MATTER OF R. E. DIETZ CO.


279 A.D. 742 (1951)

In the Matter of R. E. Dietz Company, Respondent-Appellant, and Green-Laight Realty Corp., Intervener, Respondent-Appellant. Port Warehouses, Inc., Appellant-Respondent

Appellate Division of the Supreme Court of the State of New York, First Department.

December 18, 1951.


The reasonable valuation of the premises should have been fixed at $300,000; allowing 8% thereof, or $24,000, as income and $17,500 as expenses, there should have been a gross rental of $41,500. However, from that total there should have been deducted $16,750 which was approximately the amount that the landlord conceded was the rental value for space which was vacant, leaving a net rental of $24,750, which sum the trial court decided was the fair rental value of the commercial...

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