Lowball Watch — New Jersey

NJ Advance Media for N.J.com brings the dispatch from Essex County, new Jersey, that a local  jury just awarded a property owner $2.9 million in an eminent domain case. The city of Bloomfield took the owners’ property — a commercial parcel that the owner meant to develop — in order to develop it itself. The taking took place in 2012.

The case went to trial two years later. The city’s appraiser testified to a value of $440,000 and the city argued that the parcel could not be developed. The jury disagreed and brought in a verdict for $2,900,000 — or, 6.5 times the city’s evidence. The owner’s trial counsel was Anthony DellaPelle of McKirdy & Riskin, a law firm in Morristown, New Jersey.

See  http://www.nj.com/essex/index.ssf/2016/06/town_must_pay_29m_for_property_seized_via_eminent.html#incart_river_home