NEW YORK (PRWEB) January 22, 2019
Sanchez & Polovetsky, PLLC, (http://www.spnylaw.com) a midtown Manhattan law firm focusing its practice in eminent domain law, is pleased to announce that is has successfully increased the eminent domain trade fixture award initially offered to its client Westbury Market Fair, Inc., by almost 400%.
Westbury Market Fair operated a dollar store (the “Dollar Store”) in the East Harlem neighborhood of 125th Street between 2nd and 3rd avenues. On January 24, 2017, the City of New York acquired the building where the Dollar Store operated its business via eminent domain, in connection with the East Harlem Urban Renewal Plan, Stage 1. Pursuant to law, the Dollar Store was obligated to vacate the premises, but was allowed to file a claim for compensation for its seized trade fixtures (i.e., equipment and other eligible trade fixture items used for the Dollar Store’s business operations).
Sanchez & Polovetsky filed a claim on behalf of its client, the Dollar Store (i.e., Westbury Market Fair Inc.), on July 12, 2017. After almost two years of Court appearances, appraisal reviews, intense negotiations and pre-trial court conferences, the firm was finally able to obtain a favorable settlement on behalf of the Dollar Store instead of going through a lengthy and costly trial. The settlement was paid and closed on January 16, 2019. Although the terms of the settlement are confidential, attorneys at the firm have confirmed that the settlement was in an amount that was approximately quadruple the amount of the initial eminent domain award offered to its client—an almost 400% increase.
The case is captioned as: In the Matter of the Application of THE CITY OF NEW YORK, Petitioner, To Acquire by Exercise of its Powers of Eminent Domain, Fee Simple in Certain Real Property Known as Tax Block 1790, Lots 1, 5, 44 and 101, located in the Borough of Manhattan, needed for the FIFTEENTH AMENDED HARLEM-EAST HARLEM URBAN RENEWAL PLAN (EAST 125TH STREET), STAGE 1, Within an area generally bounded by East 126th Street on the north; 2nd Avenue on the east; East 125th Street on the south; and 3rd Avenue on the west, in the Borough of Manhattan, City and State of New York/WESTBURY MARKET FAIR, INC., (fixture claimant with respect to Damage Parcel 1 [Block 1790, Lot 1]), Claimant, against THE CITY OF NEW YORK, Condemnor, under New York County Supreme Court Master Index No. 450080/2018 (Hagler, J.).
“The outcome of these proceedings was especially gratifying because we were able to obtain a successful outcome for our client and we know the property will be used for affordable housing, which is a good cause and much needed within the East Harlem community,” says Jennifer Polovetsky, partner, Sanchez & Polovetsky, PLLC.
“We are thrilled at the outcome of this case on behalf of our client. Eminent domain can be a stressful and overwhelming process for a business owner. Sanchez & Polovetsky prides itself on obtaining successful outcomes for clients, which includes awards for property and trade fixtures,” says Philip Sanchez, partner, Sanchez & Polovetsky, PLLC.
ABOUT SANCHEZ & POLOVETSKY, PLLC
Sanchez & Polovetsky, PLLC is a midtown Manhattan based law firm, with offices at The Commerce Building, which focuses its practice in eminent domain law. The attorneys at the firm have over three (3) decades of combined legal experience in both the public and private sectors, and have been named to the prestigious Super Lawyers List (representing the top 5% of lawyers in their State) for four years in a row.
Jennifer Polovetsky, Esq., who started her career as an attorney at the New York City Law Department in 2000 before entering private practice in 2003, is the firm's founding Member and a seasoned litigator with extensive experience in all aspects of Eminent Domain Law and Real Estate Law.
Philip A. Sanchez, Esq., who became a Member of the firm in 2012, is in his nineteenth year of practice, having obtained his legal experience in both the public and private sectors, with a focus on Eminent Domain Law.