Appendix A: Guidelines Adopted by the Board

A1. Apartments & Lofts

On June 26, 1995, the Rent Guidelines Board (RGB) set the following
maximum rent increases for leases commencing or being renewed on or
after October 1, 1995 and on or before September 30, 1996 for rent
stabilized apartments:

        One-Year Lease        Two-Year Lease
              2%                    4%

A supplemental adjustment of $20 per month may be added for apartments
renting for $400 or less as of September 30, 1995.  For tenants entering
new leases the increases are the same as renewal leases, except an 8.5%
vacancy allowance may also be charged.    Under Order 27, owners will be
permitted to collect the vacancy allowance if vacancies occur during
consecutive guideline periods; that is, even if a vacancy allowance was
collected for the same unit under the previous order.  No vacancy
allowance can be taken under Order 27, however, if the apartment first
enters rent stabilization within the guidelines period (from October 1,
1995 to September 30, 1996).

Any increase for a renewal lease as well as any for the vacancy
allowance may be collected no more than once during the guideline
period.

For Loft units that have met the legalization requirements under Article
7-C of the Multiple Dwelling Law, the Board established the following
maximum rent increases for leases commencing or being renewed on or
after October 1, 1995 and on or before September 30, 1996 for rent
stabilized apartments:

        One-Year Lease        Two-Year Lease
              2%                    4%

Leases for units subject to rent control on September 30, 1995 which
subsequently become vacant and then enter the stabilization system are
not subject to the above adjustments.  The rents for these newly
stabilized units are subject to review by the New York State Division of
Housing and Community Renewal (DHCR).  In order to aid DHCR in this
review the RGB has set a special guideline of 45% above the Maximum
Collectible Rent paid by the prior tenant or 35% above the Maximum Base
Rent, whichever is greater.

A.2  Hotel Units

On June 26, 1995, the RGB set a maximum allowable increase of 0% over
the lawful rent actually charged and paid on September 30, 1995 for
residential lodging houses, rooming houses,  Class B hotels, single room
occupancy and Class A residential hotels. The guidelines will apply to
leases commencing or being renewed on or after October 1, 1995 and on or
before September 30, 1996.  The guidelines do not limit rental levels
for commercial space, non-rent stabilized residential units, or
transient units in hotel stabilized buildings.