In three transactions from 1986 to 1992, an Orthodox real estate developer named Ivan Soclof purchased two adjacent houses and a parcel of undeveloped property for a total of $600,000.
Another use of the condemnation power occurs when a governmental body condemns the development rights in a given parcel of property.
The land, part of an undeveloped parcel of property, right off Exit 23 on the Saw Mill River Parkway, is next to the Knicks-Rangers center and behind the Landmark at Eastview, a corporate research park.
And their early support for overhauling the property tax system helped lay the groundwork for today's action, when the Legislature ended a 62-year-old system and agreed to support a timetable to reassess all parcels of property in the county by 2003.
It is also offering to turn over a parcel of undeveloped waterfront property that is zoned for a 10-story condominium.
Recognizing the benefits, New York State now offers an incentive -- $5 in state aid per parcel of property -- to local governments that revalue annually.
The tax would cost the owners of each parcel of property $34 per year and raise an estimated $6 million to boost the district's $80 million budget.
TO the residents of Fenwick, the section of Old Saybrook where Katharine Hepburn lived, the actress's nine-bedroom mansion facing the Long Island Sound was just called "Kate's house," while the parcel of property to the east of her driveway was just a marshy plot filled with invasive grasses and some dunes.
Elghanayan had bought the parcel of property at 217-19 West Broadway — where one or another kind of restaurant, called one or another version of El Teddy's, has stood for about sixty years — from its longtime owner, Salvatore Cucinotta, for around three million dollars.
Hotchkiss recently added a pear and apple orchard to the property, and a parcel of wetland is being used to experiment with growing rice.
