Could someone help me try to figure out how much the rent would be for an apt. which has just turned into a rent stabilized unit from a controlled unit (tenant died after some 40+ years living here)? I know what the base rent, the approximate cost of renovation and the highest rent in the line. I also know the Fair Market Rent as set by HUD. What I don't know is how all these numbers work up to the new rent.
Many Thanks in Advance
Morningside Heights resident