Subject: Legal Issues (LEGL)
Carl Icahn Sues Rialto Over Handling of Retail Property Near Las Vegas
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 ...
Federal Policy in 2022 Has Shifted to Regulators
As legislators begin to shift their focus to the upcoming midterm Congressional elections, regulators have become more influential in policy-making.
Expiration of N.Y. Tax Benefit Could Slow Development of Affordable Housing
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 to ...
Nelson Partners Settles Fraud Claim, Expected to Sell Properties
Nelson Partners Student Housing LLC, which three years ago had paid $119.55 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 fraud claims ...
Former Nomura CMBS Trader James Im Exonerated of Lying to Clients in Jury Trial
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 ...
Summary Judgment Filed in Effort by Lender to Take Chicago’s Palmer House Hilton
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 $427.5 million of debt, including ...
Legal Aid Society Aims to End Lease at 111 Livingston Ave. in Brooklyn, N.Y.
Brooklyn Paper The Legal Aid Society is suing the owner of 111 Livingston St., a 434,000-square-foot office building in Brooklyn, N.Y., alleging the property is infested with mold. The organization is seeking $2 million in damages and is looking to ...
NYC Says Commercial Properties Retained 92 Percent of Value During Pandemic
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 estimated solely for budgeting ...
NYC Mayor Gives Conditional Support for Freezing Stabilized Rents
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 ...
New York Governor to Propose Fine-Tuning Expiring 421a Tax Exemption Program
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 systems and greater affordability. ...
About
Commercial Real Estate Direct is the only source -- in print or otherwise -- that keeps close tabs on the entire real estate capital markets industry. It provides up-to-date market intelligence on the mortgage business, equity raising, investment sales and CMBS.
Subscribe to our Weekly Newsletter!
