Publicly traded REITs remain optimistic in the face of potential widespread cuts to federal leasing at the hands of the Department of Government Efficiency because they serve agencies performing the work the Trump administration is prioritizing, including mission-critical agencies.
Landowner Lacks Standing to Challenge Negative SEQRA Determination With Respect to Prohibition of Use On Its Own ParcelUDC’s Project Plan for Penn Station Area UpheldPlanning Board’s Grant of Site Plan and Special Permit Upheld
A defense counsel’s award of over $21,000 in attorney fees in a commercial lease dispute was upheld in February by a three-judge panel for and Illinois appellate court, finding the plaintiff did not fully establish the shortfalls of the fee petition.
Condemnation Upheld Because It Did Not Interfere With Prior Public Use
Many industry leaders, analysts, and pundits have broadly considered how the Trump administration’s and GOP-majority Congress’ plans might affect commercial real estate. The Deloitte Center for Financial Services looked at six key parts of the Tax Cuts and Jobs Act, which is set to expire by the end of this year, and the likely implications on domestic and global CRE.
The Second Circuit ended a multi-year litigation by affirming a district court’s decision that a landlord’s appeal was “moot for lack of a remedy because, although [that] court [had properly] vacated the assignment and assumption of the lease …, the lease would not revert to [the landlord under Code] §365(d)(4), and that [the landlord] had no alternative remedy.”
Given the downward pressure on commercial real estate valuations in many areas, and the increasing likelihood that owners of real property will cease paying real property taxes when there is no longer any equity, this article reports on a recent Ninth Circuit decision that reversed a decision of the bankruptcy court, affirmed by the district court, allocating the distribution of the proceeds of a sale of real property pro rata between the Internal Revenue Service on account of its tax lien, and the bankruptcy estate.
This past December, the Appellate Division, First Department struck down a key provision of New York City’s recently amended Zoning Resolution.
Yellowstone Injunction Denied Because Failure to Procure Insurance Is an Incurable DefaultLandlord Bound By Agreement Setting Market Rent At Pandemic Levels
In Tax Foreclosure Proceeding, Condominium Board Entitled to Recover Only Those Common Charges Covered By Its LienProprietary Lease Gave Co-Op Authority to Mandate Removal of Whirlpool
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