Archive | Appraisers

There is no Inflexible Formula to set Just Compensation

Eminent domain is not your typical litigation.  The former owner did not ask for its property to be taken for a public purpose. This is the reason that several decisions have pointed out that what may be normal in litigation between private parties does not apply in a condemnation proceeding which involves a claim protected by our constitutions.  As Justice Thomas A. Dickerson stated, in Matter of Irvington v Sokolik, 13 Misc3d 1220 [Sup. Ct. West 2006], “a condemnation proceeding is not a private litigation.  There is a constitutional mandate… read more

Posted in Appraisers, Eminent Domain, Valuation
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Drafts are Required to be Retained Under Appraisal Standards

The following is a response to a comment from Mr. Rikon’s latest column in the New York Law Journal, which we recently posted here. Below, Mr. Rikon further describes the requirement under USPAP for a condemnation expert to retain his work file for cross-examination purposes. Drafts are Required to be Retained Under Appraisal Standards I write this in response to the comment made by Fred Kolikoff, Esq. dated September 1, 2015.  Mr. Kolikoff, a former Assistant Corporation Counsel for the City of New York, found fault in an article I… read more

Posted in Appraisers, Cross Examination, Published Articles, USPAP, Work file
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New York Law Journal: The Condemnation Expert’s File: Minefield for Cross-Examination

Michael Rikon recently authored a column published in the New York Law Journal titled The Condemnation Expert’s File: Minefield for Cross-Examination. In condemnation cases, each side hires an expert to prepare an opinion on the value of the property. As Mr. Rikon explains in the article, once that expert testifies at trial, his or her work file becomes discoverable by the opposing side, and is often rife with material for cross-examination. This material can range from inaccurate data or the use of a faulty valuation method, to evidence of coaching,… read more

Posted in Appraisers, Lawyers, Offer & Compensation, Recent cases, Sandbagging, Trial Preparation, USPAP
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Emil Realty, Co. v State of New York

A recent decision by the Court of Claims (Hon. Thomas H. Scuccimarra) approved  the Claimant Emil Realty’s request for an additional three months to file its appraisal report valuing the subject property (530 Gardner Avenue, and a permanent easement over 518 Gardner Avenue). The parties had previously stipulated to other extensions, however the State refused to consent to a further extension beyond the February 15, 2015 deadline as it had already filed its appraisal, and argued it would be prejudiced by the imposition of additional statutory interest at 9% from… read more

Posted in Appraisers, Lawyers, Litigation, New York, Recent cases
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Appraisal Institute Event at World Trade Center 1

Goldstein, Rikon, Rikon & Houghton recently had the pleasure of attending the Appraisal Institute meeting of the New York Chapter, held on the 63rd floor of World Trade Center 1. Joined by esteemed New York area appraisers, we took in in breath-taking views and listened to a presentation given by the Durst Organization. The presentation covered the details of the vision, daily operation, and management of WTC 1. We have included a few pictures for your viewing pleasure:    

Posted in Appraisers, New York
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