Laurel Printing Co. v. Starrett Realty Renting Co.

The facts in this case are virtually undisputed. On July 22, 1947, the plaintiff as lessee and defendant as lessor entered into a lease for the ninth floor of the premises located at 601 West 26th Street. The premises were then vacant and plaintiff had never occupied them previously. The rental was $42,618 per annum. The emergency rent as provided in the Commercial Rent Law (L. 1945, ch. 3, as amd.) was $27,558.12 per annum. The term of the lease was five years and four months. Prior to the execution of the lease there was a purported arbitration to fix the reasonable rent but the arbitrator…