In re the City of New York

In the instant proceeding, the claimant, Columbia University, seeks to increase the prevailing rate of 6% interest paid on condemnation awards to 8%, on the theory that since the date of vesting (October 1, 1971), *558conditions in the "money” market were such that the prevailing rate of 6% interest is inadequate and thus does not conform to the constitutional requirement of "just compensation”.

"It is settled doctrine that a condemnee is constitutionally entitled to 'some sum in addition to the bare value of the property at the date of taking for the delay in making payment, so that the…