The Grand Central Terminal air rights takings litigation was settled yesterday. We reviewed this litigation in our blog on June 8, 2016, available here: https://eminent-domain-blog.com/update-grand-central-terminal-air-rights-takings-litigation/ This settlement will allow for the construction of a 1,401-foot-tall building across 42nd Street on Vanderbilt Avenue in Manhattan. Interestingly, the settlement, according to a New York Times article, dated August 10, 2016, is likely because of a change in the ownership of the plaintiff corporation. The new owners are MSD Capital, a firm controlled by Michael Dell, the founder of Dell Computers, and brothers… read more
August 11, 2016