Real Estate

  • May 3, 2016

    Gov't Seeks To Nix Suit Over EB-5 Program Gerrymandering

    The federal government on Monday asked a Texas federal court to dismiss a suit over “gerrymandered” targeted employment areas, districts where would-be immigrants can invest lower amounts in order to secure EB-5 visas, arguing the nonprofit behind the suit lacks standing for its claims.

  • May 3, 2016

    NJ Co. Monopolizes Online Tax Lien Sales, Report Says

    Irregularities surrounding New Jersey’s online tax lien bidding system have allowed one private vendor and its partner to monopolize the lucrative auctions, according to a state report Tuesday that recommended a series of statutory and administrative reforms to the system.

  • May 3, 2016

    Feds Eye Future Of Tribal Land Buyback Program

    U.S. Secretary of the Interior Sally Jewell looked to the future of the government’s $1.9 billion tribal land buyback program during a signing ceremony Tuesday for her department's new agreement with the Blackfeet Nation.

  • May 3, 2016

    Md. High Court Allows Post-Cutoff Tax Assessment Evidence

    Maryland's highest court said Tuesday the state’s tax court can value a property by relying on sale prices of comparable properties bought soon after a cutoff date for the assessment, shooting down arguments by a condominium owner who sought a lower assessment.

  • May 3, 2016

    Chicago's Lucas Museum In Jeopardy After Site Fight

    A Chicago parks group suing to block construction of "Star Wars" creator George Lucas' art museum on a lakefront lot said Tuesday it is also against an alternative site Mayor Rahm Emanuel has proposed, leaving the project's future in doubt.

  • May 3, 2016

    DHS Seeks To Increase A Range Of Immigration Fees

    The U.S. Department of Homeland Security on Tuesday unveiled potential fee changes for a slew of immigration-related forms, including a proposed 145 percent fee increase for a key form used by EB-5 visa applicants and a new $3,035 fee for regional centers, which pool immigrant investor funds.

  • May 3, 2016

    NY Real Estate Tycoon To Pay $7M Over Taxes On Art

    Real estate mogul Aby J. Rosen will fork over $7 million to the state of New York for failing to pay millions in sales and use taxes on his personal art collection as part of a settlement agreement announced Tuesday by New York Attorney General Eric Schneiderman.

  • May 3, 2016

    Caution Creeps In For Commercial Real Estate Players

    Commercial real estate executives are now less bullish about the future of the industry, largely due to global and domestic market volatility, according to a new report released Monday by DLA Piper.

  • May 3, 2016

    Skeloses Seek To Cut $480K From Sentencing Calculation

    Former New York State Senate Majority Leader Dean Skelos and his son told a New York federal judge on Monday that half a million dollars in onetime potential commissions should be ignored in the calculation of their sentences, claiming it was an obliquely discussed payment that never approached fruition.

  • May 3, 2016

    BofA Settles MBS Suit With Former Seattle Bank For $190M

    Bank of America Corp. will pay $190 million to settle a lawsuit originally brought by the Federal Home Loan Bank of Seattle over misstatements or omissions BofA allegedly made when issuing mortgage-backed securities, according to a regulatory filing Monday.

  • May 3, 2016

    Builders Want Wall Around Assets In $7M Notre Dame Dispute

    A builder and developer urged a Massachusetts federal judge on Tuesday not to make them reveal $7 million in assets they could be forced to surrender if an English arbitrator makes them pay the University of Notre Dame for shoddy construction work on its London campus.

  • May 3, 2016

    Philly Firm Sues Insurer Over Ex-Atty's Criminal Defense

    Fineburg Law Associates PC has sued in Philadelphia County to hold an insurer accountable for nearly $3 million the firm spent defending a former partner against federal charges that he helped plunder an ailing mortgage lender after its extortionate, mafia takeover.

  • May 3, 2016

    PennEast Illegally Surveyed Proposed Pipeline Route: Suit

    PennEast's controversial proposal for a $1 billion gas pipeline through New Jersey and Pennsylvania has drawn fire from homeowners and a conservation group who alleged in a Monday suit that the project’s surveyors have trespassed on private properties in two Garden State counties.

  • May 3, 2016

    NJ Tax Court Upholds Valuation Of Palisades Property

    The New Jersey Tax Court in a published opinion Tuesday said neither the borough of Cliffside Park nor the owners of the Palisadium development presented a convincing argument for changing the original property tax valuations on the development, upholding the assessments for 2011 through 2013.

  • May 3, 2016

    EXCLUSIVE: AXA, MetLife Loan $500M For NYC Office Tower

    A subsidiary of Paramount Group Inc. has scored a $500 million loan for a Manhattan office tower from co-lenders AXA and MetLife Inc., a source with knowledge of the transaction told Law360 on Tuesday.

  • May 3, 2016

    Sheldon Silver Gets 12 Years For Corruption

    Former New York State Assembly Speaker Sheldon Silver on Tuesday was sentenced to 12 years in prison after being found guilty of corruption charges stemming from a purported scheme to gain nearly $5 million in exchange for legislative action and state funding.

