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HOME SAV. BANK v. ASSOCS. DISC. CORP.

276 A.D. 715 (1950)

Home Savings Bank of the City of Albany, Appellant, v. Associates Discount Corporation et al., Respondents

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

May 10, 1950.

Attorney(s) appearing for the Case

Francis H. Trombly for appellant.

Michael D. Reilly, respondent in person and for Frank G. Coburn, Inc., and others, respondents.

Kenneth S. MacAffer and Elihu R. Geraghty for Hudson River Regulating District, respondent.

Jack Goodman, respondent in person, and for Benjamin L. Smith, doing business as Benjamin L. Smith & Associates, and Electra Protection Company, Inc., respondents.

Seth T. Cole, respondent in person.

FOSTER, P. J., HEFFERNAN, BREWSTER and COON, JJ., concur.

BERGAN, J.

The order fixes rentals in 1948 of the respondents, who are tenants in an office building, under the Albany Business Rent Control Law (L. 1948, ch. 679). The "fair value" of the property is the statutory basis for a judicial determination fixing a "reasonable rent" (§ 5). The assessed value is presumed to be fair value, but "other lawful evidence" of value is expressly made admissible.

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