Lowball Watch – New Jersey

Business Week reports that the New Jersey Appellate Division has affirmed the trial court’s judgment in an interesting case. The town of Harvey Cedars decided to restore the beach and in so doing built a 22-foot dune between the sea and the beachfront home of the Karans, concededly worth $1.9 million. It offered them $300 for the diminution in value caused by the loss of view.

After trial the court awarded $375,000. Now, that award has been affirmed on appeal.

For a Business Week story reporting these events, click here.