Appeals Court Denies NY's Bid In $125M Land Grab Suit

Law360, New York (June 5, 2012, 4:32 PM EDT) -- A New York appellate judge on Tuesday blocked a bid by state officials to slash a judgment awarding commercial real estate firm Gyrodyne Co. of America Inc. more than $125 million over land the state condemned and took over.

In another win for the real estate company in its six-year battle over the 245.5-acre property, the court denied the state's motion to appeal the decision over concerns that the land's appraisal methods had inflated the award. No opinion was released with the decision, though Gyrodyne had...
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