Wile v. McGoldrick

The State Rent Administrator in a proceeding under subdivision 4 of section 4 of the State Residential Rent Law (L. 1946, ch. 274, as amd.) and subdivision 5 of section 33 of the State Rent and Eviction Regulations has granted a 15% overall increase in maximum rents of the controlled tenants in the respondent hotel. Therein, the value of the property was fixed at $1,900,000 and a 6% return was fixed thereon. This finding was based upon a sale of the realty in November, 1951. The documentary evidence discloses that the sale price of the realty was $1,500,000.

The respondent landlord claimed…