Michael Zarin and Marsha Rubin Goldstein were first retained by the New York City Law Department in 2017 to analyze whether a Hypothetical Purchaser would likely pay a premium for condemned property with the goal of bringing a regulatory takings claim based upon implementation of the NY State Freshwater Wetland Regulations. The City is required to pay a property owner an “increment” over the land’s regulated value as just compensation where a takings claim is likely to be successful.
Expert reports, and Michael’s testimony in subsequent eminent domain valuation trials, cover the process of pursuing a successful regulatory taking challenge, including the steps needed to ripen the claim and the time and costs (such as legal fees) that a Hypothetical Purchaser would incur in bringing such a challenge. Michael has already testified in several Bluebelt cases in which the New York State Supreme Court has accepted his expert opinion that any increment to be paid by the City must be based upon the realities of the marketplace, including the actual time, costs and risks that a Hypothetical Purchaser would face in pursuing a regulatory takings claim.
The collective practical and legal experience of Z&S’ Attorneys — spanning over four decades — in environmental and general litigation, land use, wetland permitting, administrative law, urban renewal, and public-private redevelopment was a significant factor in its selection as an expert for the City on regulatory takings.