There really is a large literature that has already worked this issue through in great detail.

The fact that economists familiar with this literature dismissively suggest giving in to extortion, with all the inefficiencies and weakening of property rights and expectations that entails, causes me to be skeptical of the quality of this work, even without having read it.

(I actually one time argued with an economist who demanded I read the classic Coase paper on externalities before discussing the issue with me, until he realized he misunderstood my position and thus the Coase paper is non-responsive.)

By the way, what fraction of your wealth would you pay to buy out the rights of all Harley revvers?