Cambridge Massachusetts Building Expert Directory

He Turned Wall Street Offices Into Homes. Now He Vows to Remake New York

February 14, 2023 — Natalie Wong - Bloomberg
In the lobby of a downtown Manhattan tower, Nathan Berman pauses to admire the marble walls and terrazzo floors. A real estate developer, he has a taste for old-world detail, like the fur lining in his navy overcoat, accented with a polka-dot scarf. It’s rush hour in the heart of Wall Street, and Berman’s at its white-hot center, 55 Broad St., former offices of Goldman Sachs Group Inc. But, like many buildings in the age of working from home, this onetime hub of capitalism is largely empty. Many of Berman’s rivals would be discouraged. He’s thrilled. Berman transforms vacant office buildings into top-of-the-line apartments. At 63, he’s the king of office conversion. From the 23rd floor of 55 Broad, Berman can make out five of his projects in the bright December sunlight. They include 20 Broad, a midcentury modern building that had outlived its usefulness as the onetime headquarters of the New York Stock Exchange. Today, along with apartments, it features a rooftop terrace with views of the harbor, a theater, a yoga studio, a game room and a fitness center. Gazing into the distance, Berman points toward another of his alchemies: a former Tribeca bookbindery where Oscar-winning actor Jennifer Lawrence and pop star Harry Styles have owned homes. Read the court decision
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Reprinted courtesy of Natalie Wong, Bloomberg

Insurer's Quote on Coverage for Theft by Hacker Creates Issue of Fact

December 16, 2019 — Tred R. Eyerly - Insurance Law Hawaii
The appellate court found that the insurer's quote created an issue of fact on whether loss caused by a computer hacker would be covered. Metal Pro Roofing, LLC v. Cincinnati Ins. Co., 2019 Ind. App. LEXIS 355 (Ind. Ct. App. Aug. 9, 2019). The insureds, Metal Pro Roofing, LLC and Cornett Restoration, LLC ("LLC's") discovered that their bank accounts had been hacked and over $78,000 stolen. They submitted claims to their insurer, Cincinnati. Coverage was denied, and the LLCs filed suit. Cross-motions for summary judgment were filed, and the court granted summary judgment to Cincinnati. The "Forgery or Alternation" coverage applied to losses resulting directly from the "'forgery' or alteration of checks, drafts, promissory notes, or similar written promises, order or directions to pay a sum of money." "Forgery" was defined as "the signing of the name of another person or organization with the intent to deceive." The LLCs did not cite any evidence that the hacker "signed" anything, let alone that they signed "the name of another person or organization." Read the court decision
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Reprinted courtesy of Tred R. Eyerly, Damon Key Leong Kupchak Hastert
Mr. Eyerly may be contacted at te@hawaiilawyer.com

Colorado Passes Construction Defect Reform Bill

June 05, 2017 — David Suggs – Bert L. Howe & Associates, Inc.
According to Daniel E. Evans of Gordon & Rees Scully Mansukhani, Colorado’s state legislature recently passed a bill “designed to reduce litigation risk associated with building condos by requiring a majority of actual condo unit owners, as opposed to a majority of the HOA board members, to approve the filing of a lawsuit over construction defects.” Evans stated that this “legislation cannot be viewed as sweeping reform” and that “future legislative sessions will undoubtedly see additional efforts to reform construction defect litigation.” Perhaps the most significant aspect of HB 1279 is the requirement for a majority of condo owners in a development to approve a lawsuit, Evans reported. Furthermore, HB 1279 “requires the HOA board to notify all condo unit owners and builders about plans to pursue a construction lawsuit. It further requires the HOA board to hold a meeting to allow the board and the developer to present facts and arguments to the individual condo unit owners, including arguments of the potential benefits and detriments of filing a lawsuit.” Unlike its failed predecessors, HB 1279 does not require arbitration. Read the court decision
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US Court Disputes $1.8B AECOM Damage Award in ‘Remarkable Fraud’ Suit

April 26, 2021 — Mary B. Powers - Engineering News-Record
A federal appeals court has thrown out a $1.8-billion award granted by a lower court three years ago to an AECOM unit in a bizarre legal battle involving a Nevada company that claimed to have won multiple contracts using the name of Morrison Knudsen—the former well-known Boise-based construction contractor that was sold in 1996, and through acquisitions, became part of design-build giant AECOM in 2014. Reprinted courtesy of Mary B. Powers, Engineering News-Record ENR may be contacted at ENR.com@bnpmedia.com Read the full story... Read the court decision
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The Latest News on Fannie Mae and Freddie Mac

May 01, 2014 — Beverley BevenFlorez-CDJ STAFF
The Federal Housing Finance Agency released a report on April 30th, which stated that in a severe economic downturn Fannie Mae (FNMA) and Freddie Mac (FMCC) “could require an additional bailout of as much as $190 billion… according to the results of stress tests,” according to Clea Benson writing for Bloomberg. “These results of the severely adverse scenario are not surprising given the company’s limited capital,” FNMA Senior Vice President Kelli Parsons said in a statement, as reported by Benson published in Bloomberg. “Under the terms of the senior preferred stock purchase agreement, Fannie Mae is not permitted to retain capital to withstand a sudden, unexpected economic shock of the magnitude required by the stress test.” Furthermore, in another Bloomberg article, Cheyenne Hopkins and Clea Benson reported that Democrats remain divided on how to replace FNMA and FMCC. “If we don’t get this right, we’ll create major disturbances in the housing market which will have a profound impact on families, on homeownership and certainly on our national economy,” Oregon Democrat Jeff Merkley said in an interview, as reported by Cheyenne and Benson. “Merkley described himself as ‘still in negotiations’ with the bill’s sponsors.” Read the full story, Clea Benson Article... Read the full story, Cheyenne Hopkins & Clea Benson Article... Read the court decision
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Court of Appeal Opens Pandora’s Box on Definition of “Contractor” for Forum Selection Clauses

