Fred F. French Investing Company v. City New York
By Court of Appeals of New York
- Release Date - Published: 1976-05-04
- Book Genre: Law
- Author: Court of Appeals of New York
Fred F. French Investing Company v. City New York Court of Appeals of New York read online review & book description:
[39 N.Y.2d 587 Page 590] Plaintiff Fred F. French Investing Co., purchase money mortgagee of Tudor City, a Manhattan residential complex, brought this action to declare unconstitutional a 1972 amendment to the New York City Zoning Resolution and seeks compensation as for inverse taking by eminent domain. The amendment purported to create a Special Park District, and rezoned two private parks in the Tudor City complex exclusively as parks open to the public. It further provided for the granting to the defendant property owners of transferable development (air) rights usable elsewhere. It created the transferable rights by severing the above-surface development rights from the surface development rights, a device of recent invention.
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