Gyrodyne Blasts NY's Appeal Bid In $125M Land Grab Suit

Law360, New York (April 9, 2012, 1:39 PM EDT) -- Gyrodyne Co. of America Inc. is trying to bar New York state from appealing a judgment awarding the commercial real estate firm more than $125 million after the state condemned and took over one of its properties, according to a motion filed Friday.

The state, which believes the claims court judgment is “grossly inflated” and stems from  invalid appraisal methods, wants the appellate court to take another look at the 2010 judgment. But Gyrodyne argues that kind of valuation is outside the court's jurisdiction and that...
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