A sale agreement between a municipality and a private party would typically call for both buyer and seller to order an appraisal, and have a simple process for resolving the difference between the two other appraisals, which is sometimes a third appraisal. This avoids the appearance of impropriety and establishes the fair market value. I sold the owner that property just a few years back for $380k. This property also has a new commercial comp of 737 William selling for about $500k. The old SnS parcel is worth nowhere near the $1.25M being bandied about.
A sale agreement between a municipality and a private party would typically call for both buyer and seller to order an appraisal, and have a simple process for resolving the difference between the two other appraisals, which is sometimes a third appraisal. This avoids the appearance of impropriety and establishes the fair market value. I sold the owner that property just a few years back for $380k. This property also has a new commercial comp of 737 William selling for about $500k. The old SnS parcel is worth nowhere near the $1.25M being bandied about.