City Bank Farmers Trust Co. v. Seconset Corp.

In this action for declaratory judgment commenced in May, 1946, the parties seek a declaration as to whether a certain lease comes within the application of the emergency rent laws (L. 1945, chs. 3 and 314, as amd.).

In 1929, the plaintiff’s predecessor leased to the defendant a building known as 38 East 57th St., in the city of New York, for a term of twenty-one years beginning April 1, 1929, and ending March 31, 1950. The lease called for a net annual rental of $30,000 for the first seven years, $33,000 for the second seven years, and $36,000 for the last seven years of the term from April…