Commercial
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May 22, 2025
State Greenlights Fried Frank-Guided NYC Resi Conversion
The Empire State Development Corp.'s board of directors voted Thursday to approve RXR and Apollo Global Management's massive office-to-residential conversion in New York's Times Square, a project advised by Fried Frank Harris Shriver & Jacobson LLP.
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May 22, 2025
NYC Real Estate Week In Review
Fried Frank and Kramer Levin are among the law firms that scored work on the largest New York City real estate deals to hit public records last week, a slow period that saw only five matters above the $20 million mark become public.
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May 22, 2025
Coalition Backs Calif. Tribe's Fight Over $700M Casino Project
A coalition of tribes weighed in on a dispute over the federal government's decision to rescind gambling eligibility for the Scotts Valley Band of Pomo Indians' $700 million casino project, questioning the federal government's perceived acquiescence to pushback from other tribes.
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May 22, 2025
Trustee Alleges Developer Sold Gas Rights To Avoid Creditors
A bankrupt developer sold its oil and gas rights to an affiliated company for only $100 per parcel in order to keep them from becoming part of the bankruptcy estate, the estate's trustee has claimed in an adversary complaint.
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May 22, 2025
NYC Landlord Pinnacle Files Ch. 11, Claiming $500M-Plus Debt
A group of entities for New York landlord Pinnacle Group has filed for Chapter 11 protection in federal bankruptcy court, claiming at least $500 million in assets and liabilities on a portfolio of 82 holding companies.
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May 22, 2025
Ore. Âé¶¹´«Ã½makers OK Renewed Historic Preservation Credit
An expired Oregon tax credit for historic preservation would be reauthorized and limited to commercial properties under legislation passed by the state Senate and headed to the governor.
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May 21, 2025
Developers' Âé¶¹´«Ã½yers Vying For NY Casino Licenses
The contest to win a license for a full casino in New York City is heating up.
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May 21, 2025
Intel Investors Say They Fixed Suit Over Chipmaking Woes
Intel Corp. investors say a California federal judge should reject the company's bid to dismiss a suit claiming it concealed problems in its domestic computer chipmaking business, arguing they have fixed all potential deficiencies in the suit that previously led to its dismissal.
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May 21, 2025
Pullman & Comley Hospitality Leader On Travel, Taxes, Tariffs
Hotel owners are cautiously awaiting more clarity on what tariffs will look like going forward, and in the meantime, companies are reluctant to commit to new projects or renovations, Pullman & Comley's hospitality leader recently told Âé¶¹´«Ã½360.
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May 21, 2025
Industry Group-Backed Bill Would Override NY Scaffold Âé¶¹´«Ã½
A bill introduced Wednesday would seek to supersede New York's Scaffold Âé¶¹´«Ã½ on federal projects, in a move to limit the scope of the longstanding rule that makes contractors and project owners strictly liable for the fall-related deaths of construction workers.
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May 21, 2025
Montana Reduces Taxes On Residential, Commercial Property
Montana will lower taxes on residential and commercial property, provide property tax rebates to homeowners and implement other changes to the state's property tax regime under legislation signed by the governor.
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May 21, 2025
What The 'Big, Beautiful Bill' Proposes For Opportunity Zones
As Congress moves forward with the budget reconciliation bill, one program that has been popular with investors and was meant to spur development in low-income neighborhoods could receive a makeover if the One Big Beautiful Bill Act becomes law.
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May 21, 2025
2025 Âé¶¹´«Ã½ Firm Leasing Begins Strong, Report Shows
U.S. law firms are on pace to surpass 2024's record-setting leasing activity, ending the first quarter of 2025 with 3.4 million square feet of new or renewed leases throughout the country, according to newly released data.
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May 21, 2025
2 Firms Guide $250M Loan For Manhattan Durst Tower
Cadwalader Wickersham & Taft LLP and Rosenberg & Estis PC advised on a $250 million loan for the Durst Organization's 1155 Avenue of the Americas tower, with financing provided by JPMorgan Chase Bank and Wells Fargo.
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May 21, 2025
Skadden Helps Five Point Plug $1B Into Data Center Developer
Five Point Infrastructure, advised by Skadden Arps Slate Meagher & Flom LLP, has announced it backed newly formed data center developer PowerBridge with a $1 billion investment.
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May 21, 2025
Texas Âé¶¹´«Ã½makers OK More Time To Pay Property Tax Bills
Texas would give some property owners more time to pay their tax bills under legislation approved by state lawmakers and headed to Gov. Greg Abbott.