  • May 3, 2016

    5 Red Flags Of A Fishy EB-5 Project

    With the U.S. Securities and Exchange Commission exposing several alleged schemes involving the EB-5 visa program in recent months, it’s never been clearer that immigrant investors face a real danger of signing up with a potentially fraudulent project. Here, attorneys outline signs that could indicate an EB-5 project isn’t all it’s advertised to be.

  • May 3, 2016

    Feds, SD Tribe Aim To Settle Mortgage Foreclosure Suit

    The federal government and the Oglala Sioux Tribe asked a South Dakota federal court Monday to pause a suit seeking to foreclose on a mortgage secured by tribal trust lands, saying they wanted time to work toward a settlement.

  • May 3, 2016

    Atlas Capital Scores $75M Loan For The Factory

    New York-based real estate investment, development and management company Atlas Capital Group has secured $75 million in financing for its renovated Queens office and industrial building known as The Factory, according to New York City property records made available Monday.

  • May 3, 2016

    Real Estate Rumors: Adam America, CIM Group, UC Santa Cruz

    Adam America Real Estate has reportedly received $29 million in construction financing for a New York condo project, while private equity shop CIM Group is said to have purchased part of a Florida residential, retail and restaurant project for $28 million, and UC Santa Cruz has reportedly leased 130,000 square feet in Scotts Valley, California.

Expert Analysis

  • No Recovery In Calif. For Views Blocked By Public Projects

    Bradford B. Kuhn

    The recent California appeals court case Boxer v. City of Beverly Hills involved the narrow issue of liability for view impairment due to an agency planting trees on government-owned property, but it potentially has a much broader impact and serves as a strong lesson for agencies planning public projects, say Bradford Kuhn and Rick Rayl at Nossaman LLP.

  • OPINION: Engaging The Media May Help Your Client

    Liz Mair

    While I am confident that the decisions in Windsor and Obergefell were made on the basis of the dictates of the Constitution, I am also confident that the communications efforts undertaken gave the justices additional comfort to make the right call, and ensured that these decisions were not treated as a Roe v. Wade redux, says Liz Mair, former online communications director for the Republican National Committee and president of Mair Strategies.

  • Avoiding Pitfalls When Leasing Real Estate In India

    Edward Goodman

    The recent trend of “insourcing," where U.S companies form Indian subsidiaries and hire their own employees instead of relying on third-party Indian companies, requires U.S. companies to lease large amounts of office space. But there are unique legal requirements to be aware of when leasing real estate in India, says Edward Goodman at Ingram Yuzek Gainen Carroll & Bertolotti LLP.

  • Developments At The NAIC Spring Meeting: Part 1

    Thomas M. Kelly

    This three-part series from attorneys at Debevoise & Plimpton LLP highlights some of the developments from the National Association of Insurance Commissioners' spring meeting that are of particular interest to the insurance industry. In this part, we take a look at life insurer, property/casualty insurer, captive reinsurance and cybersecurity developments.

  • Dentons: A New Kind Of Network?

    MarkACohen.jpg

    Dentons is two different law firm networks in one. So even if the Swiss verein structure should eventually fail and Dentons is forced to operate as a network of independent law firms, it could still be a significant market force, says Mark A. Cohen, a recovering civil trial lawyer and the founder of Legal Mosaic LLC.

  • Affordable Housing Constraints Don't Limit Value Of Claims

    Jackson E. Warren

    The Ninth Circuit's decision in the matter of Sunnyslope Housing Ltd. will make it more difficult for affordable housing entities to restructure under Chapter 11 where the property has a higher value without affordable housing restrictions. However, the decision gives affordable housing lenders greater ability to protect their secured claims in bankruptcy, say attorneys at Buchanan Ingersoll & Rooney PC.

  • Texas Hail Claims: Dealing With Multiple Disasters At Once

    David Winter

    North Texas recently experienced a series of significant hailstorms, bringing up issues commonly associated with insurance claims arising from multiple events over a short period of time, like how to calculate multiple deductibles and when to provide notice, says David Winter at Zelle LLP.

  • Excusable Neglect In Fla.: Who's In Charge Of Follow-Up?

    Colleen A. Maranges

    Although the Florida Supreme Court's recent decision in Santiago v. Mauna Loa Investments will certainly be cited for its reaffirmation of the “four-corners” rule, it also raises interesting (and troubling) questions about the extent to which clients may safely assume their attorneys are protecting their interests, says Colleen Maranges at Berger Singerman LLP.

  • 2nd Shoe Drops: HUD Warns Crime Screening May Violate FHA

    Harry J. Kelly

    Recent guidance from the Office of General Counsel at the U.S. Department of Housing and Urban Development promises to radically alter the daily practice of thousands of housing providers around the country who routinely rely on criminal background screening to help protect their tenants and property from threats posed by persons with past criminal records, says Harry Kelly of Nixon Peabody LLP.

  • When A Contract 'Runs With The Land' — A Look At The Laws

    Michael G. Connelly

    The determination of whether an oil producer may avoid the burdens of a gathering agreement through rejection in bankruptcy has boiled down to whether the agreement "runs with the land." The applicable state requirement of when an agreement runs with the land will not only determine bankruptcy disputes, but will also inform the negotiation of future gathering agreements, say Michael Connelly and David Fournier of Pepper Hamilton LLP.