Landmark Status Caused $7M Loss, Fla. Landowner Says

Law360, Miami (August 9, 2013, 7:53 PM EDT) -- The owner of a 2-acre waterfront lot in Coral Gables, Fla., on Wednesday sued the city for designating the house on the lot as a historic property, a move the owner says has dropped the going sale price for the property by $7 million.

Cascar LLC, which owns the property in the exclusive neighborhood of Gables Estates, sued the city, the city commission and its historic preservation board, alleging that their denial of a demolition permit has deterred bidders and decreased the value of the property...
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