Building Renovated Under State-Insured Loan

Tenant complained of a rent overcharge before April 1, 1984. The DRA ruled for tenant based on landlord's failure to submit a complete rent history. Landlord appealed. Landlord had advised the DRA that tenant's initial March 1983 rent was set under the New York Public Authorities law, since the building was renovated under a state-insured loan. Tenant's initial lease stated this. The DHCR ruled for landlord. The Public Authorities Law provided that for all buildings rehabilitated or constructed after 1978 and financed by a state-insured loan, tenants' rents become subject to rent stabilization after being initially set under the terms of the Public Authorities Law.

Lafayette Kings Corp.: DHCR Adm. Rev. Dckt. No. BB210189RO (5/6/96) [3-page document]