GRRH obtained $28,000,000 for property located at 4525 Eighth Avenue, Brooklyn, New York in a sale in lieu of condemnation with the New York City School Construction Authority. NYCSCA initially offered $17,950,000 for the property. Michael Rikon, Joshua Rikon, and Ashley Levi worked on the transaction.
Michael Rikon won an affirmance in the Appellate Division, Second Department in 730 Equity Corp. v N.Y.S. Urban Dev. The Court affirmed the award of $9,186,000 plus interest in the Barclay Center taking. The advance payment was $2,280,000.
Michael Rikon, as Special Counsel to the Town of East Hampton, prevailed in the Seaview and White Sands trials upholding the Town and public’s historic right to continue to use the Beach at Napeaque, Amagansett, New York for recreational uses. Decision by Hon. Ralph T. Gazzillo, dated November 4, 2016, Suffolk County Supreme Court.
Michael Rikon recovered an additional allowance pursuant to EDPL 701 in the sum of $1,190,583 in AAA Electricians, Inc. v Village of Haverstraw. This increased the total recovery to $8,690,583. The Village’s appraisal damages were $1,000,000.
Jonathan Houghton settled the Risingsam claim in the same proceeding for $925,000. The advance payment was $457,000.
Jonathan Houghton settled the Tserpes claim in the 142nd Street, Queens proceeding for $500,000. The advance payment was $93,000.
Jonathan Houghton settled the Armellino claim in the Hudson Yards proceeding for $1,900,000. The advance payment was $700,000.
Ashley Levi settled the real estate claim of Estate of Oliver Stewart in the Atlantic Yards case for $950,000. The pre-vesting offer was for $625,000.
Joshua H. Rikon settled the trade fixture claim of El Torero Rest., Inc. in Spring Valley for $293,193. The advance payment was $90,000.
Joshua H. Rikon settled the claim of Portuguese American Community Center in Spring Valley for $750,000. The advance payment was zero.