Attorney David Hershey-Webb wrote in the NY Law Journal (see below): "The new law provides that a rent stabilized apartment cannot be deregulated unless the prior tenant's legal regulated rent is $2,700." (That's different from the general landlord practice of taking an apartment whose rent was low and raising the price through real or claimed improvements.), New York Law Journal
The new law supports the court decision under the previous law, Altman, decided by NY State's mid-level court. Landlords have been trying to appeal that case, so far without success. If the appeal is denied in Altman, the new law will certainly stand!