MATTER OF CITY OF NEW YORK


44 A.D.2d 599 (1974)

In the Matter of The City of New York, Appellant, Relative to Acquiring Title to Real Property Bounded by Baltic Street and Other Streets, Duly Selected as a Site for Public School 322 in The Borough of Brooklyn. 664 Baltic St. Realty Corp., Respondent

Appellate Division of the Supreme Court of the State of New York, Second Department.

March 25, 1974


Decree reversed insofar as appealed from, on the law and the facts, without costs, and proceeding remanded to Special Term for a further hearing and new findings in accordance with the views herein set forth.

In our opinion, the trial court erred in basing its valuation upon the capitalization of income approach, adopted by one of the claimant's experts, as if the burned-out shell of the building had been completely reconstructed and renovated and the proposed lease...

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