New York Law Review

Matter of City of New York (Chestnut Properties Co.), 34 N.Y.2d 800 (1974): Valuation of Vacant or Partially Exploited Land in Eminent Domain

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The New York Law Review

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Matter of City of New York (Chestnut Properties Co.), 34 N.Y.2d 800 (1974)

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The proper test for valuing vacant or partially exploited land in eminent domain proceedings is based on comparable sales and market value, rather than speculative future uses.

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Summary

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This case concerns the valuation of property taken by the City of New York through eminent domain. The Court of Appeals found that the lower courts improperly valued the property by placing excessive emphasis on a purportedly comparable property (

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