Searching over 5,500,000 cases.


searching
Buy This Entire Record For $7.95

Official citation and/or docket number and footnotes (if any) for this case available with purchase.

Learn more about what you receive with purchase of this case.

SNYDER AIR PRODUCTS CO. v. STATE NEW YORK (12/04/69)

SUPREME COURT OF NEW YORK, APPELLATE DIVISION, FOURTH DEPARTMENT


December 4, 1969

SNYDER AIR PRODUCTS CO., INC., RESPONDENT,
v.
STATE OF NEW YORK, APPELLANT

Appeal from judgment of Court of Claims, in claim for damages for permanent appropriation.

Goldman, P. J., Marsh, Witmer, Moule and Henry, JJ.

Memorandum: The trial court's allowance of $85,000 for improvements is justified by evidence of appraisals based on the economic approach to value but the trial court failed to make findings of the rental value of the building and of the factors upon which the building value could be properly based. There being sufficient evidence in the record from which appropriate findings may be made, however, we have re-evaluated the proof and make additional findings as follows: Annual gross income $15,400 less annual expenses for taxes $2,020; insurance $400; maintenance and janitor $580; management $450; and heat $1,800; leaving a net annual income of $10,150, of which $2,505 is imputable to land ($41,760 at 6%) and $7,645 is imputable to the building which capitalized at 9% (7% return plus 2% recapture) gives a building value of $85,000.

Disposition

 Judgment unanimously affirmed, with costs.

19691204

© 1998 VersusLaw Inc.



Buy This Entire Record For $7.95

Official citation and/or docket number and footnotes (if any) for this case available with purchase.

Learn more about what you receive with purchase of this case.