Real Estate

  • March 13, 2018

    Arnold Porter, Jeffrey Zwick Steer $92M NYC Loan

    Arnold & Porter represented LoanCore Capital Credit REIT LLC in connection with its $91.92 million loan to Jeffrey Zwick & Associates PC-counseled Emerald Equity Group for its recent purchase of four Manhattan apartment buildings, according to records made public in New York on Tuesday.

  • March 13, 2018

    Mortgage Servicer Stuck With $8M Penalty In CFPB Suit

    A California federal judge on Monday stood by his judgment for the Consumer Financial Protection Bureau in its suit alleging a mortgage services company and its founder misleadingly marketed a mortgage payment program, swatting down their post-trial bids to get out from under a $7.93 million penalty and an injunction.

  • March 13, 2018

    Former Ill. Public Housing Vendor Accused Of $193K Fraud

    Illinois Attorney General Lisa Madigan and the Chicago Housing Authority announced charges against a former CHA vendor Tuesday, alleging the owner of a painting company made and deposited over $193,000 worth of fraudulent checks credited to the agency.

  • March 13, 2018

    Alaska Tribal Org Says Feds Can't Duck Land Cleanup Row

    A health care nonprofit run by an Alaskan tribe slammed the federal government's bid to escape a suit over its failure to clean up and transfer oil-contaminated land to the nonprofit, telling a D.C. federal judge Tuesday the government’s contention that the claims are time-barred runs contrary to case law.

  • March 13, 2018

    NJ Bill Would Allow Prepaid Property Taxes

    The New Jersey Senate Budget and Appropriations Committee approved a bill Tuesday that would allow taxpayers to make dedicated prepayment toward anticipated property taxes and would allow homeowners to prepay any quarterly property tax installment prior to the issuance of the tax bill for that installment.

  • March 13, 2018

    Marketing Firm Found In Default In Fla. Timeshare Exit Suit

    A Florida federal court entered a default judgment Tuesday against a marketing firm named in a suit alleging it illegally interferes in Westgate Resorts Ltd.’s contracts with timeshare owners, handing down its order after Westgate said the marketing firm’s owner refused to defend himself in the action.

  • March 13, 2018

    Investors Sue Comerica In $1.2B Woodbridge Ponzi Scheme

    Two investors in the Woodbridge Ponzi scheme have hit Comerica Bank with a proposed class action in Florida federal court, saying the bank was either negligent or “knowingly provided substantial assistance” to the suspected $1.2 billion fraud that was run almost entirely from Comerica accounts.

  • March 13, 2018

    Moody’s Dodges Bid To Revive Securities Ratings FCA Suit

    A New York federal judge on Tuesday dismissed the third amended complaint brought against Moody’s Corp. by a whistleblower alleging it violated the False Claims Act when it gamed ratings to preserve business in the lead-up to the 2008 financial crisis.

  • March 13, 2018

    High Court May Clarify Decades-Old Procedural Takings Issue

    The U.S. Supreme Court recently agreed to hear a case concerning a Pennsylvania property owner's struggle to get state and federal courts to hear her claim that the government has unconstitutionally taken value from her land, and lawyers say the decision is likely to clarify a murky procedural area that for decades has resulted in delays and additional costs for real estate projects across the country.

  • March 13, 2018

    Daily Mail Owner Nabs $205M In Sale Of Real Estate Data Biz

    Media conglomerate Daily Mail and General Trust has agreed to sell its real estate data and software business to technology-focused investment firms Silver Lake and Battery Ventures for $205 million, the company said Tuesday.

  • March 13, 2018

    Jury Convicts Ex-Cuomo Aide In Mixed Bribery Case Verdict

    A Manhattan jury on Tuesday convicted Joe Percoco, New York Gov. Andrew Cuomo's former “right-hand man” in Albany, of three of six corruption counts he faced, ending the marathon federal bribery trial with a mixed verdict for him and three co-defendants.

  • March 12, 2018

    NY's Sheldon Silver, Feds Fight To Shape 2nd Graft Trial

    Attorneys for disgraced former New York lawmaker Sheldon Silver and prosecutors traded barbs Friday ahead of his April retrial on corruption charges, with the former New York State Assembly speaker claiming that prosecutors misled jurors on the law the first time around.

  • March 12, 2018

    SEC Bars Immigration Atty, Firm For EB-5 Fraud Scheme

    The U.S. Securities and Exchange Commission on Monday imposed a full associational and penny stock bar against attorney Hui Feng and his law firm months after a California federal judge found them liable for defrauding Chinese nationals looking to obtain visas.

  • March 12, 2018

    Negligence Obvious In Elevator Injury Case, NJ Justices Told

    A New Jersey woman who sued after being struck by an elevator door in her Hackensack condominium community urged the state Supreme Court on Monday to revive her personal injury claims, telling the justices that the equipment’s alleged malfunction was evidence enough to support her negligence allegations against the condo association and others.

  • March 12, 2018

    Judge Rejects Breitburn Ch. 11 Plan But Gives Path Forward

    Breitburn Energy Partners LP moved closer to exiting bankruptcy on Monday following a recent stumble, after the debtor pledged to quickly correct a hard-fought Chapter 11 plan that was narrowly shot down by a New York bankruptcy court just days before.

