Lowball Watch – New Jersey

NorthJersey.com reports that a Paterson, New Jersey, jury brought in an eminent domain verdict double that of the condemnor’s offer. NJ Transit took by eminent domain a 3-acre parcel for a commuter parking lot. It originally offered the owners $1.6 million, but the owners rejected that offer. The case went to a valuation trial, and after deliberating for only 2.5 hours, the jury brought in a verdict of $2.6 million.

For the NorthJersey.com story,  see Nick Clunn, NJDOT Ordered to Pay $2.6 Million for Mother’s Lot,  NorthJersey.com, January 27, 2012 A tip of our hat to the New Jersey blog for alerting us to this one.

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