N.Y. Comp. Codes R. & Regs. tit. 9, § 2201.4 – Maximum base rents effective January 1, 1972.

(1) Effective January 1, 1972, the administrator shall establish new maximum rents for housing accommodations subject to these regulations. Subject to the provisions of section 2201.6 of this Part governing collectibility, such new maximum rent for each housing accommodation shall be the maximum base rent derived by apportioning the maximum gross building rental computed pursuant to subdivision (b) of this section among the individual housing accommodations in the property in accordance with subdivision (e) of this section.
(2) Except as otherwise provided, the application of this section shall be based upon the reports submitted pursuant to sections 2201.3 and 2203.9 of this Title, as modified or adjusted by the administrator.
(3) This section shall not apply to housing accommodations for which first rents were established pursuant to section 2201.1(b), 2202.3 or 2202.22 of this Title where the rehabilitation or improvement of substandard or deteriorated housing accommodations was financed under a governmental program providing assistance through loans, loan insurance or tax abatement, or has been undertaken under another rehabilitation program no so financed but approved by the administrator.
(b) The maximum gross building rental for a property is the sum of:
1. (1) the real estate taxes charged to the property on the records of the finance administrator for the fiscal year 1971-72, after any abatement or reduction of tax so recorded;
2. (2) the water charges and sewer rents recorded against the property by the finance administration for the calendar year 1971, excluding any such rate or charges based on meter readings;
3. (3) an allowance for operating and maintenance expenses (to provide for the cost of fuel, utilities, payroll, maintenance, repairs, replacement reserves and miscellaneous charges) computed pursuant to subdivision (c) of this section;
4. (4) an allowance for vacancy and collection losses in the amount of one percent of the maximum gross building rental;
5. (5) an allowance for return on capital value, to provide for debt service and return on equity, computed pursuant to subdivision (d) of this section;
  provided, however, that where a property receives income from sources other than housing accommodations, the computation of the maximum gross building rental shall include only that part of the total real estate taxes, water rates and sewer charges and allowance for return on capital value which bears the same proportion to the total of such items as the maximum gross building rental bears to the sum of such rental plus the total income from the other souces, so that the maximum gross building rental shall be computed as follows:
  MGBR =^{MGBR × (RET + WS + RCV) + OM + VCL}/_{MGBR + CI}
  where
  MGBR = Maximum gross building rental
  CI = Commercial income
  RET = Real estate taxes
  WS = Water charges and sewer rents
  RCV = Allowance for return on capital value
  OM = Allowance for operating and maintenance expenses
  VCL = Allowance for vacancy and collection losses.
  (c)
6. (1) For purposes of computing the operating and maintenance expense allowance, a building shall be deemed to be a “normal payroll building” if the expenses for labor, including wages and fringe benefits for all employees engaged in operation, maintenance and service of the building, do not exceed $300 per year times the number of housing accommodations in the building. A building in which such expenses exceed such amount shall be deemed to be a “high payroll building.”
7. (2) The allowance for operating and maintenance expenses for a normal payroll building is the sum of the following four items, multiplied by the number of housing accommodations in the building:
  $265.58
  plus $0.36 times the number of housing accommodations in the building,
  plus $73.32 times the average number of rooms per housing accommodation in the building,
  plus $2.15 times the age factor for the building, as defined in paragraph (4) of this subdivision.
8. (3) The allowance for operating and maintenance expenses for a high payroll building is the sum of the following five items, multiplied by the number of housing accommodations in the building:
  $315.11
  plus $0.09 times the number of housing accommodations in the building,
  plus $128.31 times the average number of rooms per housing accommodation in the building,
  plus $2.93 times the age factor for the building, as defined in paragraph (4) of this subdivision,
  plus the amount by which the expenses for labor per housing accommodation per year exceed $300.
9. (4) As used in this subdivision, the age factor for a building is the number of years by which the year of the completion of construction of the building precedes 1967; provided that where the completion of construction occurred prior to 1900, the age factor shall be 67. For purposes of such calculation, construction means original construction, without regard to any subsequent rehabilitation or new certificate of occupancy.
(d) The allowance for return on capital value shall be 8.5 percent of the equalized assessed value obtained by multiplying the assessed value of the property by the 1971-1972 equalized ratio 1.754, as established by the New York State Board of Equalization and Assessment pursuant to article 12-A of the Real Property Tax Law.
1. (1) For purposes of apportioning the maximum gross building rental to individual housing accommodations, each housing accommodation is assigned a room index value based on the number of rooms therein. A housing accommodation of one room is assigned a room index value of 75, one of two rooms a value of 100, and one of more than two rooms a value of 100 plus an additional 25 for each additional room beyond two. The term room has, for purposes of this section, the same meaning as in section 2201.3(i) of this Part.
2. (2) Where a property contains housing accommodations which are not subject to control under these regulations, the portion of the maximum gross building rental attributable to controlled housing accommodations shall be a sum which bears the same proportion to the total as the sum of the room index values for all controlled housing accommodations bears to the sum of the room index values for all housing accommodations in the property, so that:
  ^MGBR(C)/_{MGBR (T)} = ^{RIV (C)}/_{RIV (T)}
  where
  MGBR = Maximum gross building rental
  RIV = Sum of room index values (as defined above)
(e)
(C) = Portion allocated to controlled housing accommodations
(T) = Total.
1. (3) The room index values assigned to each housing accommodation shall be adjusted for floor location. In a building without an elevator, the value computed in accordance with paragraph (1) of this subdivision shall be reduced by two percent for each floor above the middle floor, and increased by two percent for each floor below the middle floor. In a building with one or more elevators, the value shall be increased by one percent for each floor above the middle floor and reduced by one percent for each floor below the middle floor. As used in this paragraph, the middle floor is, in a building with an odd number of floors, the floor midway between the top and bottom floors, and in a building with an even number of floors, the midpoint between two floors so located that is has an equal number of floors above and below it.
2. (4) The maximum base rent for each housing accommodation is that sum which bears the same proportion to the maximum gross building rental (or so much thereof as is attributable to controlled housing accommodations) as the room index value of the housing accommodations, adjusted for floor location, bears to the total of such adjusted values for all controlled housing accommodations in the property, so that:
  MBR = MGBR ×^R(F)/_{Total R(F)}
  Where MBR = Maximum base rent (for an individual housing accommodation)
  MGBR = Maximum gross building rental (as adjusted, if necessary, pursuant to paragraph (2) of this subdivision
  R(F) = Room index value, adjusted for floor located, of the individual housing accommodation
  Total R(F) = Sum of room index values, adjusted for floor location.
3. (5) The administrator may make an appropriate adjustment to the maximum base rent for any housing accommodation with respect to which the landlord pays for gas or electricity or both.
(f) Except as otherwise provided, the term housing accommodation,as used in this section, refers to every housing accommodation in a property, whether or not it is subject to or exempt from control under these regulations.

(a)