  • March 12, 2018

    Bon-Ton Gets Final OK On $725M DIP, Bidding Procedures

    Bankrupt department store chain Bon-Ton Stores Inc. received final bankruptcy court approval Monday in Delaware for its $725 million debtor-in-possession financing package and its plans to receive bids for its assets as a going concern.

  • March 12, 2018

    Airbnb, HomeAway Can't Halt Santa Monica Licensing Law

    A California federal judge on Friday rejected Airbnb and HomeAway’s bid to stop enforcement of a Santa Monica ordinance requiring residents using the home-sharing websites to be licensed, rejecting arguments the law violates the California Coastal Act, the First Amendment and the federal Communications Decency Act.

  • March 12, 2018

    Developer, Neighbors Settle Fla. Condo Project Suit For $22M

    The developer of the luxurious Privé at Island Estates condo towers near Miami will accept $21.6 million from a neighboring homeowners association to avoid further litigation after he won a $26.7 million verdict for the HOA's breach of an agreement to not oppose the project, according to his attorney.

  • March 12, 2018

    Prism, Angelo Gordon Inject $120M Into NJ Apartment Plan

    New York-based real estate investment trust Angelo Gordon & Co. LP and developer Prism Capital Partners LLC unveiled a $120 million plan of investment and renovation for turning the Wonder Lofts building in Hoboken, New Jersey, into a luxury apartment building, the companies said Monday.

  • March 12, 2018

    Real Estate Rumors: Wharton, Jamestown, Elin Nordegren

    Wharton Properties is reportedly taking over REIT SL Green's $100 million investment in three New York office and retail properties, Jamestown is said to have paid $118.6 million for a Washington, D.C., apartment building and Elin Nordegren, Tiger Woods' ex-wife, has reportedly listed her North Palm Beach, Florida, home for $49.5 million.

Expert Analysis

  • Approaching Restaurant Leases As A Tenant: Part 2

    Excerpt from Lexis Practice Advisor
    Michael Kent

    When negotiating a restaurant lease, counsel for a prospective tenant must pay close attention to the process as well as to local laws and regulations, which can sometimes vary greatly with major substantive consequences, says Michael Kent of Kent Beatty & Gordon LLP in the final part of this article.

  • Opinion

    Evolving Due Process In The Digital Age

    Stephen Kane

    Because courts have not modernized as quickly as companies like Amazon, Tesla and Apple, Americans are becoming increasingly dissatisfied, but technological innovations may be able to help Americans access their due process, says Stephen Kane of FairClaims.

  • Mortgage Pricing Scrutiny Poses New Challenges For Lenders

    Jeffrey Naimon

    Recent federal and state enforcement actions indicate that, even if regulators are not setting “the right price” for a loan, they are increasingly willing to declare certain prices “wrong.” This is a troubling development for mortgage lenders, say Jeffrey Naimon and Benjamin Olson of Buckley Sandler LLP.

  • The New Limited Interest Deduction: Good For Business?

    Jennifer Tolsky

    The Tax Cuts and Jobs Act purports to lower taxes and simplify the Internal Revenue Code, but the new limitation on the deductibility of business interest seems contrary to this objective. This change will certainly cause many businesses to pause and consider whether debt financing is the best option for them, says Jennifer Tolsky of Gould & Ratner LLP.

  • Centers Of Influence Are Key To Small Law Firm Rainmaking

    Frank Carone

    In a national survey of 378 small law firms, partners ranked client referrals as the most important means of business development. Yet studies reveal that while professional services providers obtain most new clients from existing client referrals, their best new clients — the ones providing the largest pool of investable assets — overwhelmingly come from “centers of influence,” says Frank Carone, an executive partner at Abrams Fensterman.

  • Approaching Restaurant Leases As A Tenant: Part 1

    Excerpt from Lexis Practice Advisor
    Michael Kent

    When negotiating a restaurant lease, counsel for a prospective tenant must pay close attention to the process as well as to local laws and regulations, which can sometimes vary greatly with major substantive consequences, says Michael Kent of Kent Beatty & Gordon LLP.

  • No Consensus On Conspiracy Theory Of Personal Jurisdiction

    Jack Figura

    Courts are divided — and the U.S. Supreme Court has yet to rule — on whether the conspiracy theory of personal jurisdiction is proper under due process requirements. But it is reasonable to expect that sooner or later the high court will narrow the permissible reach of this theory, says John P. “Jack” Figura of Norton Rose Fulbright.

  • Coverage For Montecito Claims: Flood Or Fire?

    Meka Moore

    The destruction caused in Montecito and other areas of Southern California earlier this year appears to have been caused by flood, mudslide and mudflow, which are excluded under most property insurance policies. However, there is potential for homeowners to assert that the damage was actually caused by the Thomas fire, say Meka Moore and Jennifer Revitz of Selman Breitman LLP.

  • Feature

    From Law Firm To Newsroom: An Interview With Bob Woodruff

    Randy Maniloff

    Lawyers who have left the traditional practice for perceived greener pastures are many. But the circumstances surrounding broadcast journalist Bob Woodruff’s departure are unique. Like none I’ve ever heard, says Randy Maniloff of White and Williams LLP.

  • 6 Not-So-Obvious Considerations For Lease Term Sheets

    Daniel Suckerman

    Tenants often rely on lease negotiations to flesh out details that could be ironed out in term sheets earlier in the process, when tenants usually have stronger bargaining power. Neglecting to address these issues early on may end up causing a lot of heartache, says Daniel Suckerman of Lowenstein Sandler LLP.