The developer is paying market value for the property.
Eminent domain is often used to acquire property for public improvements.
In the long run, every one benefits.
You are not taking property? Yes you are.
I live in rural PA ... there is no way any eminent domain could or would apply to my 2.25 acres
West Side Story was filmed in a section of NYC that was to be destroyed in a few months .... the whole scenery of WSS no longer exists
The point I'm trying to make is;
A movie brought us into an era for a fantasy and some developer wants to use Doc's store for a high rise (or whatever)
What Trump is saying is ... Doc got a half a mil for turning over the deed of real estate that was condemned already (Batteries Not Included a fair example of a hold-out ... but I don't think it ever really worked out that way)
Eminent domain, IS a good thing IF it actually is for a betterment
I don't live in NYC .. I am not Doc
So any opinion I might have will be purely academic and ..... that's how public school teachers teach .... via the academics of what they've been told to say .... neither one of us really know what we're talking about
I remember Keough (sp?) and IMO, (from what I remember) the property was a prime piece of real estate and the reasoning for the ED was off the wall
I have a lousy memory but as I recall ... Keough was government theft