The rush to such sectors as industrial and multifamily has compressed cap rates, leaving many to reconsider how they measure value and leaning more toward internal rate of return.
In a dispute over West Side development, the First Department handed a victory to developers seeking to build a 39-story building on the block between West 65th and West 66th Street, and Columbus Avenue and Central Park West.
The Commonwealth Court of Pennsylvania recently analyzed whether the City of Philadelphia's selective reassessment in tax year 2018 of only commercial properties at current market value violated the Uniformity Clause and the Assessment Law's requirement that the City assess all properties annually at actual market value.
Restrictive Covenant Enforceable Despite Permission By Successor Landowner
Insufficient Evidence of Street Dedication
Inadequate Notice to Mortgagee Voids Tax Sale
Court Reinstates Malpractice Claim Against Lawyer Alleged to Have Solicited Transfer of Title of Residence In Foreclosure
Notice of Pendency Provides Constructive Notice
Servient Owner Not Entitled to Alter Easement Location
Adverse Possession Defeats Co-Tenants' Partition Action
A recent case in New York's First Department highlights the extreme deference appellate courts accord Board of Standards and Appeals (BSA) determinations interpreting the extraordinarily complex zoning scheme.
First in series of articles that will examine specific aspects of the COVID shift in which commercial lease negotiations are seeking protection against unlikely events. Part 1 focuses on casualty provisions.
A majority of courts consider the <i>contra proferentem</i> doctrine to be a pillar of insurance law. The doctrine requires ambiguous terms in an insurance policy to be construed against the insurer and in favor of coverage for the insured. A prominent rationale behind the doctrine is that insurance policies are usually standard-form contracts drafted entirely by insurers.
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.
Like poorly-behaved school children, new technologies and intellectual property (IP) are increasingly disrupting the M&A establishment. Cybersecurity has become the latest disruptive newcomer to the M&A party.
In an effort to minimize the release of toxic gasses from cables in the event of fire, the 2002 version of the National Electric Code ("NEC"), promulgated by the National Fire Protection Association, sets forth new guidelines requiring that abandoned cables must be removed from buildings unless they are located in metal raceways or tagged "For Future Use." While the NEC is not, in itself, binding law, most jurisdictions in the United States adopt the NEC by reference in their state or local building and fire codes. Thus, noncompliance with the recent NEC guidelines will likely mean that a building is in violation of a building or fire code. If so, the building owner may also be in breach of agreements with tenants and lenders and may be jeopardizing its fire insurance coverage. Even in jurisdictions where the 2002 NEC has not been adopted, it may be argued that the guidelines represent the standard of reasonable care and could result in tort liability for the landlord if toxic gasses from abandoned cables are emitted in a fire. With these potential liabilities in mind, this article discusses: 1) how to address the abandoned wires and cables currently located within the risers, ceilings and other areas of properties, and 2) additional considerations in the placement and removal of telecommunications cables going forward.
In a recent case from the Bankruptcy Court for the District of Delaware, In re Paragon Offshore PLC, the bankruptcy court provided guidance on whether a post-plan effective date litigation trust's distributions constituted disbursements subject to the U.S. Trustee fee "tax."
