45 N.Y.S. 785 | N.Y. App. Div. | 1897
This is a.proceeding initiated under chapter 189 of the Laws 'of 1893, entitled An act to provide for the sanitary protection of
Tested by- these rules, we think the' award of -the’ commissioners should stand. The property acquired from the appellants adjoins • Kensico lake or reservoir. It was purchased by the appellant Smith in the year 1890. The land was taken from him in 1893'. The "entire purchase of "Smith, which consisted of several tracts bought- from different owners, contained about 170 acres, and was obtained for about $25,000. A great part of the land seems to be of a rough character, being rocky "and with "very sharp declivities. Smith acquired the property for the purpose of dividing it up into building plots and marketing it in that shape. . The evidence shows that he has marketed a number -of lots. These have been sold on the installment plan, and, in many cases, but a small part- of the pur- , chase, money has been paid, and no deeds, have as yet, been given.' Ho ’ substantial expenditures seem to. have been made on the property for the purpose of preparing it. for building sites, and but two structures have been built. The most that seems to have been done in this ■ direction has been the preparation of maps and the division on "the-map of the tracts into lots, and in advertising. The evidence of the landowner -showed sales of- .these■ lots at prices ranging from $5.0 to $300, and expert evidence was introduced to the effect that such was. their’ market value! On behalf of. the city, a number of real estate agents familiar with the value of -land in the-vicinity, and cognizant of" the sales in that locality, testified that the land was worth from $100-to $500 an acre. The first plot taken by the city contained 12-J acres, and' for this the commissioners awarded $17,680; the second plot contained .12J acres, and for this the commissioners awarded $9,000,-being at'the rate of nearly $1,500 an acre for the first piece and nearly $750 an acre for the second" piece. The
It will thus be seen that there is the greatest discrepancy in the opinions of the witnesses as to the value of this property, and also between the amount awarded by the commissioners and that claimed by the landowners. Here, also, the appellants claim that the commissioners erred in principle, in permitting evidence to be given of the value of the property by the acre. Hit is doubtless true, and settled by authority, that the landowner is not limited in compensation to the use which he makes of his property, but is entitled to receive its greatest valué for any purpose. But still it is the market . value of the property that is the. measure of the compensation. When, therefore, it is sought to show that a tract of land has a use for a particular purpose, it must also be shown that it is marketable for that purpose, or has an intrinsic value. If on a farm there was a quarry or deposit of ore, the owner would not be limited to the value of the land as a farm, but would be entitled to compensation for the quarry or mine, if it enhanced the value of the land. But though the stone of the quarry was good, or the ore rich, if the location of the land was such, either from lack of transportation facilities or for other reasons, as to render the quarry or deposit of no practical advantage or value, then he would be confined to the value of his land for farming purposes. So in this case as to villa sites. Nearly, any tract of land or any farm can be cut up into lots or villa sites. The question is not whether it can be so subdivided, but whether purchasers for the lots can be found, and also ho.w speedily founds For if only small parts can be sold at intervals, and a number of years must elapse before the whole property can be disposed of, it is apparent that it would be unfair to take as the present value of the property a sum only to be realized after a long lapse of tiine.J The . evidence in this case shows that purchasers had been secured by exceptional means — extraordinary commissions given to brokers, excursions and the like. Practically, no settlement has been established at the place. Nearly every one familiar with the territory around New York has witnessed the sites of villages and towns laid - out on farms, or at times in the woods, with nothing on the ground to denote the existence of village or town, save boards bearing the names of untraveled avenues. Lots are at times sold on such tracts
The award and report of the commissioners should be affirmed, with ten dollars costs and disbursements.
All concurred.
Award and report of commissioners - affirmed, with ten dollars costs and disbursements.