King Varick Corp. v. Omin

Plaintiff is the landlord, and defendants are the tenants of a loft at 200 Varick Street, New York City. The premises are controlled by the Commercial Bent Law (L. 1945, ch. 3, as amd.).

On October 22, 1941, the defendants’ predecessors leased the loft until April 30, 1947, at an annual rent of $8,000, payable $666.67 a month. Defendants, who are copartners, assumed performance of this lease from April 1, 1945, and have been in possession since.

After the expiration of the lease and commencing May 1, 1947, defendants became statutory tenants and paid a 15% increase making the rent $766.67.

By…