Building Rent Stabilized After HPD Set First Rents

Tenant complained of a rent overcharge. Landlord gave tenant a series of vacancy leases instead of renewal leases, and charged improper increases. The DRA ruled for tenant. Landlord appealed, claiming that the building wasn't rent stabilized. Landlord was a housing development fund corporation formed under Article XI of New York's Private Housing Finance Law. Landlord claimed that the building was regulated by HUD and HPD. The DHCR ruled against landlord. Under a loan agreement, landlord received financing from the City of New York and HPD set tenants' initial rents. All rents thereafter were subject to rent stabilization.

Shamsid-Deen: DHCR Adm. Rev. Docket No. UD410004RK (8/11/06) [3-pg. doc.]