Case Studies

Medford Big Box - Kohl's Decision

The Problem: Plaintiffs (Granfeld II, LLC) claim the Defendants (Kohl’s Department Stores, Inc. and Kohl’s Illinois, Inc.) were in default on their lease

The Solution: The court found that the Defendants did in fact default on their lease and awarded the Plaintiffs damages

 

Oser Avenue Tax Certiorari

The Problem: Tax Certiorari Over Assessment

The Solution
: File Tax Certiorari Appeal
 

Full taking strip shopping center

Problem: One story retail strip center, Wyandanch, Full taking with Retrospective date of Valuation of July 7, 2011

Solution: Highest & Best Use valuation focusing on the actual operating history of the center. Full Reward
 

Superblock – Long Beach, NY

Problem:  Full taking four non-contiguous vacant land parcels comprising part of Long Beach Superblock property.

Solution:  Valued based on the subject parcels inclusion as part of the Superblock vs. individual lots in conjunction with their key lots and highest and best use.  
 

Litigation Wyandanch Condemnation

Problem:  Full taking of a strategic vacant parcel of land located along Straight Path and part of Wyandanch’s 2003 Hamlet plan known as “Wyandanch Rising”

Solution:  A value based on comparable sales which incorporated several key adjustment components for its multiple frontages, access, traffic light and daily traffic volume. 
 

Fairhaven Apartments

The Problem:  Expedited Appraisal Process on one of the largest apartment aquisitions (ie. $229,800,000) on Long Island for time-of-the essence closing. 

The Solution: Created a team approach which focused on our property inspections (7) and preparing preliminary valuation models. Our property inspections and preliminary valuations were completed within 48 hours and delivered electronically to the lending institution. Final...

 

1045 Northern Boulevard

The Problem: Tax Appeal on existing used car sales lot & vehicle rental facility for six concurrent County tax years (2002-2006). Value premise based on the parcel’s existing use vs. highest & best use as vacant land.

The Solution: Ascribe market supported revenue allocations and expenditures to each operating component – auto, rental, parking, and surplus land based on the subject’s actual use as of each tax year.
 

Delancey Street

The Problem: To value a high-rise, mixed use, residential project under several distinct valuation assumptions, as well as supporting various absorption models under each in-use assumption (e.g. Rental vs. Condominium) and their respective impact on the subject’s forecasted profit and/or rate of return.

The Solution: Developed separate absorption and valuation models under each assumed use and correlate each present value interest to the...

 

Harrison Conference Center

The Problem: Evaluate an existing conference center as part of a tax grievance and Article 7 proceeding. The problem was to separate the various value components attributable to the real estate vs. going concern value.

The Solution: Analyzed and then allocated the primary value components attributed to a Hotel and/or Conference Center. These include the underlying real estate exclusive of FF&E, management, and enterprise value inclusive of...

 

Superfund Site – Lawrence Aviation

The Problem: Assess the environmental impact and its related costs on the Superfund designated site known as Lawrence Aviation Inc. (LAI). LAI is located in Port Jefferson Station and was designated as a Superfund Site in 1990 by the EPA.

The Solution: Establish Before & After asset values under certain hypothetical assumptions incorporating the EPA ROD report, its related costs, remediation life cycle, etc. & its impact on the...

 

Brooklyn Waterworks

The Problem: Market Analysis – Brooklyn Waterworks site located in Freeport which consisted predominantly of vacant land. Problem was to determine the highest & best use of the subject parcel under several distinct valuation assumptions (i.e. rental housing & condominium housing) and residual land value under each assumed use.

The Solution: Develop different development models under each proposed use and their prospective development...

 

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