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Archive | Valuing Contaminated Land

How to Value Contaminated Land

          This Appellate Division, in Matter of City of New York v Mobil Oil Corp., 12 AD3d 77 (2d Dept, 2004), a case of first impression in New York, held that the most efficacious way to acknowledge that land may be contaminated in an eminent domain proceeding is to value the condemned property as if remediated, but to hold in escrow any condemnation award pending the outcome of the Navigation Law proceeding.[1]  This court stated, [B]y excluding evidence of remediation costs in an eminent domain proceeding, the potential that the… read more

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