Residential
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April 02, 2025
Jurny AI Platform Eyes Growth With New Partners, Hotel Deal
Jurny Inc., which has developed an AI-powered property management platform that it says can significantly increase operational efficiency for the hospitality industry, announced it has secured strategic investments to help support an aggressive expansion.
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April 02, 2025
Trump Unveils New Tariffs On Dozens Of Countries
President Donald Trump announced sweeping tariffs on major trading partners Wednesday, including a 10% rate on all goods entering the U.S. to take effect later this week, in a "declaration of economic independence" he says will jump-start domestic industry and production.
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April 02, 2025
Opendoor To Settle Shareholders' Real Estate Tech Suit
Investors in real estate firm Opendoor Technologies Inc. said in a court filing Wednesday that they've struck a deal to end a lawsuit accusing the company of overhyping its pricing algorithm software prior to going public in a reverse merger with a special-purpose acquisition company.
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April 02, 2025
Fla. High Court Told Condo's Irma Claim Redo Lacked Key Info
An insurance company told the Florida Supreme Court on Wednesday that a Miami condominium's reopened claim for damage caused by Hurricane Irma wasn't sufficient to trigger a supplemental claim, arguing that state law required additional information regarding the initial loss.
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April 02, 2025
New EB-5 Investors Rushing In Amid 'Gold Card' Uncertainty
Questions about the future of the EB-5 visa program have ushered in a "rush" of investors amid concerns that the minimum investment threshold could rise roughly five-fold under the Trump administration's so-called Gold Card program.
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April 02, 2025
2 Firms Rep $108M NYC Condo Loans
The owner of a luxury mixed-use condominium in the Brooklyn borough of New York borrowed two loans worth more than $108 million combined in separate deals guided by King & Spalding LLP and Brownstein Hyatt Farber Schreck LLP, according to official property records.
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April 02, 2025
Northwind, BHI Fund $170M NYC Luxury Condo Project
Northwind Group and the U.S. arm of Bank Hapoalim BM provided a $170 million construction loan for Nortco Development's 36-unit luxury condominium development in New York City's Upper West Side, the lenders announced.
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April 02, 2025
Miami Greenlights $3B Affordable Housing Project
The Miami-Dade County Commission voted unanimously to grant final approval for a $3 billion mixed-used development, which will span 63 acres and contain 5,700 affordable and workforce housing units.
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April 02, 2025
Colorado AG Cuts Deal To Unwind Exclusive Broker Contracts
A brokerage company in Colorado state court agreed to release 171 homeowners from exclusive listing agreements that are illegal under a 2023 state law, in a deal with prosecutors approved Wednesday.
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April 02, 2025
Tokenization Exec Sees Ample Possibilities For Real Estate
Small and large investors who seek exposure to real estate via fractional purchases are broadening their scope to include less-common asset classes, the founder of tokenization platform EstateX told Law360 Real Estate Authority in a recent interview.
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April 02, 2025
Eric Adams Case Dismissed As Judge Rebukes DOJ 'Bargain'
A Manhattan federal judge on Wednesday permanently dismissed corruption charges against New York City Mayor Eric Adams, heeding advice from court-appointed counsel Paul Clement even as he gave credence to district prosecutors' claims of a quid pro quo between Adams and Trump administration officials in the Justice Department.
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April 01, 2025
Ex-Microsoft Manager Says He Was Fired For Whistleblowing
A former project manager for Microsoft says he was fired after flagging compliance issues and misconduct, including being forced to leak sensitive data from client Freddie Mac's workforce platform and being asked to falsify a report to cover up fraud, according to a suit filed Monday in Texas federal court.
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April 01, 2025
Ill. Court Trims Deutsche Bank Housing Maintenance FHA Suit
An Illinois federal judge has trimmed Fair Housing Act claims from a coalition's suit alleging Deutsche Bank neglected foreclosed properties in minority neighborhoods, saying he was unconvinced the alleged FHA violations caused the racial disparities in maintenance work.
