Is Rent control applicable?

[JPH Inc]

We just finished a renovation of a 150 year old building in our downtown area. The main floor has been a restaurant for years but the 2nd and 3rd floors were vacant for 60-75 years. We have totally redone the 2nd and 3rd floors and they are beautiful new york loft style apartments. I am not 100 percent sure what the 2nd and 3rd floors were back in the 1920's-60's, but it appears they were a boarding house/apartments. These floors hadn't been touched in 100 years. Still had knob and tube, still had original claw foot tubs etc.

My question is, would we fall under the rent control of November 15, 2018? I feel we are, but one could say it was used for residential rent before (75 years ago). It was unlivable before we renovated as none of the services were in working order and the property was in disrepair... basically a condemned building (2nd and 3rd floor)

Thanks for your comments

Martin

[Lee]

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