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MTR. OF REALTY & IND. CORP. v. GAYNOR

24 A.D.2d 201 (1965)

In the Matter of Realty & Industrial Corp., Appellant, v. James W. Gaynor, as Commissioner of The Division of Housing and Community Renewal, Respondent

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

December 16, 1965.

Attorney(s) appearing for the Case

Robert S. Fougner of counsel (McLaughlin, Fougner & Messing, attorneys), for appellant.

Harold Zucker of counsel (Robert E. Herman, attorney), for respondent.

BREITEL, J. P., and VALENTE, J., concur with RABIN, J.; STALEY, J., dissents in opinion in which McNALLY, J., concurs.

RABIN, J.

Petitioner is the owner of a 76-family-apartment house in the Village of North Pelham, Westchester County. In December, 1962, petitioner applied for a "fair net return" increase, basing such application upon a valuation arrived at by using the village assessed valuation as equalized. The respondent Commissioner rejected such valuation base and, employing the town assessment as equalized, found no increase...

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