NIAGARA FALLS URBAN RENEWAL AGENCY v. ALPS MOTOR INN & REST., INC.


51 A.D.2d 669 (1976)

Niagara Falls Urban Renewal Agency, Appellant, v. Alps Motor Inn and Restaurant, Inc., Respondent, et al, Defendants

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

January 16, 1976


Judgment unanimously modified, on the law and facts, in accordance with memorandum and as modified affirmed, without costs.

Memorandum:

Plaintiff appeals from a judgment in condemnation which awarded defendant $557,797 for property devoted to restaurant and motel purposes in Niagara Falls. Both appraisers agreed that the highest and best use of the property was that for which it was used. They valued it by the income method, capitalizing the economic rents...

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