The New York Supreme Court awarded $7,992,000 for the taking of a 241,772 sq. ft. parcel. The city’s valuation was $995,000, but after adjustment for cleanup costs and the presence of wetlands on the subject property, the trial court awarded $7,992,000. The award is thus some eight times the city’s evidence.
The bone of contention was the extent to which the presence of wetlands on the subject property would interfere with its development. The case is City of New York v. South Beach Bluebelt, Supreme Court of Richmond County, No. 4004/08, September 28, 2012.
If you plan to read the opinion, be advised that it is long and fact-intensive. Bring your appraiser hat if you plan to do it.
Also, as watchers of Law and Order know, in New York the Supreme Court is a trial court — the lowest court of general jurisdiction. What others call the Supreme Court is called the Court of Appeals in New York. Richmond County is Staten Island.