October 02, 2015 — David A. Harris & Abigail E. Lighthart – Haight Brown & Bonesteel LLP
In Vita Planning and Landscape Architecture, Inc. v. HKS Architects, Inc. (“Vita Planning”), the First Appellate District held California’s Code of Civil Procedure section 410.42 (“Section 410.42”) which prohibits an out-of-state contractor from requiring a California subcontractor to litigate disputes in a state other than California, applies not only to traditional “contractors” and “subcontractors” but also to design professionals and architects. In Vita Planning, a dispute arose when HKS, a Texas based architectural firm, refused to pay Vita Planning and Architecture (“Vita”), a landscape design firm, for work on a luxury hotel in Mammoth Lakes, California (“Project”). HKS contended it was not required to pay Vita until it was paid by the owner of the Project, and any claims regarding the work needed to be filed in Texas pursuant to a forum selection clause contained in a Prime Contract between HKS and the Owner. The forum clause was “incorporated by reference” into an unsigned “standard form” agreement between HKS and Vita. Despite the forum clause, Vita filed a Complaint against HKS in Marin County Superior Court. Reprinted courtesy of Abigail E. Lighthart, Haight Brown & Bonesteel LLP and David A. Harris, Haight Brown & Bonesteel LLP Mr. Harris may be contacted at dharris@hbblaw.com Ms. Lighthart may be contacted at alighthart@hbblaw.com Read the court decision
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Idaho Supreme Court Address Water Exclusion in Commercial Property Exclusion

March 09, 2020 — James M. Eastham - Traub Lieberman
In ABK, LLC v. Mid-Century Ins. Co., 2019 WL 7046393 (Idaho Dec. 23, 2019) an insured gas station owner sued its property insurance carrier for breach of contract and bad faith after the carrier denied coverage for loss caused by water contamination of the insured’s underground storage tanks. Mid-Century had denied coverage because the underground storage tanks were damaged by water -- which was an excluded peril under the policy. Mid-Century issued Business Owners Special Property Coverage to the insured which provided all-risk coverage for physical loss or damage. The policy contained a number of exclusionary provisions including a water exclusion which provided that the policy did not pay for loss or damage caused directly or indirectly by:

Flood, surface water, waves, tides, tidal waves, overflow or any body of water, or their spray, all whether driven by wind or not; ...
Water under the ground surface pressing on, or flowing or seeping through:

Foundations, walls, floors or paved surfaces:
Basements, whether paved or not; or
Doors, windows or other openings.

In upholding the District Court’s ruling in favor of Mid-Century, the Idaho Supreme Court held that a clear reading of the unambiguous policy provides damage caused by surface water or water under the ground when flowing or seeping through other openings is excluded from coverage. Read the court decision
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Reprinted courtesy of James M. Eastham, Traub Lieberman
Mr. Eastham may be contacted at jeastham@tlsslaw.com

Builder’s Be Wary of Insurance Policies that Provide No Coverage for Building: Mt. Hawley Ins. Co v. Creek Side at Parker HOA

May 01, 2014 — David M. McLain – Higgins, Hopkins, McLain & Roswell, LLC
On the heels of a recent order regarding coverage under a Comprehensive General Insurance policy issued by Mt. Hawley Insurance Company (“Mt. Hawley”), builders should be very wary of CGL policies providing no coverage for property damage. On January 8, 2013, District Court Judge R. Brooke Jackson granted a motion for declaratory judgment filed by Mt. Hawley. The order states that the subject insurance policies issued by Mt. Hawley to Mountain View Homes II, LLC (“MV Homes”), the builder developer of the Creek Side at Parker development (the “Project”), did not provide coverage for any of the work performed by MV Homes or its subcontractors on the Project. MV Homes originally began construction on the Project in 2002 and completed construction in 2005. MV Homes was insured by National Fire and Marine Insurance Company (“National Fire”) and Mt. Hawley. In December 2008, Creek Side at Parker Homeowners Association, Inc. (“the HOA”) served notice on MV Homes. The HOA then instituted a construction defect lawsuit on June 1, 2009 against MV Homes and others. MV Homes initially demanded a defense and indemnity from National Fire, which provided a defense. Then, after two years, MV Homes demanded a defense and indemnity from Mt. Hawley in July 2011. Mt. Hawley denied coverage and did not provide a defense. The case was settled soon after, and National Fire reserved or assigned claims against Mt. Hawley. Read the court decision
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Reprinted courtesy of David M. McLain, Higgins, Hopkins, McLain & Roswell, LLC
Mr. McLain may be contacted at mclain@hhmrlaw.com

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