Penn Central Transportation Co. v. New York City [1978]
438 U.S. 104 (1978) · Supreme Court of the United States · United States
Summary
Primary multi-factor regulatory takings test.
Facts
Owners of Grand Central Terminal challenged landmark restrictions limiting development.
Issue
Did the landmark law effect a regulatory taking?
Held
No. The regulation did not go too far under an ad hoc balancing approach.
Ratio Decidendi
Regulatory takings are often assessed by economic impact, expectations, and character of government action.
Reasoning
The owners retained reasonable use and investment-backed expectations were not defeated.
Significance
Primary multi-factor regulatory takings test.
Related Cases
No related cases listed.
Exam Tips
Review the ratio and reasoning before applying this case in problem questions.