(DOWNLOAD) "Matter City Rochester v. John Dray" by Supreme Court of New York " eBook PDF Kindle ePub Free
eBook details
- Title: Matter City Rochester v. John Dray
- Author : Supreme Court of New York
- Release Date : January 16, 1977
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 62 KB
Description
[60 A.D.2d 766 Page 766] Judgment unanimously reversed, on the law and facts, without costs, and a new trial granted. Memorandum: The city appeals from a judgment which awarded damages to respondent for real property condemned by the city. The court determined that the value of the property was $110,990 and, after deducting the prepayment and adding interest, costs and disbursements and an additional 5% statutory allowance, judgment in favor of respondent was entered for $132,460.82. The property is vacant land fronting 82.4 feet on Clinton Avenue South, extending back in approximately the same width 350 feet and containing approximately 28,340 square feet. At the time of taking approximately 9,800 square feet of the front portion to a depth of 120 feet was zoned community business district and the remaining rear property was zoned low density residential development. Respondent acquired the property in 1963, and after demolishing some old buildings he obtained a variance to permit use of the entire premises as a parking area for automobiles in conjunction with a new car dealership. The respondent's expert believed the highest and best use of the property was for commercial development either independently or as part of an assemblage with adjacent property. This would require rezoning of the rear portion of the property and he stated that, in his opinion, such rezoning would be permitted. Using the market data approach, he found the property had a value of $4.25 per square foot or $120,400. The city's expert found the same highest and best use for the front portion of the property but concluded that the highest and best use of the rear portion was for accessory parking. He did not believe that the rear portion would be rezoned commercial because of the market trends in the area. He evaluated the property by the market data approach and, using commercial comparables for the front portion and residential comparables for the rear portion, he found a total value of $32,247 ($22,050 for the commercial portion, $10,197 for the residential portion). The trial court adopted the evidence of respondent by dividing the property into commercial and potentially commercial property. It found a value of $4.25 per square foot for the commercial portion. Using a residential comparable of respondent's appraiser which had been granted a variance for parking, it found a value of $3.74 per square foot for the residential portion of the real property and a total value for the property of $110,990. While property CL-1 used by the city's appraiser [60 A.D.2d 766 Page 767]
 "Matter City Rochester v. John Dray" by Supreme Court of New York " eBook PDF Kindle ePub Free){kind=link}