9 NYCRR § 2102.3 — Grounds for increase of maximum rent (State Rent & Eviction Regs., via Cornell LII)

Citation
9 NYCRR § 2102.3 — Grounds for increase of maximum rent (State Rent & Eviction Regs., via Cornell LII)
Jurisdiction
New York (state)
Source verification
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Original Source
https://www.law.cornell.edu/regulations/new-york/9-NYCRR-2102.3 ↗

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(v)
any other facts and circumstances surrounding such sale which, in the judgment
of the Administrator, may have a bearing upon the question of financing. No
application for adjustment of maximum rent based upon a sales price valuation
shall be filed by the landlord under this subdivision prior to six months from
the date of such sale of the property. In addition, no adjustment ordered by
the Administrator based upon such sales price valuation shall be effective
prior to one year from the date of such sale. Where, however, the assessed
valuation of the land exceeds four times the assessed valuation of the
buildings thereon the Administrator may determine a valuation of the property
equal to five times the equalized assessed valuation of the buildings, for the
purpose of this paragraph. The Administrator may make a determination that the
valuation of the property for the purposes of this subdivision is an amount
different from such equalized assessed valuation where there is a request for a
reduction in such assessed valuation currently pending; or where there has been
a reduction in the assessed valuation for the year next preceding the effective
date of the current assessed valuation in effect at the time of the filing of
the application.

(2) For
the purposes of this subdivision the following terms shall mean and include: