In re Murphy

We aceépt the finding of the court below that the fair value of the property with the improvement is $250,000.

The current assessment of the property is $194,000 of which $182,000 is ascribed to the land, $12,000 to the building. Applying this same ratio to the $250,000 figure, we find that, for the purposes of this litigation, the value of the land is $234,536, the value of the buildings is $15,464.

We find, as the court below held that, as to the buildings, the landlord is entitled to the 8% which is presumed by the statute to be a reasonable return (Business Rent Law, § 4, subd. 1; L. 1945,…