News & Publications

On April 18, 2019, the New York City Council passed legislation, referred to as the Climate Mobilization Act, which includes bills designed to aggressively reduce carbon emissions produced by New York City's buildings. According to a study conducted by the New York City Mayor's Office, buildings currently account for almost 70% of the city's green-house gas emissions. The bills set heavy fines for building owners' non-compliance. Notwithstanding strong objections from the real estate industry, the [...]

The Supreme Court recently issued its long-awaited ruling in Knick v. Township of Scott, concluding that a plaintiff alleging that local governments have violated the Takings Clause under the Fifth Amendment may seek relief directly in federal court, as a constitutional violation occurs at the time of the taking without payment, even if just compensation is subsequently paid.1 In the 5-4 majority opinion, the Court overruled, in part, Williamson County Regional Planning Comm'n v. Hamilton Bank of Johnson [...]

As has been announced, the cost of real estate transactions involving commercial property located in the District of Columbia will increase significantly as of October 1, 2019, but not necessarily for multifamily properties. On July 22, 2019, the D.C. City Council adopted Bill 23-209 "to enact and amend provisions of law necessary to support the Fiscal Year 2020 budget" (the "Bill") which budget was approved pursuant to the Fiscal Year 2020 Local Budget Act of [...]