Housing Law Commons^™

Illegal Lofts In New York City: Have The Equities Been Balanced, Jay Facciolo

Fordham Urban Law Journal

In New York City today, tens of thousands of people,' primarily tenants, are illegally occupying lofts. These tenants have signed commercial leases, often long-term leases at rents far below the current market rate. The changing economics of loft buildings has led to serious conflicts between landlords and tenants. Landlords have sought to evict tenants before their leases expire, refused to renew their leases or demanded higher rental rates upon renewal. Tenants have withheld rent for extended periods. These conflicts have been taken to the courts, and legislation recently enacted in New York State attempts to resolve these issues for at …