The Loft Board's finding that the base rent of petitioner tenant's loft is $1,550 a month, not $1,100, as petitioner contends, is supported by substantial evidence. The lease terms in effect on December 21, 1982 (see, 29 RCNY 2-06; Multiple Dwelling Law § 286 [2] [i]) provided for an annual rent of $18,600, monthly rent payments of $1,550, and a "construction allowance" of $450 a month to be credited towards the tenants' monthly payments if the tenants, upon accepting...
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