Destabilizing a Rent Stabilized building post 2019 in NYC

[Barry Sanders]

Is there anyone that invests in New York City multifamily that has successfully de-stabilized/deregulated a rent stabilized multifamily apartment building in New York since the 2019 changes to rent regulations? 

It seems that the only way to destabilize/deregulate a rent stabilized building at this point is to do a condo or co-op conversion. I have been fortunate enough to come up on a potential off market deal which would work for condo conversion (i.e. already over 50% vacant for close to a decade).

Is my understanding that only a condo conversion would work correct? Are there other ways to get the units to market rate with out doing a condo or co-op conversion?

For those that have completed a condo conversion (architects, investor, attorney etc.) in New York (whether a rent stabilized building or free market) is there anything that I should be looking out for as I analyze this deal?