When a law firm was representing a client accused of reneging on a condo development project in the mid-Wilshire area of Los Angeles, they turned to MetroIntelligence to conduct a separate analysis.
First, we pulled historical information on new condominium projects active in the local marketplace at that time from two different sources. Next, we went out the field to compare the plaintiff's choice of competitive properties against our own analysis. What we found out was that by cherry-picking his comps adjacent to Beverly Hills, the plaintiff was hoping to extract the maximum amount of damages from the defendent.
However, our own analysis showed that a combination of more appropriate comps and a second opinion on building costs at that time meant that had the project been built, it actually might have LOST money, and even in the best-case scenario would've earned perhaps 10% of the plaintiff's original estimates.