Joel Israel testified for the first time at his contempt hearing for not making repairs at 98 Linden Street as he has agreed to do.
One of the worst fires ever in Chinatown ravaged three apartment buildings in April 2010 and left 200 people homeless.
Under the proposal, a one-year lease could see a rent increase from 3.25 percent to 6.25 percent. A two-year lease could go up from 5 percent to 9.5 percent, according to the rent board.
A preliminary decision was issued Tuesday for raising the rents on rent-stabilized apartments in New York City.
Hundreds of New York City residents filled Cooper Union on Monday night to fight against rent increases for rent-stabilized apartments. But their wishes would go unfulfilled.