tag:blogger.com,1999:blog-20743459.post6655503000696814507..comments2024-03-18T05:56:29.009-04:00Comments on Atlantic Yards/Pacific Park Report: On Brian Lehrer, Goldstein says ESDC offer for condo is less than what he paid in 2003; today's segment is Atlantic YardsNorman Oderhttp://www.blogger.com/profile/07618087999719667586noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-20743459.post-39428078592212917632009-09-30T12:07:17.493-04:002009-09-30T12:07:17.493-04:00"Serkin said that properties are valued at th..."Serkin said that properties are valued at the time of taking and can suffer from condemnation blight--the fair market value reflects the lowered perception of the property."<br /><br />Professor Serkin is incorrect. When evaluating a property for just compensation purposes, appraisals are expressly supposed to ignore the shroud of condemnation and developer's blight. Comparables are supposed to be properties not impacted by the proposed condemnation. <br /><br />By the way, I called in not to complain on my on behalf—though obviously I will fight the theft of my home by the ESDC—but rather to expose the ESDC and NY State because they do this lowballing all the time in these situations. It is so clearly wrong, yet they get away with it. <br /><br />I do not want them to get away with it or bypass public scrutiny of their actions. <br /><br />Also, for the scores of politicians in NYC and NYS who blithely say that eminent domain is okay because the owners are treated fairly—they need to understand that that happy talk is contradicted by the reality of the process and the condemnor's lowballing. Furthermore, renters—regulated or market—get screwed as well, as do most commercial property owners and businesses.<br /><br />There is no fairness whatsoever in the way NY does "just compensation," let alone justice. If the eminent domain is purportedly for the public good and some have to sacrifice for the public good, then why must those people be lowballed if the sacrifice is the taking of their homes and businesses?<br /><br />They shouldn't be.Daniel Goldsteinhttps://www.blogger.com/profile/16559493959544311385noreply@blogger.com