A Bronx not-for-profit sues City over the sale of waterfront property to a private developer. The City sold Pier 5 to a private developer to facilitate the construction of the Bronx Point development. Pier 5 is a 4.4 acre plot of land bounded by Mill Pond Park to the North, the 149th Street Bridge to the South, the Major Deegan Expressway to the East and the Harlem River to the West. The development anticipates … <Read More>
Search Results for: Disposition of City Property
MTA must compensate for taken trade fixtures
- Fulton Street Transit Center. Image: Mary Gillen.
MTA claimed that compensation for trade fixtures in building taken for transit project would constitute improper windfall payment. Three restaurant tenants in a three-story building at 194 Broadway in Lower Manhattan sought compensation for their trade fixtures after the Metropolitan Transportation Authority acquired the property through eminent domain for its Fulton Street Transit Center project. The three restaurants were separately incorporated, but were owned by the same individual … <Read More>