Lowball Watch – New Jersey

The Daily Record reports that a Morris County jury in New Jersey awarded $3,750,000 to the owner of the Travelers Diner in Dover, after DOT deposited $2,000,000 (Peggy Wright, Owner of Dover Diner in Eminent Domain Case Gets $3.75M, Daily Record, March 15, 2011). That’s an increase of 87.5%. The diner’s owners are also entitled on interest on the award. 

As noted in another, NJ.com  press report on this case, the $3.75 award does not include the value of the business — it’s for only the value of the land on which the diner stands and the value of the diner itself, including fixtures. Go to http://blog.nj.com/ledgerupdates_impact/print.html?entry=/2011/03/jury_awards_375m_to_former_own.html 

For the initial story go to http://www.dailyrecord.com/article/20110315/NJNEWS01/110315017/0/MULTIMEDIA02/Owner-Dover-diner-eminent-domain-case-gets-3-75M-?odyssey=nav%7Chead

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