Matter of Benedict

In 1919 two brothers, Sidney and Albert J. Levi, owned as tenants in common a lot in the center of the business district of Schenectady. On it was a large old-fashioned dwelling. The property was only suitable for business purposes but it could not be so used unless it was converted into stores at a large expense. Although worth $80,000 it could then be rented for but $400 a year, while the annual carrying charges were $2,500, Under such circumstances it was proposed to lease it to one Robert Glenn for twenty-five years, all taxes, insurance, repairs and other expenses to be paid by the…