Archive | Appraisers

New York Law Journal: The Condemnation Expert’s File: Minefield for Cross-Examination

Michael Rikon recently authored a column published in the New York Law Journal titled The Condemnation Expert’s File: Minefield for Cross-Examination. In condemnation cases, each side hires an expert to prepare an opinion on the value of the property. As Mr. Rikon explains in the article, once that expert testifies at trial, his or her work file becomes discoverable by the opposing side, and is often rife with material for cross-examination. This material can range from inaccurate data or the use of a faulty valuation method, to evidence of coaching,… read more

Posted in Appraisers, Lawyers, Offer & Compensation, Recent cases, Sandbagging, Trial Preparation, USPAP
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Emil Realty, Co. v State of New York

A recent decision by the Court of Claims (Hon. Thomas H. Scuccimarra) approved  the Claimant Emil Realty’s request for an additional three months to file its appraisal report valuing the subject property (530 Gardner Avenue, and a permanent easement over 518 Gardner Avenue). The parties had previously stipulated to other extensions, however the State refused to consent to a further extension beyond the February 15, 2015 deadline as it had already filed its appraisal, and argued it would be prejudiced by the imposition of additional statutory interest at 9% from… read more

Posted in Appraisers, Lawyers, Litigation, New York, Recent cases
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Appraisal Institute Event at World Trade Center 1

Goldstein, Rikon, Rikon & Houghton recently had the pleasure of attending the Appraisal Institute meeting of the New York Chapter, held on the 63rd floor of World Trade Center 1. Joined by esteemed New York area appraisers, we took in in breath-taking views and listened to a presentation given by the Durst Organization. The presentation covered the details of the vision, daily operation, and management of WTC 1. We have included a few pictures for your viewing pleasure:     000000

Posted in Appraisers, New York
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Court Awards $10,100,000 on Eminent Domain Claim of Property in Staten Island

The Honorable Wayne P. Saitta, Justice of the New York Supreme Court, Kings County, recently issued a decision dated June 10, 2015, awarding Yeshivas Ch’San Sofer, Inc., a Claimant in an eminent domain proceeding, $10,100,000.00 as just compensation for its property.  The decision was issued after a three day, non- jury trial was held on October 20-23, 2014 in Kings County Supreme Court. Prior to trial the City had paid an advance payment of only $611,000.00, later increasing its valuation with a supplemental payment totaling $919,000.00 The property at issue… read more

Posted in Advance Payments, Appraisers, Highest and Best Use, New York, Offer & Compensation, Recent cases, Wetlands
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Supreme Court, Rockland County Agrees with Claimant’s Highest & Best Use, Awards $741,671.00 in Just Compensation

The Supreme Court of Rockland County recently decided the case of Ferguson Management Company, LLC v The Village of Haverstraw, in which it awarded Claimant $721,671.00 as just compensation for the taking of its property. The subject property was located at 2 Dr. Girling Drive in Haverstraw and was acquired on July 26, 2006 by the Village as part of its effort to develop the waterfront with residential units known as the “Harbors at Haverstraw.” The site was improved with a one-story mezzanine warehouse/garage building consisting of finished office and three… read more

Posted in Advance Payments, Appraisers, Highest and Best Use, New York, Offer & Compensation, Recent cases, Valuation
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