A Stony Brook spokesperson tells GlobeSt.com that the university has not been served with any papers yet. "Any comments, if made, would come after viewing the documents."
Last November, the University filed a deed with the Suffolk County Clerk's Office and vested title in the Property pursuant to the New York Eminent Domain Procedure Law On March 27, Gyrodyne received payment from the state of $26.3 million, which the company had previously elected to accept as an advance payment for the property.
Company officials believe the amount offered by the University undervalued the property. Stephen V. Maroney, president and chief executive officer of Gyrodyne, says the filing is a "first step toward achieving our goal of seeking just compensation for our shareholders for the property condemned by the University."
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