Archive | Valuation

Appellate Division Affirms Award of $8.1 Million

On August 20, 2014, the New York Appellate Division, Second Department, affirmed an award of $8,100,000 for just compensation to Split Rock Partnership for the taking of Claimant’s real property. The advance payment was $244,800. The decision can be found here. Claimant owned 64 acres of vacant land in the Village of Hillburn, which is located in Rockland County. In February 2005, Rockland County Sewer District No. 1 acquired the subject property by condemnation for the construction of a new sewer processing facility. The Appellate Division held that the measure… read more

Posted in Highest and Best Use, New York, Recent cases, Valuation
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Condemnors Acting Badly, Another Installment

It is a straight forward concept. If you exercise your power of eminent domain, you must, under our Federal and State Constitutions, pay just compensation. Section 101 of the Eminent Domain Procedure Law (“EDPL”) states that it is the purpose of the EDPL “to assure that just compensation shall be paid to the persons whose property rights are acquired by the exercise of the power of eminent domain.” The same provision requires payments to property owners to be expedited. The policy, set forth in section 301 requires the condemnor to… read more

Posted in Eminent Domain Abuse, Title vesting, Trade fixtures, Valuation
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