The Village is being ordered to pay almost $8 million for taking a landowner’s property through the process of eminent domain. An appeals court in Brooklyn ordered payment be made to AAA Electricians, Inc. for condemnation of its property for a revitalization project. The village determined the property’s value at $2.5 million. The property owner countered that the property was worth substantially more. Read more.
The village wants to transform a vacant nine-plus acre plot of land on the Hudson River into a mixed-use destination. Read more.
East Hampton Town officials held off on plans to seize part of Amagansett beach. Michael Rikon comments on the case.
The Owners’ Counsel of America invited partner Mike Rikon to speak at the 13th Annual Brigham-Kanner Property Rights Conference at The Peace Palace in The Hague, The Netherlands, October 19–21 2016, sponsored by William & Mary Law School. He will participate on a panel exploring the property rights decisions of international courts.
“International agreements have broad implications for property ownership and trade. “In treaties and other international agreements, property is not limited to real property and tangible commodities but includes intellectual rights and any other right which has value.”
One of the government’s most feared powers examined. Michael Rikon comments on the history of the Atlantic Yards area.
To build west side bus terminal, Port Authority may have to seize private property.
Read story in Crains New York Business.
Goldstein, Rikon, Rikon & Houghton’s representation of the Town of East Hampton in the case disputing ownership of the beachfront was mentioned in the East Hampton Star.
A real estate developer represented by partner Michael Rikon was upheld in his claim against the MTA, but delays should have increased the size of the award.
Michael Rikon was granted an extension on a deadline for owners at 700-714 Atlantic Avenue and 718-728 Atlantic Avenue to file for just compensation, in an eminent domain petition. It was filed by Empire State Development, the corporation presiding over Pacific Park (formerly known as the Atlantic Yards). Judge Wayne Saitta pushed back to two years a deadline that had been only 120 days away.