Thursday, November 19, 2009

Daily News: other AY footprint landowners also have been low-balled

In today's New York Daily News, a follow-up on the news that Atlantic Yards opponent and eminent domain lead plaintiff Daniel Goldstein received a low-ball $510,000 pre-condemnation offer from the Empire State Development Corporation (ESDC):
  • A real-estate broker says "That's way low."
  • Peter Williams said he was offered $432,000 for a one-story loft building on Sixth Avenue, which two years ago gained a $2.5 million offer from Forest City Ratner
  • Henry Weinstein said he was low-balled with a $16 million offer for a 7-story office building and parking lot on Pacific Street, but didn't set a price.
Yes, the first offer is not definitive and, should condemnation proceed, they'll get that, and hash out the rest in court. Still, the ESDC's appraiser does not appear to have read the ESDC-commissioned KPMG report, since the offer for Goldstein's apartment is below the Prospect Heights minimum.

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