Management Holding Corp. v. Weaver

Petitioner seeks to review an order of the State Bent Administrator which denied an application for an increase of rent pursuant to the 6% return formula. The premises in question were purchased on April 1,1955.

In determining this- application under section 4 (subd. 4, par. [a], cl. [1]) of the State Residential Rent Law, the Administrator used the current assessed valuation as the value of the property. An exception exists to the use of the current assessed valuation * ‘ where there has been a bona fide sale of the property within the period between March fifteenth, nineteen hundred…