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DIRECTORY AND CAPABILITIES

Manhattan Home Prices Jump to a Record as Buyers Compete

April 02, 2014 — Oshrat Carmiel – Bloomberg
Manhattan apartment sales surged in the busiest start to a year since 2007, setting price records as buyers vied for a limited supply of homes for sale and deals were completed at new high-end developments. Sales of co-ops and condominiums in the first quarter jumped 35 percent from a year earlier to 3,307, according to a report today from appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate. The median price climbed 19 percent to $972,428, while the the average price per square foot rose 24 percent to $1,363, the highest in 25 years of record-keeping. Price gains are accelerating in a market where the inventory of homes for sale plummeted to record lows three times in the past year as buyer demand increased. Of the deals completed in the first quarter, 38 percent were at or above the asking price, up from 17 percent a year earlier, according to Jonathan Miller, president of New York-based Miller Samuel. Read the court decision
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Reprinted courtesy of Oshrat Carmiel, Bloomberg
Ms. Carmiel may be contacted at ocarmiel1@bloomberg.net

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SunEdison Gets Shinsei Bank Funding for Japan Solar Power Plant

March 12, 2015 — Ehren Goossens – Bloomberg
(Bloomberg) -- SunEdison Inc., a U.S. solar developer, got financing from Tokyo-based Shinsei Bank Ltd. for a large-scale project in the country. The 9.6-megawatt Tarumizu project on the southern Japanese island of Kyushu will power about 3,000 homes, Maryland Heights, Missouri-based SunEdison said Wednesday in a statement. The project is under construction and expected to be completed in September. Financial details weren’t disclosed. Read the court decision
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Reprinted courtesy of Ehren Goossens, Bloomberg
Mr. Goossens may be contacted at egoossens1@bloomberg.net

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There’s the 5 Second Rule, But Have You Heard of the 5 Year Rule?

April 23, 2024 — Garret Murai - California Construction Law Blog
They’re called deadlines for a reason. Usually, because something really bad could happen if you fail to meet the deadline. For those in the construction industry, you probably aware of the “deadline” to bring a claim for latent defects (10 years from substantial completion); the deadline to file suit to foreclose on a mechanics lien (90 days from the date of recording the mechanics lien), and the deadline for serving a preliminary notice (generally, 20 days from the date labor and/or materials are first furnished). Well, here’s another deadline: Under Code of Civil Procedure section 585.310, you have 5 years after a complaint is filed to bring a case to trial, absent the court granting relief. I could leave it at that, but in the next case, Oswald v. Landmark Builders, Inc., 97 Cal.App.5th 240 (2023), was too interesting to pass up. The Oswald Case On June 28, 2016, homeowners Jack Oswald and Anne Seley sued their general contractor and its subcontractors alleging construction defects at their home. Answers and cross-complaints were filed and on February 2017 the trial court determined the case to be complex and appointed a discovery master. A discovery master, for those who may be unfamiliar, is usually a retired judge or third-party lawyer appointed by a court to oversee discovery in a case such as written discovery, depositions, site inspections, etc. Read the court decision
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Reprinted courtesy of Garret Murai, Nomos LLP
Mr. Murai may be contacted at gmurai@nomosllp.com

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Citigroup Reaches $1.13 Billion Pact Over Mortgage Bonds

April 09, 2014 — Dakin Campbell – Bloomberg
Citigroup Inc. (C) agreed to pay $1.13 billion to settle claims from mortgage-bond investors as it seeks to curb liabilities tied to the financial crisis. It took a $100 million first-quarter charge. The 68 securitization trusts covered by the settlement issued a combined $59.4 billion in mortgage-backed securities from 2005 to 2008, the New York-based bank said yesterday in a statement. The agreement covers 18 investors represented by Gibbs & Bruns LLP and trustees have until June 30 to accept the deal, the law firm said in a separate statement. The accord must be approved by the Federal Housing Finance Agency. Citigroup, the third-biggest U.S. bank, is resolving a portion of liabilities tied to mortgages it packaged and sold to investors in the run-up to the 2008 crisis. JPMorgan Chase & Co. (JPM) and Bank of America Corp. (BAC), the two largest U.S. lenders, previously agreed to multibillion-dollar settlements with Gibbs & Bruns clients. Read the court decision
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Reprinted courtesy of Dakin Campbell, Bloomberg
Mr. Campbell may be contacted at dcampbell27@bloomberg.net

