Building Renovated with State-Insured Loan

Tenant complained of a rent overcharge. The DRA ruled for tenant based on landlord's failure to submit a complete rent history. Landlord appealed and won. Tenant's building had been substantially rehabilitated after July 1, 1978, with a loan insured by the State of New York Mortgage Agency (SONYMA). Under Section 2429 of the Public Authorities Law, tenant's rent became subject to rent stabilization after a first rent was set. Landlord had submitted proof of tenant's first rent effective July 1, 1982, and of proper renewal leases thereafter. So landlord had submitted a complete rent history, and there was no overcharge.

Lafayette Kings Corp.: DHCR Adm. Rev. Dckt. No. EE210156RO (3/11/98) [2-page document]