Ken Fisher is quoted in a Gothamist article discussing families who are being evicted from their homes in order to extend the Second Avenue subway in New York City. Families who reside in Spanish Harlem have received 90-day residential vacancy notices with minimal relocation assistance. While the construction will bring much-needed subway service to one of Manhattan’s largest transit deserts, at least 19 properties in the neighborhood will be affected.
As for the owners and landlords of these properties, state law requires a judge to determine the fairest price for an eminent domain proceeding. Ken noted that the owner and government agency can negotiate the best price for a property based on an evaluation of the zoning and market rate. “In most cases, the property owner will commission their own appraisal if they can negotiate a settlement,” said Ken. “It's a little bit more complicated, but can be a relatively straightforward process. If they don't [settle], then it will go to a court. Both sides will put their experts on and the judge will decide.”
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