Worldwide: Real Estate

The government has finally given clarity to real estate investors on the future direction of Minimum Energy Efficiency Standards (MEES) for the commercial rental sector in England and Wales.

What does it take to shape the future of a city? In this episode of Real Smart, Spencer talks with Bryan Eck, Executive Director of Land Use & Planning for USC Real Estate & Asset Management.

A Greenwich Village real estate developer has secured $55 million in financing from G4 Capital Partners to fund the demolition of two adjacent residential buildings and construct a new 56,000-square-foot development. The pre-development loan will support AG Paratus's plans to raze the existing structures at 111-113 E. 12th Street and replace them with a significantly larger project, though the specific use of the new development remains undetermined.

New York City's newly enacted pied-à-terre tax introduces significant compliance obligations for owners of high-value non-primary residences and cooperative boards beginning July 2026. The tax applies to properties valued at $5 million or more for single-family homes and $1 million or more for co-ops and condos, with rates varying based on property type and assessed value.

The New York City Council has unveiled proposed reforms to the City's Construction Codes aimed at unlocking development potential on thousands of small, underutilized lots across all five boroughs. These targeted changes could enable the creation of up to 35,000 new housing units on nearly 3,000 small lots without requiring burdensome zoning changes, addressing the city's housing crisis through technical code modifications rather than wholesale rezoning efforts.

California Senate Bill 79 takes effect July 1, 2026, requiring cities to facilitate multifamily housing development near major transit stops through increased height and density standards.

The Colorado Court of Appeals recently weighed in on whether the complete defense rule applies to title insurance policies, examining Covered Risks 4 and 5 alongside policy exclusions. This decision joins a growing body of case law addressing the fundamental differences between liability insurance and title insurance coverage obligations. The ruling also clarifies important distinctions about property access rights and their implications for real estate development.

In December 2025, a divided San Francisco Board of Supervisors approved, and Mayor Daniel Lurie signed, the much-anticipated Family Zoning Plan (the “Plan”), which aims to expand housing availability and affordability by (1) upzoning certain parts of the City and (2) providing a suite of tools and incentives to add housing to the City’s well-resourced neighborhoods.

New York State has enacted a pied-à-terre tax targeting luxury second homes in NYC valued over certain thresholds, set to generate $500 million annually starting July 1, 2026.