Conversion & Legalization For Loft Law Tenants
LFA Architects has a successful track record of achieving Loft Law compliance for two buildings on Prince Street in Soho, originally settled by artists and gallerists in the 1980s. We are enthusiastic supporters of the Loft Law’s expanded coverage in Brooklyn. We are available to work with Building Owners and Tenants to reach minimum compliance and/or build-out your dream space.
About the Law
In June 2010, New York legislature permanently extended and expanded the Loft Law to protect loft tenants from unfair rent hikes and eviction. Thousands of loft tenants in Brooklyn will be given the opportunity to secure housing, and Building Owners are able to convert additional units to higher earning residential spaces. It’s a win-win!
Article 7-C of the Multiple Dwelling Law (MDL), also known as the Loft Law, created a new classification of buildings in New York City known as interim multiple dwellings (“IMD”).
A few things that you should know about the provisions of the Loft Law of 2010:
Requires owners of loft buildings to achieve compliance with the standards of safety and fire protection, and take reasonable and necessary action to obtain certificate of occupancy as a class A multiple dwelling for the residential portion of the building; provides that these interim multiple dwellings become subject to the New York City Rent Stabilization Law after they are legalized; and makes the Loft Law permanent.
For more information, click here: http://www.nyc.gov/html/loft/html/home/home.shtml
Let us be your resource for meeting deadlines and achieving compliance.