Cortlandt Cafeteria, Inc. v. Cortlandt & Dey Streets Corp.

The statutory rent to which a landlord is entitled, and to which a tenant is subject, under a lease providing for a variable rental is controlled by section 14 of the Commercial Rent Law (L. 1945, ch. 3, as amd.) and by its prototype, section 13, in the Business Rent Law (L. 1945, ch. 314, as amd.), and not by section 4. Upon the expiration of such a lease — which prescribes, in addition to the percentage, a fixed, basic or minimum rent — the percentage portion of the rent is to continue without change and the fixed or minimum rent is to be increased by 15%. (See Matter of 500 Fifth Ave.,…