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 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 142<sup>nd</sup> Street, Queens proceeding for $500,000.<span class=”Apple-converted-space”> </span>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.
Jonathan Houghton settled the claim of Harlem River Yard Ventures, Inc. in the Willis Avenue Bridge Replacement proceeding for $7,654,616. The City’s advance payment was $1,448,000.
Michael Rikon recovered $473,578 as an additional allowance pursuant to EDPL Sec. 701 in Matter of Port Chester, Bologna-Didden bringing the total recovery to $4,735,714. The Condemnor’s advance payment was $975,000.
Michael Rikon recovered $472,055 as an additional allowance in Mazur Brothers v State of New York, which brought the total recovery to $4,972,055. The State’s total appraised damages were $1,011,500.
Michael Rikon settle claims of Tuck-It-Away against New York State Urban Development Corp.
Michael Rikon settled Freiman Coated Fabric Corp. against the State of New York.
Michael Rikon settlement in Split Rock Partnership v Rockland County Sewer District No.1.
Michael Rikon settled claim for garage taken in the Second Avenue Subway proceeding.
Jonathan Houghton recovered $241,740 from the Hon. Wayne R. Saitta for an additional allowance pursuant to EDPL § 701. Matter of City of New York (Paolella), 2015 N.Y. Misc. LEXIS 4338 (Sup. Ct. Rich. 2015). This was in addition to $810,000 plus interest of $306,940 awarded after trial. The award was affirmed on appeal. 122 AD3d 859 [2d Dept 2014] The City’s offer was $165,400.
Michael Rikon recently won an award of $3,500,000 for the taking of wetlands property located on Staten Island. The case is Matter of City of New York (Staten Island Land Corp.), Index No. 4013-06.
Michael Rikon won an award of $10,100,000 after trial for the taking of 7 acres of wetlands in the Oakwood section of Staten Island. The City’s pre-vesting offer was $611,000.