Waterfront Property And Pier
I live on a navigable river and have a pier. A vacant lot next to me recently sold and the new owner is building a house and wants to build a pier. Due to the fact that the river curves in front of our properties, government regulations, setbacks, riparian rights, etc. for him to build a pier he will need me to allow him to build the pier within 1 foot of my property line. Regs allow you a corridor of 25 feet per side and to follw the letter of the law, he can’t build one without my permission He wrote me a letter and is politely requesting permission to build within 1 foot of my property line in the marsh area. I want to be a good neighbor, but I also think I should be entitled to some compensation. If he builds a pier, the only negative for me is it will slightly obstruct my view on a portion of the river, but not much. My view is already partially obstructed by 2 other piers. Has anyone ever had a similar situation? I want to be fair and a good neighbor but would like to know how much I should be compensated.
I’ve extracted the lot value with and without the ability to add a pier and it’s 90-100K difference. The encroachment analogy is accurate. His lot is essentially “landlocked” regarding a pier permit and always has been. I would have to agree to a subservient easement of sorts. The view obstruction may not bother me, but it will most certainly affect future marketability negatively, although it may be minimal. The market pays a premium for water front or water view, not a pier view. Reading between the lines it’s evident from the letter he wrote that he’s aware of this although he didn’t directly address it. Also, the price he paid was for a lot without pier rights.
Keep us up to date on what you decide to do on this.