Alpert v. Hilker, Harris & Horrax, Inc.

Section 2 of the Commercial Rent Law (L. 1945, ch. 3, as amd.) provides that the emergency rent shall be the rent on March 1, 1943, plus 15% thereof. Where commercial space was not used or occupied on March 1,1943, for commercial purposes, the section declares that the emergency rent shall be the reasonable rent therefor as of that date plus 15% thereof, to be fixed by agreement, by arbitration or by the Supreme Court upon the basis of the rent charged on such date for the most nearly comparable commercial space in the same building or other rental area or other satisfactory evidence.

Section…