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April 01, 2025
Broker Must Face Mortgage Co.'s Claims It Worked With Rivals
A mortgage broker cannot escape a lawsuit from United Wholesale Mortgage alleging the broker breached a contract by sourcing loans to United's top competitors despite agreeing not to, a Michigan federal judge said Monday in finding the new terms and the way they were enacted were allowed under state law.Â
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April 01, 2025
Multifamily CMBS Delinquency Jumps In March, Report Shows
The delinquency rate for commercial mortgage-backed securities connected to multifamily properties is the highest it's been since 2015, according to a Tuesday report from business research firm Trepp.
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April 01, 2025
Paul Weiss Guides Brookfield's Majority Stake In Mortgage Biz
Brookfield Asset Management, advised by Paul Weiss Rifkind Wharton & Garrison LLP, has acquired a majority stake in Angel Oak Cos., led by Paul Hastings LLP, in a deal that brings the mortgage specialist into its $317 billion credit business, the companies said Tuesday.
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April 01, 2025
NY Judge Tosses Rent Assistance Bias Class Action
The New York City Housing Authority and the state government escaped race discrimination claims from a proposed class of Black, Hispanic and Latino tenants, after a New York federal judge ruled that the plaintiffs lacked standing.
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April 01, 2025
5 Firms Guide $215M Financing Deal For Miami Condo Tower
PMG, Lion Development Group and Marc Roberts Companies have obtained $215 million in construction financing for their 44-story, 659-unit downtown Miami condominium tower project with help from five law firms, the companies announced Tuesday.
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April 01, 2025
Catching Up With New Bankruptcy Case Action
Restaurant chain Hooters launched a Chapter 11 case with about $380 million in debt, saying it has reached a deal to shed its company-owned restaurants and trade debt for equity. Gastropub chain Bar Louie filed for bankruptcy, listing nearly $70 million of debt, about five years after its creditors took over the business during a previous bankruptcy. And a sustainability-focused financial services company filed for Chapter 11 less than a month after the firm's founder was arrested and charged with fraud.
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April 01, 2025
Ohio Justices Won't Hear 3rd-Party Property Tax Appeal Case
The Ohio Supreme Court declined Tuesday to hear a challenge to the constitutionality of third-party property tax appeal restrictions, leaving in place an appellate court's dismissal of the matter.
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April 01, 2025
Homeowners Premiums Rose 24% In 3 Years, Report Says
Average homeowners insurance premiums in the United States rose by 24% from 2021 to 2024, a national crisis that is putting pressure on Americans with mortgage burdens, according to a report issued Tuesday by the Consumer Federation of America.
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April 01, 2025
Idaho Boosts Property Tax Breaks By $100M
Idaho will increase tax breaks for property owners in the state starting this year and every year thereafter under a bill signed by the governor.
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March 31, 2025
NYC Fights Group's Claim Of Biased Property Tax System
An organization that says New York City's property tax regime discriminates against minorities can't proceed with its claim, the city told the state appellate court, saying that further discovery or trial is needed.
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March 31, 2025
6th Circ. Affirms County's Foreclosed Property Proceeds Win
The Sixth Circuit sided with a Michigan county Friday in a resident's suit alleging the decision to withhold surplus proceeds from the tax foreclosure sale of her home was an unconstitutional taking, affirming the constitutionality of a process for claiming proceeds that she failed to follow.
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March 31, 2025
Feds' Race Bias Suit Should Target Appraiser, Rocket Says
Rocket Mortgage LLC has urged a Colorado federal court to dismiss the federal government's race discrimination suit against the mortgage lender, an appraisal management company and an appraiser, arguing it is not responsible for what the appraiser purportedly did.
Expert Analysis
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NY Shouldn't Pair 421-a Restoration And Good Cause Eviction
The good cause eviction system of rent control should not be imposed in New York, nor should its legislation be tied to renewal of the 421-a tax abatement program, which New York City desperately needs, says Alexander Lycoyannis at Holland & Knight.
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Setting The Stage For High Court BofA Escrow Interest Case
Dori Bailey and Curtis Johnson at Bond Schoeneck examine relevant legislation and case law dating back 200 years ahead of oral arguments at the U.S. Supreme Court on Tuesday in Cantero v. Bank of America, the outcome of which will determine whether state laws governing mortgage escrow accounts can be enforced against national banks.
