Howscott Realty Corp. v. McGoldrick

This is an application to annul a determination of the State Rent Administrator affirming an order of the local rent administrator which denied petitioner a rent increase for its building 162-164 East 82d Street, Manhattan. The respondent found that the petitioner’s present rent roll for the premises affords it an adequate return, 4% of the assessed value, and that, therefore, no increase is justified.

The chief ground of attack by the petitioner is that the respondent adopted the assessed rather than a higher and what the petitioner contends is the true value of the property as the base on…