal bank regulators were very active in 2024 with initiatives ranging from antitrust and capital to proposals regarding controlling shareholders and incentive-based compensation, but many regulations face an uncertain future under the new administration, say attorneys at Latham.
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Conducting A 'Reasonably Expected Market Area' Analysis
Regardless of whether the incoming administration scales back on redlining examinations and investigations, lenders should take steps to understand how regulators define "reasonably expected market areas," and how to conduct analyses of such areas, say attorneys at Mitchell Sandler.
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Adapting Force Majeure To A Predictably Unpredictable World
As the climate and political landscapes get more complicated, force majeure provisions will likely be triggered increasingly often, demanding an evolving understanding of when events and their impacts are truly unforeseeable, say attorneys at Nossaman.
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Impact Of Corporate Transparency Act Ambiguity On Banks
Even though banks generally needn't file beneficial ownership information reports, financial institutions must continue to monitor the status of the Corporate Transparency Act and understand its requirements in case the nationwide injunction that was issued against the CTA earlier this month is overturned, say attorneys at Armstrong Teasdale.
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Strategies For Home Equity Investment Providers In 2025
The home equity investment product market is thriving even amid consumer concerns, regulatory scrutiny and conflicting court decisions, setting the stage for a promising but challenging environment for providers in 2025, say attorneys at Sheppard Mullin.
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What Interest Rate Cuts Mean For Housing Markets
The Federal Reserve's recent reduction of interest rates may provide limited immediate relief for real estate sectors, but offers potential opportunities for commercial real estate investors and construction firms, which now face an environment ripe for new projects, say attorneys at Cozen O'Connor.
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California Supreme Court's Year In Review
Attorneys at Horvitz & Levy highlight notable decisions on major questions from the California Supreme Court's last term, including voter initiatives, hostile work environment and the economic loss rule.
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How CFIUS' Updated Framework Affects Global Investors
The recent change to the monitoring and enforcement regulations governing the Committee on Foreign Investment in the United States will broaden administrative practices around nonnotified transaction investigations, increase the scope of information demands from the committee and accelerate its ability to impose mitigation on parties, say attorneys at Simpson Thacher.
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'Reverse Redlining' Suit Reveals Language Risks For Lenders
The Justice Department's case against consumer finance provider Colony Ridge highlights the government's focus on lending to consumers with limited English proficiency and the risks of generating marketing materials in other languages while conducting actual transactions in English, say attorneys at Goodwin.
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Hurricane Coverage Ruling Clarifies Appraisal Scope In Fla.
In a case involving property insurance for hurricane damage, a Florida federal court recently enforced policy limits despite an appraisal award exceeding those limits, underscoring the boundaries between valuation and coverage — a distinction that provides valuable guidance for insurers handling post-catastrophe claims, says Tiffany Bustamante at Cozen O’Connor.
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Feds May Have Overstepped In Suit Against Mortgage Lender
The U.S. Department of Justice's lawsuit against Rocket Mortgage goes too far in attempting to combat racial bias and appears to fail on the fatal flaw that mortgage lenders should be at arm's length from appraisers, says Drew Ketterer at Ketterer & Ketterer.
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Foreclosing Lenders Still Floating In Murky Legal Waters In NY
The New York foreclosure landscape remains in disarray after the state's highest court last month declined to weigh in on whether legal changes from 2022 that severely curtailed lenders' ability to bring successive foreclosure cases were retroactive, says Brian Rich at Barclay Damon.
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Philly's Algorithmic Rent Ban Furthers Antitrust Policy Trends
A Philadelphia bill banning the use of algorithmic software to set rent prices and manage occupancy rates is indicative of growing scrutiny of this technology, and reflects broader policy trends of adapting traditional antitrust principles to respond to new technology, say attorneys at Ballard Spahr.