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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 …
An Evaluation Of New York Loft Conversion Law, William Eckstein
An Evaluation Of New York Loft Conversion Law, William Eckstein
Fordham Urban Law Journal
Prior to World War II, buildings of five to ten stories, called lofts, used to house small factories, dominated lower Manhattan. As these buildings were converted to residences after World War II, laws and regulations regarding conversion were enacted haphazardly. The New York state legislature is considering a bill, Article 7C, Legalization of Interim Multiple Dwellings, designed to address the inadequacies which characterize loft conversion laws. This Note analyzes the propriety of Article 7C by reviewing the evolution of New York loft conversion law. The viewpoints of tenants, landlords, and city officials are presented in separate sections. This Note concludes …