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Author Archive | Michael Rikon

June 19, 2015

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:    

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Posted in Appraisers, New York
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June 15, 2015

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

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Posted in Advance Payments, Appraisers, Highest and Best Use, New York, Offer & Compensation, Recent cases, Wetlands
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June 12, 2015

Lost Tree Village Corporation v United States

For those readers not familiar with the concept, the implementation of a wetlands regulation can constitute a regulatory taking and require that just compensation be paid pursuant to the Fifth Amendment. Wetlands cases can be complex, but generally fall into a few categories for analysis. . The first type is analyzed under Penn Central Transportation Co v New York City, 438 US 104 (1978). The Penn Central case utilized a three factor test to determine whether a regulation goes “too far” (meaning it would be considered a taking under the… read more

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Posted in Recent cases, Valuation, Wetlands
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June 4, 2015

The 800th Birthday of the Magna Carta

This month, on June 15, 2015, we celebrate the 800th anniversary of the signing of the Magna Carta, the famous English document that secured our liberties and rule by law. The Magna Carta was an agreement between King John and a group of rebel English barons in response to “years of the King’s misrule and excessive taxation” and, for the first time in history, placed the rule of the law above that of the King’s desires, stressing democracy and equality over the whims of the all-powerful elite. The document was signed… read more

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May 20, 2015

Blau Rock LLC v State of New York

The Hon. Thomas H. Scuccimarra authored an excellent decision recently in the New York Court of Claims: Blau Rock LLC v State of New York. At issue was the amount of interest due on the deposit of an advance payment owed to Claimant Blau Rock LLC (“Blau Rock” or “owner”) for the acquisition of a portion of its property in connection with the construction of the Palisades Trailway. The specific background of the case is as follows. Under Eminent Domain Procedure Law 304(A), when a Condemnor acquires property, it must make… read more

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Posted in Advance Payment Agreement, Advance Payments, Eminent Domain, Litigation, New York, Recent cases
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