MATTER OF CITY BANK FARMERS TRUST CO.


279 A.D. 991 (1952)

In the Matter of City Bank Farmers Trust Company, as Trustee under Two Deeds of Trust Made by William W. Astor, Respondent. Harry Cohen et al., Doing Business as Chelsea Desk Company, Appellants

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

April 15, 1952.


On this application to fix reasonable rent, we find the value of the property involved to be $100,000, of which $90,000 represents land and $10,000 the building. In view of all the circumstances here presented, we believe that the landlord is entitled to a 5% return on the value of the land — that is the sum of $4,500, and an 8% return on the value of the building amounting to $800, or a total of $5,300. We find the taxes and expenses of operation recognized by the...

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