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May 21, 2025
Gibson Dunn Dealmakers Talk NY Religious Real Estate
Advising religious real estate transactions in New York City requires a keen understanding of faith-based organizations and a regulatory review process that all such transactions must pass through. Two attorneys from Gibson Dunn spoke to Âé¶¹´«Ã½360 Real Estate Authority about the process in a recent interview.
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May 21, 2025
Cadwalader Adds Ex-Latham Infrastructure Atty In London
Cadwalader Wickersham & Taft LLP announced it has added a former Latham & Watkins LLP infrastructure finance attorney as a partner in its London office.
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May 20, 2025
Husch Blackwell Adds Holland & Knight Real Estate Atty
Husch Blackwell LLP has brought on a real estate pro from Holland & Knight LLP to its Nashville, Tennessee, office, who brings a roster of clients already based in the city or looking to grow their presence there.
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May 20, 2025
Beach Point Nabs Nearly $1.3B For Private Credit, Real Estate
Beach Point Capital Management said Tuesday it has raised nearly $1.3 billion across two investment funds, as it continues to build out its offerings in private credit and real estate.
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May 20, 2025
FTC Case Against Greystar Stayed For Settlement Talks
A Colorado federal judge has stayed a Federal Trade Commission suit alleging developer and property manager Greystar advertised deceptive rental prices after the parties notified the court that they are in "active settlement negotiations" that could resolve the entire case.
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May 20, 2025
Former Prologis GC Joins BarkerGilmore's Advisory Team
After nearly 30 years of helping to build Prologis Inc. as a top real estate investment trust, or REIT, the company's former general counsel has joined executive search and talent advisory BarkerGilmore LLC to help up-and-coming in-house legal talent advance their careers.
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May 20, 2025
Berkshire Hathaway RE Affiliate GC To Lead Pacific Sotheby's
Pacific Sotheby's International Realty, a luxury brokerage firm in the Southern California market, has found its new president in the former general counsel for San Diego-based Berkshire Hathaway HomeServices California Properties.
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May 20, 2025
Greenberg Traurig, Gibson Dunn Guide $865M Ariz. Hotel Sale
Ryman Hospitality Properties Inc. has purchased a Marriott-branded Phoenix resort from Trinity Investments for $865 million in a deal guided by Gibson Dunn and Greenberg Traurig, per statements from the buyer and seller.
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May 19, 2025
Real Estate CEO Gets 87 Months For $63M Crowdfund Fraud
The former CEO of a real estate investment firm who copped to ripping off investors in a crowdfunded $63 million development scheme was hit with a seven-plus-year prison sentence Monday from a Georgia federal judge who said the financier's "addiction to optimism" had been his ruin.
Expert Analysis
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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
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
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.
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Increased Scrutiny Raises Int'l Real Estate Transaction Risks
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.
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Portland's Gross Receipts Tax Oversteps City's Authority
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.
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Proposed Âé¶¹´«Ã½ Would Harm NYC Hospitality Industry
A recently proposed New York City Âé¶¹´«Ã½ 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.
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Class Actions At The Circuit Courts: August Lessons
In this month's review of class action appeals, Mitchell Engel at Shook Hardy considers certification cases touching on classwide evidence of injury from debt collection practices, defining coupon settlements under the Class Action Fairness Act, proper approaches for evaluating attorney fee awards in class action settlements, and more.
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Brownfield Questions Surround IRS Tax Credit Bonus
Though the IRS has published guidance regarding the Inflation Reduction Act's 10% adder for tax credits generated by renewable energy projects constructed on brownfield sites, considerable guesswork remains as potential implications seem contrary to IRS intentions, say Megan Caldwell and Jon Micah Goeller at Husch Blackwell.
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DOJ Paths To Limit FARA Fallout From Wynn's DC Circ. Win
After the D.C. Circuit’s recent Attorney General v. Wynn ruling, holding that the government cannot compel retroactive registration under the Foreign Agents Registration Act, the U.S. Department of Justice has a few options to limit the decision’s impact on enforcement, say attorneys at MoFo.
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Shipping Containers As Building Elements Require Diligence
With the shipping container market projected to double between 2020 and 2028, repurposing containers as storage units, office spaces and housing may become more common, but developers must make sure they comply with requirements that can vary by intended use and location, says Steven Otto at Crosbie Gliner.
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NY Tax Talk: Triggers For Tax On Software-As-A-Service
Recent decisions by New York’s Tax Appeals Tribunal and Division of Tax Appeals, finding that services bundled with prewritten software were tangible property, provide insight into the features and customer interactions that render such products subject to New York sales tax, say Elizabeth Cha and Madison Ball at Eversheds Sutherland.