Much of the work of deal attorneys is outside public view, yet their triumphs and innovations set precedent for the market as it evolves.
After the country's biggest residential brokerage combined with its biggest rival, New York's attorney general launched a probe into the $1.6 billion merger of Compass and Anywhere Real Estate on antitrust grounds. New York’s investigation comes in a long line of regulatory scrutiny examining brokerage-industry practices. New York University economics professor Lawrence White spoke with Law360 about ramifications of the state’s investigation.
A tax on high-value second homes in New York City slated to take effect in the coming months could lead to disputes over whether such a property qualifies as a primary residence and how the value of a cooperative is determined.