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MATTER OF WALLBAR REALTY CO. v. CONCILIATION & APPEALS BD. OF THE CITY OF NEW YORK

83 A.D.2d 526 (1981)

In the Matter of Wallbar Realty Co., Respondent, v. Conciliation and Appeals Board of the City of New York, Appellant

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

July 23, 1981

The respondent, Conciliation and Appeals Board of the City of New York (CAB) utilized a formula previously approved by this court in determining the fair market rental for this apartment. In arriving at its determination, the CAB averaged two statutory criteria. Initially, a rent was derived from a comparability study of apartments in the same area, which figure was submitted by the owner. This figure was then averaged with a rent figure as determined by a special rent guidelines...

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