Tenants seek to annul an order of the Rent Administrator which increased rents under the 6% net annual return formula. Stripped of all unnecessary details, the vital issue to be resolved is whether the price paid by the landlord on December 2, 1957 for the property, $1,950,000, evidenced by $25,000 cash on contract, $175,000 cash down at closing, a third mortgage of $250,000 for 18 months at interest of 1%, the assumption of...
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