Posh Ventures LLC/Hotel Modera – Diminution in Value Litigation
We represent the owner of a high-end boutique hotel that acquired the property at a time when the property had two access points for vehicles, one off of a main thoroughfare. As part of a transit project, the City of Portland and the Tri-County Metropolitan Transit District (Tri-Met) closed the main access point for the hotel. On behalf of the hotel owners, we sued the City and Tri-Met for diminution in value caused by the lost access under a little used statute. In a case of first impression, we tried the matter to a jury over a two week period. Our client’s realistic damages claim was $1.3 million, and the defendants never offered more than $200,000 to settle the case. The jury returned a verdict in favor of our client, awarding $756,000 in reduced value as a result of the lost access.
Tri-Met has appealed the jury's decision. We represented Posh Ventures on the appeal. Oral argument was in December 2010 and the appeal remains pending.
Bruce H. Cahn (litigation partner) represented Posh Ventures LLC during litigation and at trial.