Lowball Watch — New York

The AAA-Electricians case was a taking of 18.8 acres by the Village of Haverstraw which then transferred the subject land to a developer. The  village offered the owners $3,480,000, and it made an “advance payment” of $2,596,150, claiming a miscalculation. But at trial, the village came in with an opinion of value of $1,512,000, less $512,000 for cleanup. While this went on, the village resold the property to a developer for $3.5 million.

The trial court (there are no juries in New York condemnation trials) found that the village acted in bad faith and awarded $6,500,000 as just compensation for the taking.

On appeal. Held: affirmed.

For a more detailed writeup of this case by Michael Rikon, the owner’s counsel, go to http://eminent-domain-blog.com/appellate-division-affirms-award-in-aaa-electricians/

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