Lowball Watch – New York

Here comes another one from the Empire State. The case caption is Longridge Associates v. Metropolitan Transportation Authority, Putnam County Supreme Court,¬† Index No. 1877/03. The essential facts are: Condemnor’s pre-litigation offer – $700,000; condemnor’s trial evidence – same;¬†trial court award – $4,375,000.

Condemnor’s problem was that it contended that the property’s highest and best use was nothing — just to hold the land.

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