A New, New Takings Analysis Blooms in New York
Going out on a shaking legal limb, the New York Court of Appeals on June 23 refused to overturn the historic landmark designation of New York City's Grand Central Terminal. The court decreed in Penn Central Transportation Co. v. City of New York1 that the designation, which includes a scheme for transferring the development rights over the terminal to adjacent parcels, does not represent a deprivation of property in violation of the Due Process Clause.