Getting Relief After Unwittingly Buying Building That's Rent Stabilized

Q My management company took over the management of a five-unit apartment building. Two prior owners ago, the former owner converted the building from a six-unit building to a five-unit one. And the current owner bought the building believing that it was deregulated. However, while at the DHCR office on an unrelated issue recently, we were told that the building was still rent stabilized and the last rent registrations were filed in 1985. Is there any recourse for the current owner?

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