N.Y. Comp. Codes R. & Regs. tit. 9 § 2522.7
In issuing any order adjusting or establishing any legal regulated rent, the DHCR shall take into consideration all factors bearing upon the equities involved, subject to the general limitation that such adjustment, establishment or determination can be put into effect with due regard for protecting tenants and the public interest against unreasonably high rent increases inconsistent with the purposes of the RSL, for preventing imposition upon the industry of any industry-wide schedule of rents or minimum rents, and for preserving the regulated housing stock. DHCR shall take into consideration all factors bearing upon the equities involved, including the creation of undue hardship or prejudice in determining the retroactive application of orders which create rent arrears.
N.Y. Comp. Codes R. & Regs. Tit. 9 § 2522.7