New York | Real Estate Law
Legal Question
I have been reading through the Emergency Tenant Protection Act for ways to remove the Rent Stabilization on my building, and it looks to me like the only ways are:
1) Convert the building to a Cooperative or Condominium
2) Bring the legal rent over $2,000
3) "Substantially rehabilitate to a family unit"
My question is: Are these the only three ways and if so what does substantially rehabilitating have to consist of?
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