L.B. Oil Co. v. State

Appellate Division of the Supreme Court of New York

L.B. Oil Co. v. State

81 A.D.2d 856, 438 N.Y.S.2d 862, 1981 N.Y. App. Div. LEXIS 11534

CourtAppellate Division of the Supreme Court of the State of New York

DecidedMay 11, 1981

DocketClaim No. 59728

StatusPublished

Cited by1 cases

This text of 81 A.D.2d 856 (L.B. Oil Co. v. State) is published on Counsel Stack Legal Research, covering Appellate Division of the Supreme Court of the State of New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

L.B. Oil Co. v. State, 81 A.D.2d 856, 438 N.Y.S.2d 862, 1981 N.Y. App. Div. LEXIS 11534 (N.Y. Ct. App. 1981).

Pincite

Opinion

— In a condemnation proceeding, claimant fee owner L. B. Oil Co., Inc., appeals, on the ground of inadequacy, from a judgment of the Court of Claims, dated October 26, 1979 which awarded it the principal sum of $100,965. Judgment modified, on the law and the facts, by increasing the award to the appellant from the principal sum of $100,965 to the principal sum of $120,000. As so modified, judgment affirmed, with costs to the appellant and matter remitted to the Court of Claims for entry of an appropriate amended judgment. It was error to deduct from the award of $120,000 the fixture award of $19,035. Claimant’s expert valued the real estate, as improved, at $200,000, exclusive of fixtures. The State’s expert valued the improved real estate at $87,000 and it is clear that he did not include the value of the trade fixtures of tenant Texaco. Further, the appraisers for both sides gave greatest weight to the market data approach, and the Court of Claims concurred. It was not established, however, that the comparable sales included the sale of fixtures of the type at issue, or that the sales prices included value for such fixtures. Titone, J.P., Mangano, Gulotta and Thompson, JJ., concur.

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— In a condemnation proceeding, claimant fee owner L. B. Oil Co., Inc., appeals, on the ground of inadequacy, from a judgment of the Court of Claims, dated October 26, 1979 which awarded it the principal sum of $100,965. Judgment modified, on the law and the facts, by increasing the award to the appellant from the principal sum of $100,965 to the principal sum of $120,000. As so modified, judgment affirmed, with costs to the appellant and matter remitted to the Court of Claims for entry of an appropriate amended judgment. It was error to deduct from the award of $120,000 the fixture award of $19,035. Claimant’s expert valued the real estate, as improved, at $200,000, exclusive of fixtures. The State’s expert valued the improved real estate at $87,000 and it is clear that he did not include the value of the trade fixtures of tenant Texaco. Further, the appraisers for both sides gave greatest weight to the market data approach, and the Court of Claims concurred. It was not established, however, that the comparable sales included the sale of fixtures of the type at issue, or that the sales prices included value for such fixtures. Titone, J.P., Mangano, Gulotta and Thompson, JJ., concur.

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Bluebook (online)

81 A.D.2d 856, 438 N.Y.S.2d 862, 1981 N.Y. App. Div. LEXIS 11534, Counsel Stack Legal Research, https://law.counselstack.com/opinion/lb-oil-co-v-state-nyappdiv-1981.

Opinion

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