- $38 Million Increase in Sale Price – Office Building: Sale Price Litigation
Our team obtained a settlement of $205 million for the sale price of an office building in Las Vegas, Nevada. The tenant exercised its option to purchase the property, and we represented the property owner in the litigation over the sale price/fair market value. The settlement represented an increase of $38 million more than the tenant’s initial offer of $167 million.
- $1.3 Billion Reduction of Assessed Value – Casino-Hotel: Real Estate Tax Appeal
Our team obtained a Tax Court decision reducing the tax assessment of a large casino-hotel in Atlantic City, New Jersey, by more than $1.3 billion for each of two tax years. On the heels of that decision, our team also obtained a settlement reducing the tax assessment by $1.3 billion for each of three additional tax years. The total tax savings to the client exceeds $150 million.
- $40.7 Million Increase in Condemnation Damages – Sanitary Landfill: Eminent Domain
Our team obtained a $40.9 million settlement for Keystone Sanitary Landfill in Lackawanna County, Pennsylvania, for a partial taking for a new highway. Settlement was achieved following a Board of View hearing and commencement of a jury trial. The outcome represented a recovery of $40.7 million more than the Pennsylvania Department of Transportation’s initial offer of less than $250,000.
- $18 Million Increase in Condemnation Damages – Casino-Hotel: Eminent Domain
Our team obtained a settlement worth more than $31 million for Harrah's casino-hotel in Atlantic City, New Jersey, for a partial taking for a new highway. Settlement was achieved following a Commissioners’ hearing and just before trial. The settlement included $26 million in cash and the balance in billboard advertising space. The New Jersey Department of Transportation initially offered $13 million.
- $7.9 Million Savings for Debtor – Portfolio of Office and Retail Buildings: Bankruptcy
Our team obtained valuations totaling $17.6 million for nine office and retail buildings for a debtor in the U.S. Bankruptcy Court for the District of Nevada. The values of five properties were determined by Court Order after evidentiary hearings and four were achieved via settlements. The outcome represented a savings of $7.9 million over the $25.5 million claimed by the creditors.
- $32 Million Reduction of Assessed Value – Office Building: Real Estate Tax Appeal
Our team obtained a $32 million reduction of the assessed value of an office building located outside of Pittsburgh, Pennsylvania. The property is owned by a publicly traded REIT. After a full hearing, the trial court set the new assessment at exactly our requested amount of $16.7 million, a substantial reduction from the assessment of $49 million.
- $6.5 Million Increase in Condemnation Damages – Loft/Conversion Building: Eminent Domain
Our team obtained a settlement of $16.5 million for the condemnation of a loft/conversion building in Philadelphia, Pennsylvania, for the Pennsylvania Convention Center Expansion Project. Settlement was achieved following a Board of View hearing and just before trial. The outcome represented a recovery of $6.5 million more than the Commonwealth of Pennsylvania's initial offer of $10 million.
- $15 Million Increase in Condemnation Damages – Subdivision Land: Eminent Domain
Our team obtained a jury award of over $17 million for a home builder for subdivision land in York County, Pennsylvania. The property was taken for a public park. The outcome represented a recovery of $15 million more than the county’s initial offer of $2 million.
- $9.3 Million Increase in Condemnation Damages – Family Homestead Property: Eminent Domain and Sale of Development Rights
Our team obtained a settlement of more than $11 million for the partial condemnation and sale of development rights of a family homestead property in Kentucky. The condemnation was for a new highway bridge. The settlement represented a recovery of $9.3 million more than the initial offer of $1.7 million by the Kentucky Transportation Cabinet. By including the sale of development rights in our settlement negotiations, not only were we able to obtain payment for the client based on the full value of the property for residential subdivision purposes, but also the client was able to retain ownership of a majority of the homestead property for continued residential use by the family.
- $6.25 Million in Damages for Environmental Contamination – Residential Development Property: Environmental Litigation
Our team obtained a settlement of $6.25 million for environmental damages to a residential development property in Philadelphia, Pennsylvania. The contamination resulted from ground water contamination emanating from an adjacent oil refinery.
- $1.7 Million Increase in Condemnation Damages – National Automotive Parts and Service Company: Eminent Domain
Our team obtained a settlement of $1.7 million for a national automotive parts and service company as a result of a partial condemnation of a property it leased for a store in Houston, Texas. The partial taking was for road improvements. The outcome represented a recovery of $1.7 million more than the initial offer of zero by the Texas Department of Transportation. Our client’s claim was also opposed by its landlord, which sought to keep all damages for itself.
- More than $2 Million Rent Savings –
Skilled Nursing Facility
Our team obtained a decision resulting in a savings of
more than $2 million in rent for our
client. We represented a skilled nursing facility in a case where its landlord
sought to double the rent. After a five-day trial, the New Jersey Court found
our experts to be credible, rejected the landlord’s appraiser’s opinions and
ruled in favor of our client.