Financier Carl Icahn has filed a lawsuit against Rialto Capital Advisors, claiming the Miami company had "placed its own interests ahead" of those of CMBS investors in the trust that held what had been a $73 million loan against the Prizm Outlets...
As legislators begin to shift their focus to the upcoming midterm Congressional elections, regulators have become more influential in...
When the New York State legislature adjourned earlier this month, a significant tax incentive for developers of affordable housing in New York City left town with them The 421-a tax abatement program expires next week, and state legislators failed...
Nelson Partners Student Housing LLC, which three years ago had paid $11955 million for the 212-unit SkyLoft Austin student-housing property near the University of Texas-Austin campus, has agreed to pay investors in the property $50 million to settle...
James Im, a former CMBS trader with Nomura Securities who five years ago was charged by the SEC with lying to bond investors in order to inflate the company’s profits, on Friday was exonerated by a jury The jury finding was reported first by...
Commercial Real Estate Direct Staff Report Efforts to take the 1,639-room Palmer House Hilton hotel in Chicago through foreclosure are progressing The 97-year-old hotel, at 17 East Monroe St, is encumbered by a total of $4275 million of debt,...
Brooklyn Paper The Legal Aid Society is suing the owner of 111 Livingston St, a 434,000-square-foot office building in Brooklyn, NY, alleging the property is infested with mold The organization is seeking $2 million in damages and is looking to get...
Crain’s New York Business New York City Mayor Eric Adams’ preliminary budget estimates that the value commercial buildings in the city is about $301 billion for the upcoming fiscal year, ending September 2023 Property values are...
The Real Deal New York Mayor Eric Adams said he would support a freeze on rents at properties subject to the city’s rent stabilization rules, if its Rent Guidelines Board also calls for a freeze The statement by Adams, who was sworn in last...
The Real Deal As New York City’s 421a property-tax exemption program reaches its June 15 sunset, the governor of New York State, Kathy Hochul, is proposing a replacement that would include mandates for certain “green” building...
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