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Is it or isn't it?

Posted by Jennifer on April 22, 1999 at 10:41:43:

We just moved into a building built in the 1940's, it is six stories with about 8 units on each floor. It is co-op now. The people who lived in our unit were the original tenants and were paying $450. We are paying $2000 (cringe.) Two questions: I know that the landlord can bring the apartment up to market value once rent controlled tenants move out but can they raise it as much as they did? And if not, what can we do as we already signed the lease?

Secondly, does this mean our apartment is rent stabilized or are we completely unregulated?

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