Real Estate

Seven Ways the CARES Act Impacts the Real Estate IndustryPosted on 06-18-2020

By: Brian A. Blitz , Craig L. Brown , Stephen B. Land , Edward Baker , and Sang H. Lee , Duval & Stachenfeld LLP The coronavirus, also known as COVID-19, has impacted, and will continue to impact, the health of Americans and the strength of our economy for the foreseeable future. On March 27, 2020... Read More

Force Majeure Clauses in the Face of COVID-19: Commercial Leasing GuidancePosted on 06-18-2020

By: Deborah Yoon Jones , Alston & Bird LLP This article explains what a force majeure clause is and how and under what circumstances a force majeure clause in a commercial lease may be invoked due to the novel coronavirus (COVID-19). THE ARTICLE ADDRESSES THE LIKELIHOOD THAT A FORCE majeure clause... Read More

Technology will be Key to Real Estate RecoveryPosted on 06-17-2020

By: Blake Liggio , Danielle Lauzon , John Mutkoski , and Andy Sucof , Goodwin Procter LLP IT IS NOW SEVERAL MONTHS SINCE THE COVID-19 HEALTH crisis emerged in the United States, the immediate impacts on the PropTech industry have crystallized. Real estate operations have changed in fundamental ways—office... Read More

Navigating Coronavirus: A Guide for REIT General CounselPosted on 04-07-2020

By: Evan Hudson , Jeffrey S. Lowenthal , Jeffrey D. Uffner , and Michelle M. , Jewett Stroock & Stroock & Lavan The World Health Organization declared COVID-19 a pandemic, then markets continued a steep decline, as the coronavirus morphed from a public health crisis to a financial black swan... Read More

Return of Yellowstone: The New York State Legislature Revives the Yellowstone InjunctionPosted on 03-11-2020

By: Ronald S. Greenberg , Natan Hamerman , Daniel Lennard , and Zachary C. Naidich , Kramer Levin Naftais & Frankel LLP FOR MORE THAN 50 YEARS, A COMMERCIAL TENANT IN New York that was threatened with eviction could count on obtaining a Yellowstone injunction tolling its time to cure alleged lease... Read More

Americans with Disabilities Act: Guidance for Commercial Real Estate OwnersPosted on 03-09-2020

By: Jonathan R. Mook, DiMuroGinsberg, P.C. and Howard (Skip) Maginniss, MAGINNISS + DEL NINNO ARCHITECTS One goal of the Americans with Disabilities Act of 1990 (the ADA or the Act) is to ensure that commercial facilities and public accommodations are accessible to persons with disabilities. As a result... Read More

Guidance for Real Estate Developers on Complying with the Endangered Species ActPosted on 01-15-2020

By: Parker Moore and Katrina Krebs , Beveridge & Diamond PC This article provides an overview of the Endangered Species Act (ESA) 1 and discusses the obligations of real estate developers and property owners with respect to the ESA. CONGRESS ENACTED THE ESA IN 1973 TO PROTECT AND recover imperiled... Read More

Representing Foreign Buyers and Sellers in United States Real Estate TransactionsPosted on 08-26-2019

By: S.H. Spencer Compton , First American Title Insurance Company and Diane Schottenstein , Schottenstein Law Today, many parts of the world are unsettled due to a variety of economic, political, and/ or environmental issues. Such unrest can lead to rapid inflation, which can devalue local currencies... Read More

Economic Advantages for Existing Property Owners in Opportunity ZonesPosted on 06-17-2019

By: Jessica Millett , Duval & Stachenfeld, LLP AS KNOWLEDGE OF THE OPPORTUNITY ZONE PROGRAM (the OZ Program), which was tucked away inside the 2017 Tax Reform package, 1 trickled out to the real estate community, ears began to perk up all over the country. As tax professionals parsed through the... Read More

Wetlands Regulations: Considerations for Project DevelopersPosted on 12-18-2018

By: Mark A. Chertok and Elizabeth Knauer This article discusses considerations for developers contemplating the purchase or development of real property that contains or is likely to contain regulated wetlands. The presence of regulated wetlands on a site proposed for development can often present... Read More

Pros and Cons of Shared Space AgreementsPosted on 09-12-2018

By: Daniel A. Suckerman and Stacey C. Tyler , Lowenstein Sandler LLP With co-working spaces such as WeWork growing in popularity, real estate attorneys are frequently called upon to help clients navigate the pitfalls of shared space agreements. This article discusses shared space agreements generally... Read More

Insuring Construction Risks Through Commercial General Liability PoliciesPosted on 06-22-2018

By: Ellen M. Chapelle , Gould & Ratner LLP In most construction projects, the general contractor traditionally takes control of the site and is responsible for its means and methods of construction, and, therefore, should bear primary liability for damage arising from construction operations. ... Read More

The Impact of E-commerce on Retail Leases and Lease Exit StrategiesPosted on 12-19-2017

