In re City of New York

The award of $39,775,208 to claimant for condemnation in 1963 and 1964 by the City of New York of unimproved land in the Breezy Point section of Rockaway peninsula was over seven times the amount the same land in the substantially same condition of improvement had cost claimant three years before in 1960.

The court at Special Term expressly based its award both on “capitalization of estimated income” in projects which claimant proposed to develop but which had not been started or contracted for in the land under consideration on this appeal; and also on “ comparable sales ”.

Since the award was…