2023 New York Laws › PVH - Private Housing Finance › Article 13 - Miscellaneous › 608 - Rent Regulation of Rehabilitated Multiple Dwellings Aided by Certain Federal Housing Assistance Programs.

§  608.  Rent  regulation of rehabilitated multiple dwellings aided by
  certain federal  housing  assistance  programs.  1.  In  cities  with  a
  population  of one million or more, upon completion of rehabilitation of
  a class A multiple dwelling which is aided by a  mortgage  loan  entered
  into  in  conjunction  with  a  housing  assistance payments contract in
  connection with moderate rehabilitation pursuant to section eight of the
  United States  housing  act  of  1937,  as  amended,  the  agency  shall
  establish  the  initial  rent  for  each rental dwelling unit within the
  rehabilitated  or  converted  multiple  dwelling   notwithstanding   the
  provisions  of, or any regulation promulgated pursuant to, the emergency
  housing rent control law, the local emergency housing rent control  act,
  the  emergency tenant protection act of nineteen seventy-four, the local
  rent stabilization law or any local law enacted pursuant thereto.  After
  the  agency  has set the initial rents, all rental dwelling units within
  such rehabilitated or converted multiple dwellings shall become  subject
  to the rent stabilization law of nineteen hundred sixty-nine.
2.  The  occupant  in  possession  of  such  a  dwelling unit when the
  multiple dwelling is made subject  to  the  rent  stabilization  law  of
  nineteen  hundred  sixty-nine  shall be offered a choice of a one or two
  year  lease  at  the   initial   rents   established   by   the   agency
  notwithstanding  any  contrary  provisions  of,  or  regulations adopted
  pursuant to, the rent stabilization law of nineteen hundred  sixty-nine,
  and the emergency tenant protection act of nineteen seventy-four.
3.  Prior  to  establishing  initial  rents the agency shall cause all
  tenants in occupancy of such mulitple dwelling to be  notified  of,  and
  have an opportunity to comment on, the contemplated rehabilitation. Such
  notification  shall advise such tenants of the approximate expected rent
  increase and the subsequent availability of a one  or  two  year  lease.
  Such  notification  and  opportunity to comment shall be provided before
  the rehabilitation and again after  the  construction  is  complete  and
  before the establishment of the initial rents.
4. For the purposes of this section, "multiple dwelling" shall include
  any  class  A  multiple  dwelling  having three or more units, and shall
  include multiple family garden-type maisonette dwelling complexes  under
  single  ownership  having  common facilities such as a sewer line, water
  main and heating plant notwithstanding the  fact  that  certificates  of
  occupancy  were  issued  for  portions  thereof  as  one  or  two family
  dwellings.
5. For the  purposes  of  this  section,  the  meaning  of  the  terms
  "agency",  "conversion", "non-residential property" and "rehabilitation"
  shall be the meaning provided pursuant to section eight hundred  one  of
  this chapter.
6.  The  agency  may promulgate supplementary rules and regulations to
  carry out the provisions of this  section,  not  inconsistent  with  the
  provisions of this section.