Madison-Fifth Realty Co. v. Abrams

This proceeding was instituted by the Madison-Fifth Realty Co., Inc., the petitioner, pursuant to article 78 of the Civil Practice Act. The landlord seeks to review an order of the State Rent Administrator which denied the petitioner’s application for an over-all increase under the 6% net annual return provisions of the statute.

The petitioner purchased 238 Madison Avenue, Manhattan, New York City, in 1945 for the sum of $94,000. He applied to the commission under the provisions of subdivision 5 of section 33 of the State Rent and Eviction Regulations for an increase in the maximum rents…