In assessing this real property for the five-year period under discussion, it is necessary to consider all relevant factors affecting value. In this particular proceeding, it should be emphasized that the petitioner bought this property for $229,103 in 1965. Adjusting for inflation, the declining socio-economic condition in the South Bronx, the age of the buildings involved, their amenities and all other relevant indicia, we find that this record does not sustain an assessed...
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