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Illegal Lofts In New York City: Have The Equities Been Balanced, Jay Facciolo
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 …
Weisner Revisited: A Reappraisal Of A Co-Op's Power To Arbitrarily Prohibit The Transfer Of Its Shares, Harvey S. Epstein
Weisner Revisited: A Reappraisal Of A Co-Op's Power To Arbitrarily Prohibit The Transfer Of Its Shares, Harvey S. Epstein
Fordham Urban Law Journal
Recently, there has been a rise in cooperative ownership in New York City. As a result, the boards of co-ops play a more pivotal role in who may reside in the City. The New York State legislature is moving to limit discriminatory practices by board members. While it does so, this Note concludes that the legislature must also balance the co-op's interest to choose its shareholders. The Note advocates a "reasonableness standard" to judge purchaser rejection decisions.