The plaintiffs sought over $16 million in consequential economic losses following a natural gas explosion and fire in the laundry room of their apartment building.
They claimed the explosion caused high vacancy rates, prevented rent increases, and diminished the building's value upon its sale five years later.
The court dismissed the action, finding the plaintiffs failed to prove the hypothetical losses were caused by the explosion rather than their own business decisions, such as a disruptive elevator modernization project.
The court assessed the actual diminution in value and economic loss at $156,631, which was fully offset by $162,457.81 already paid by the plaintiffs' insurer.