In May 1994, respondent Katz 737 Corp. (owner) filed a petition for high income rent deregulation with respondent DHCR regarding petitioners-tenants' apartment located at 737 Park Avenue. The Rent Stabilization Law (RSL) permits deregulation of apartments with a legally regulated rent of $2,000 or more per month as of October 1, 1993, and whose tenants and occupants have a total annual income in excess of $250,000 for each of the preceding two calendar years (RSL [Administrative...
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