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DC's Housing Tax Break Proposal: What's In It, What's Missing
Proposed Washington, D.C., rules implementing the Housing in Downtown Tax Abatement program — for commercial property owners who convert properties into residential housing — thoroughly explain the process for submitting an application, but do not provide sufficient detail regarding the actual dollar value of the abatements, says Daniel Miktus at Akerman.
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Assessing The Future Of Colorado's Economic Loss Rule
The Colorado Supreme Court's decision to review a state appellate court's ruling in Mid-Century Insurance Co. v. HIVE Construction will significantly influence the future of Colorado's economic loss rule, with high stakes for the cost of doing business in the state, says David Holman at Crisham & Holman.
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How Recent Laws Affect Foreign Purchase Of US Real Estate
Early diligence is imperative for U.S. real estate transactions involving foreign actors, including analysis of federal and state foreign investment laws implicated by the transaction, depending on the property's nature and location, the parties' citizenship, and the transaction's structure, say Massimo D’Angelo and Anthony Rapa at Blank Rome.
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What Shareholder Approval Rule Changes Mean For Cos.
The U.S. Securities and Exchange Commission recently approved proposed rule changes to shareholder requirements by the New York Stock Exchange, an approval that will benefit listed companies in many ways, including by making it easier to raise capital from passive investors, say attorneys at Baker Botts.
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High Court Case Could Reshape Local Development Fees
If last month's oral arguments are any indication of how the U.S. Supreme Court will rule in Sheetz v. County of El Dorado, it's unlikely the justices will hold that the essential nexus and rough proportionality tests under the cases of Nollan, Dolan and Koontz apply to legislative exactions, but a sweeping decision would still be the natural progression in the line of cases giving property owners takings claims, says Phillip Babich at Reed Smith.
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White Collar Plea Deals Are Rarely 'Knowing' And 'Voluntary'
Because prosecutors are not required to disclose exculpatory evidence during plea negotiations, white collar defendants often enter into plea deals that don’t meet the U.S. Supreme Court’s “knowing” and “voluntary” standard for trials — but individual courts and solutions judges could rectify the issue, says Sara Kropf at Kropf Moseley.
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How 2 ĂŰĚŇĘÓƵ Advisory Opinions Affect Reporting Agencies
The Consumer Financial Protection Bureau issued two advisory opinions last month that demonstrate a continued commitment to address inaccuracies in background check reports and consumer file disclosures through broad interpretation of the Fair Credit Reporting Act, expanding on a coordinated federal agency effort, say attorneys at Cooley.
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Algorithmic Pricing Programs Caught In Antitrust Crosshairs
The Justice Department's investigation into software company RealPage follows a host of federal antitrust cases alleging that property owners and casino hotel operators use the same proprietary software programs to fix and maintain pricing, which means algorithmic pricing programs are considered a key price-fixing tool in the digital age, say attorneys at Ballard Spahr.
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A Welcome Turning Of The Page For Residential Real Estate
After one of the most challenging years on record for residential real estate, 2024 will likely be a time of transition to a stabler business climate, as sellers lose some of their excess bargaining power and the pace of sales picks up, says Marty Green at Polunsky Beitel.
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Strict Duty To Indemnify Ruling Bucks Recent Trend
A South Carolina federal court's recent decision that it lacked subject matter jurisdiction to decide an insurer's duty to indemnify prior to the finding of insured liability sharply diverges from the more nuanced or multipronged standards established by multiple circuit courts, says Richard Mason at MasonADR.
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Ill. Insurance Ruling Helps Developers, Community Orgs. Alike
The Illinois Supreme Court's decision in Acuity v. M/I Homes of Chicago, holding that commercial general liability policy exceptions did not prevent coverage for damage caused by faulty workmanship, will bring more potential insurance coverage for real estate developers and, in turn, larger payouts when community organizations sue them, say Howard Dakoff and Suzanne Karbarz Rovner at Levenfeld Pearlstein.