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Remediation Work Caused by Installation of Defective Tiles Not Covered

August 19, 2015 — Tred R. Eyerly – Insurance Law Hawaii
The federal district court applied California law to find there was no coverage when the subcontractor was sued for broken tiles on a project. Am. Home Assur. Co. v. SMG Stone Co., 2015 U.S. Dist. LEXIS 75910 (N. D. Cal. June 11, 2015). The subcontractor installed stone floor tiles at the project. The developer discovered fractures in some of the tiles. The fractured tiles were removed and replaced. This remediation process required the removal and replacement of portions of drywall and concrete subfloor installed by other subcontractors. The developer sued the subcontractor, who tendered the defense to its insurer. The insurer denied coverage and filed for a declaratory judgment that there was no coverage for the floor tile fracture claims. Read the court decision
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Reprinted courtesy of Tred R. Eyerly, Insurance Law Hawaii
Mr. Eyerly may be contacted at te@hawaiilawyer.com

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Jury Could Have Found That Scissor Lift Manufacturer Should Have Included “Better” Safety Features

January 02, 2024 — Garret Murai - California Construction Law Blog
A few years ago I listened to an NPR segment called “What Can Kids Learn by Doing Dangerous Things?” It was about a summer program called the Tinkering School where kids can learn to build things, using tools of course, including power tools. The founder of the program, Gever Tulley, also wrote a book entitled 50 Dangerous Things (You Should Let Your Children Do), in which he argued that while well-intentioned, children today are overly protected, and that giving children exposure to “slightly” dangerous things can help foster independence, responsibility, and problem-solving as well as a healthy dose of caution. The plaintiff in the next case might have benefitted from that program. In Camacho v. JLG Industries Inc., 93 Cal.App.5th 809 (2023), the Court of Appeals examined whether the manufacturer of a scissor lift should have incorporated “better” safety features when a construction worker fell from the lift. Read the court decision
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Reprinted courtesy of Garret Murai, Nomos LLP
Mr. Murai may be contacted at gmurai@nomosllp.com

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Real Estate & Construction News Round-Up (01/11/23) – Construction Tech, Housing Market Confidence, and Decarbonization

February 01, 2023 — Pillsbury's Construction & Real Estate Law Team - Gravel2Gavel Construction & Real Estate Law Blog
To kick of 2023, this week’s news round-up dives into contech inventions projected to impact the industry, shifting home prices and buyer confidence, investors prioritizing decarbonization efforts, and more.

• From holograms to robots, these 6 contech innovations are projected to tackle some of construction’s toughest issues. (Robyn Griggs Lawrence, Construction Dive)
• Manufacturing and data center projects will support the U.S. construction industry as work begins to slow on retail projects, warehouses and offices. (Sebastian Obando, Construction Dive)
• Despite macroeconomic headwinds, doubling down on decarbonization efforts is projected to be top-of-mind for investors and occupiers in 2023. (JLL)

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Reprinted courtesy of Pillsbury's Construction & Real Estate Law Team

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Serial ADA Lawsuits Targeting Small Business Owners

February 04, 2014 — Beverley BevenFlorez-CDJ STAFF
Jennifer Wadsworth reports in the San Jose Inside that small business owners in the South Bay area of California have been targeted for ADA Compliance lawsuits. Specifically, John Ho, “a wheelchair-bound paraplegic from the Southern California town of Rosemead” has hit close to “80 businesses in San Jose and more throughout South Bay” with ADA complaints. Another resident, Cecil Shaw has also “filed hundreds of lawsuits in federal court through a San Jose-based law firm alleging similar violations.” According to Wadsworth, these lawsuits have “become a multimillion-dollar industry.” Communities are often hit with “a hundred or more” lawsuits at a time: “Law firms team up with disabled clients to inspect businesses for compliance issues, and then sue in droves, expecting half or more defendants to settle out of court.” Niccandro Barrita, owner of one of four La Victoria Mexican Restaurants in South Bay, lost an ADA lawsuit. “I thought because when the building was remodeled in 1996 and the city waived the lift requirement that I was in the clear. But that wasn’t the case,” he told San Jose Inside. Barrita claims to have paid $900,000 in attorney fees. His advice to other owners is to be proactive: “Don’t rely on someone to point out a deficiency to you. Find out for yourself if you’re compliant.” Read the court decision
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