Real Property Valuation

There are various approaches to determining value, including:

• Market - also known as "sales comparison" - establishing the value based on a comparison of what similar properties have sold for
• Cost - establishing value based on the cost to build that structure new, less depreciation
• Income - for commercial properties, establishing the value based on the income the property generates

We are knowledgeable of the interests, benefits, and rights that positively influence these approaches to value, as well as regulations and other matters that may negatively affect the value of real property.  From the firm's practice in environmental law, energy and natural resources, and real estate development,  we are well versed in the many factors, including environmental regulations and contamination, laws and regulations affording and limiting rights to develop real property, the use of property for the production of natural resources and energy, and leases and other real estate business arrangements,  that affect the value of real property.  The ability of our attorneys to use knowledge gained from other practice areas related to real property, combined with the regular practice in real property tax and eminent domain law, distinguishes us in our understanding of the current trends and issues affecting real property value.

This grounding in real property valuation enables our attorneys to work effectively with expert real property appraisers to develop opinions of value and approaches to counsel and advocacy.  To be admissible and credible in court, appraisals must be prepared in accordance with generally accepted and published uniform standards of professional practice.  They must also be prepared in accordance with New York's unique laws and cases, depending upon the nature of the case before the court.  The mutual respect developed over decades between our attorneys and uniquely qualified expert appraisers forges powerful teams available to meet our clients' needs.

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