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MTR NYC (FRANKLIN RECORD)

59 N.Y.2d 57 (1983)

In the Matter of the City of New York, Appellant, Relative to Acquiring Title to Real Property for Clinton Urban Renewal Project in the Borough of Manhattan. Franklin Record Center, Inc., Respondent.

Court of Appeals of the State of New York.

Decided May 10, 1983.

Attorney(s) appearing for the Case

Frederick A. O. Schwarz, Jr., Corporation Counsel (Peter A. Mound and Leonard Olarsch of counsel), for appellant.

M. Robert Goldstein for respondent.

Chief Judge COOKE and Judges JASEN and JONES concur with Judge MEYER; Judge FUCHSBERG dissents and votes to reverse in a separate opinion in which Judges WACHTLER and SIMONS concur.

MEYER, J.

The compensation due a claimant in condemnation who was able, because its building had shelves and movable partitions and was leased for record storage, to obtain higher rentals per square foot than were obtainable for storage space in loft buildings not similarly equipped and rented is not limited by the sale value of such loft buildings. Absent evidence that the market value of a loft building with...

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