Estate of Duilio Costanza - Page 26

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          [decision to purchase] on the actual lease [arrangements].”  We             
          conclude that the value of the retail office plaza on the                   
          valuation date was $510,000.                                                
               In contrast to the restaurant property, however, we do not             
          believe that the value of the retail/office plaza should be                 
          discounted to reflect the announced closing of the nearby General           
          Motors plant.  The tenants of the retail/office plaza were                  
          principally those who rented office space-–a law firm, a real               
          estate office, a State agency.  They were the type of businesses            
          that operated by making appointments with clients; the volume of            
          their businesses was not likely to be affected by the closing of            
          a nearby industrial facility.                                               
               We have found that, on December 15, 1992, the restaurant               
          property had a value of $333,000, and the retail/office plaza had           
          a value of $510,000.  We therefore hold that the Latina                     
          restaurant property located at 1370 Bristol Road and the Bristol            
          West retail shopping plaza property located at 1388 Bristol Road            
          had a combined fair market value of $843,000 as of December 15,             
          1992.  When the value of the consideration paid, a total of                 
          $26,130, is subtracted, the value of the gift is $816,870.                  
               In view of the foregoing and because of concessions,                   
                                                  Decision will be entered            
                                             under Rule 155.                          

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