By: S.H. Spencer Compton and Diane Schottenstein EVERY REAL ESTATE INDUSTRY HEADLINE TODAY SEEMS to trumpet the decline of retail leasing and the advent of e-commerce: the so-called “Amazon Effect.” 1 One recent article recounts the impact of Amazon on traditional retailers such as Walmart... Read More

Using Mediation to Resolve Construction DisputesPosted on 09-27-2017

By: Leonard M. Kessler LenKesslerADR Using Mediation to Resolve Construction Disputes Construction projects often take years to complete, involve layers of contractors and subcontractors, and employ hundreds, if not thousands, of workers. Efficient conflict resolution is important in the construction... Read More

Taxation of New York City Real PropertyPosted on 06-07-2017

by Steven Tishco , Marcus & Pollack, LLP Introduction This article provides an overview of real estate taxation in New York City (the “City”) including (i) the process by which the City assesses real property, (ii) how property owners challenge the City’s assessments, (iii)... Read More

The Bona Fide Prospective Purchaser Defense in BankruptcyPosted on 06-07-2017

By: Nicholas C. Rigano , Esq. RIGANO LLC Under the Comprehensive Environmental Response, Compensation, and Liability Act ( 42 U.S.C. § 9601 et seq. ) (CERCLA), current owners and operators of real property are strictly liable for costs to clean up environmental contamination regardless of whether... Read More

Real Estate Due Diligence in Corporate and M&A TransactionsPosted on 04-12-2017

By: Joseph M. Marger , Reed Smith LLP. In almost every asset purchase, stock purchase, and merger transaction (generally referred to in this article as M&A transactions), the purchaser will acquire an ownership or leasehold interest in at least one real estate asset. However, the real estate asset... Read More

Lender Liability Under Environmental Laws in Real Estate TransactionsPosted on 02-09-2017

By: Annemargaret Connolly and Matthew D. Morton , Weil, Gotshal & Manges LLP. Why should real estate lenders and other secured creditors concern themselves with known and potential environmental liabilities and requirements associated with their loan portfolios? After all, environmental liabilities... Read More

A Briefing on Emerging Issues Impacting Transactional Practice - Winter 2017Posted on 02-09-2017

FEDERAL COURT FAST TRACKS REVIEW OF RULING BLOCKING IMPLEMENTATION OF OVERTIME REGULATIONS THE FIFTH CIRCUIT COURT OF APPEALS ISSUED A BRIEF order December 8 granting expedited review of a November 22 ruling by a federal judge in the Eastern District of Texas preliminarily enjoining implementation... Read More

Understanding Real Estate Joint VenturesPosted on 09-13-2016

By: Thomas G. Maira , Reed Smith LLP. As funds raised in the 2006–2008 heyday of private equity reach the ends of their 10 year terms, there has been a surge of restructurings of those funds utilizing a stapled secondarystructure. The widely publicized $1.2 billion restructuring in March 2016... Read More

A Briefing on Emerging Issues Impacting Transactional Practice - Fall 2016Posted on 09-13-2016

STUDY ON INJECTION WELL INDUCED EARTHQUAKES THE U.S. GEOLOGICAL SURVEY (USGS) RECENTLY released its short-term forecast for seismic activity. For the first time, it includes a discussion of “Induced Earthquakes.” The study, which comes after a significant hike in the incidence of earthquakes... Read More

Investing in U.S. Real Estate by Qualified Foreign Pension FundsPosted on 06-03-2016

By: Scott L. Semer , Torys LLP. FOR OVER 30 YEARS, NON-U.S. INDIVIDUALS AND ENTITIES who invest in U.S. real estate have been subject to tax both on operating income and gains realized upon exiting the investment. There have been limited exceptions, primarily for gains earned by shareholders holding... Read More

A Briefing on Emerging Issues Impacting Transactional Practice - Summer 2016Posted on 06-03-2016

SEVENTEEN STATE “NEW ENERGY FUTURE” COALITION FORMED GOVERNOR ANDREW M. CUOMO AND 16 OTHER GOVERNORS signed the Governors’ Accord for a New Energy Future. The accord describes six shared goals, diversification of energy generation and expansion of clean energy sources, modernization... Read More

Introduction to Real Property 1031 ExchangesPosted on 03-11-2016

By: Spencer Compton , First American Title Insurance Company LEXIS PRACTICE ADVISOR RESEARCH PATH: Real Estate > Commercial Purchase and Sales > 1031 Exchanges > Practice Notes Section 1031 of the Internal Revenue Code provides that no gain or loss will be recognized when property held... Read More

A Briefing on Emerging Issues Impacting Transactional Practice 2016Posted on 03-11-2016

HIGH-IMPACT EVENT TO GLOBAL FINANCIAL SYSTEM MORE LIKELY, PREDICT FINANCIAL PROFESSIONALS ACCORDING TO ONE MEASURE, RECENT WORLD EVENTS have financial professionals unnerved. Forty-five percent of those surveyed by the Depository Trust & Clearing Corporation (DTCC) say the probability of a “high... Read More