In re Flatto

The reasonable rent, under the statute (L. 1945, ch. 3, § 4, subd. 1, as amd. by L. 1950, ch. 327) and the decisions (Matter of Fifth Madison Corp. [Arthur Murray, Inc.], 276 App. Div. 831, affd. 301 N. Y. 772; Matter of Murphy [Blasio], 278 App. Div. 814) is to be computed as of the date of the application rather than the date of trial or judgment. Taking the figures of Special Term as to 8% of the assessed value on land and building, adding real estate taxes, and operating expenses from May 1, 1949, to April 30, 1950, and considering the relative value of store and basement space with the…