Developer's $189M Valuation Case Denied High Court Review

Law360, New York (April 30, 2012, 9:26 PM EDT) -- The U.S. Supreme Court declined Monday to hear developer River Center LLC's case claiming New York state agencies lowballed it when they seized for the City University of New York an underdeveloped parcel in Manhattan allegedly worth at least $189 million.

The developer argued the New York Supreme Court and its Appellate Division failed to take into account the development potential of the Midtown West property when they set eminent domain compensation at $97 million in 2008 and two years later lowered it to $82 million,...
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