Kingsley Equities Corp. v. Gabel

Application, pursuant to article 78 of the Civil Practice Act, for an order vacating and setting aside a determination of respondent, City Bent Administrator, denying petitioner’s application for building wide rent increases based upon an alleged inadequate net annual return, is denied, and the petition dismissed.

The basis for the order herein attacked, and the gravamen of this proceeding was respondent’s rejection of a December, 1960 sale price of the building as the valuation basis for the application. Petitioner filed the application December 27, 1960, about 26 days after it had purchased…