Lo Guidice v. WallaceLo Guidice v. Wallace
Appeal from a judgment of the Supreme Court at Special Term (Torraca, J.), entered May 7, 1985 in Albany County, which granted petitioner’s application, in a proceeding pursuant to CPLR article 78, to annul a determination of respondent Zoning Board of Appeals of the City of Albany denying petitioner’s application for a use variance.
In support of that burden, petitioner presented to the Board a professionally prepared financial statement comparing the net income of the property as presently used with the net income if the use variance is granted. The statement indicates that its present use results in a cash flow as a per cent of equity invested of 3.6%, while the proposed use as a restaurant will yield a 14.2% of invested equity. However, proof that more profitable use could be made of an applicant’s land if a use variance was approved is not sufficient to show unnecessary hardship (Matter of Gregory v Board of Appeals,
Here, while it can be argued that the property would yield a higher rate of return, based on a percentage of invested
Judgment reversed, on the law, without costs, and petition dismissed. Mahoney, P. J., Casey, Mikoll, Yesawich, Jr., and Harvey, JJ., concur.