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520 E 81ST ST ASSOC v. STATE

99 N.Y.2d 43 (2002)

780 N.E.2d 518

750 N.Y.S.2d 833

520 EAST 81ST STREET ASSOCIATES, Appellant, v. STATE OF NEW YORK, Respondent.

Court of Appeals of the State of New York.

Decided November 14, 2002.

Attorney(s) appearing for the Case

Rosenberg & Estis, P.C., New York City (Gary M. Rosenberg and Jeffrey Turkel of counsel), for appellant.

Eliot Spitzer, Attorney General, Albany (Patrick Barnett-Mulligan, Caitlin Halligan and Peter H. Schiff of counsel), for respondent.

Chief Judge KAYE and Judges LEVINE, WESLEY and ROSENBLATT concur; Judges SMITH and GRAFFEO taking no part.

OPINION OF THE COURT

CIPARICK, J.

The broad issue on this appeal is the proper measure of damages for a temporary regulatory taking of property by the State. Specifically, we must determine the correct method of calculating damages when a regulatory taking delays the imminent sale of property. On the facts presented here, we conclude that just compensation requires an award for the lost use of sale proceeds from the time of the taking and not an award that...

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