Client demanded to receive full just compensation for both the value of the real property being taken by the State and the diminution in value that would be suffered by the remaining property due to the project.
Joseph Suntum worked with the client and an independent appraiser to capture all of the damages that would be suffered as a result of the project, including increased vacancy and marketing costs to lease apartments facing the Purple Line, and a higher capitalization rate to reflect the increased risk of ownership. Upon convincing proof of the resulting damages, the State agreed to pay $1,845,350 in just compensation.
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