Search results
Results from the WOW.Com Content Network
In 2009 the Loft Board was merged into New York City Department of Buildings. [14] That same year the scope of the law increased with the 2009 Loft Law Amendment that expanded the loft law's coverage to neighborhoods outside of Manhattan such as Williamsburg, Bushwick, and Long Island City. [15]
The 421-a tax exemption is a property tax exemption in the U.S. state of New York that is given to real-estate developers for building new multifamily residential housing buildings in New York City. As currently written, the program also focuses on promoting affordable housing in the most densely populated areas of New York City. The exemption ...
A real estate license is an authorization issued by a government body to give agents and brokers the legal authority to represent a home seller or buyer in a real estate transaction. Real estate agents and real estate brokers are required to be licensed when conducting real estate transactions in the United States and in a small number of other ...
The law was administered by the New York City Loft Board. The 1982 Loft Law should not be confused with the artists' loft law, Article 7-b of the New York State Multiple Dwelling Law nor with rent control legislation, which limits the ability of landlords to increase the rent of certain long-term tenants. The artists' loft law requires that the ...
Senator Martin Malave Dilan introduced the "Expanded Loft Law" in the Senate in 2010. The 2010 version of the bill is coded as S7178A. [1] The bill was amended in May 2010 and passed in the New York State Assembly (A05667C [2]) on June 3, 2010. On June 8, 2010, the New York State Senate passed the “Expanded Loft Law”, bill S7178A.
In New York City, apartments in single and two-family homes became deregulated after April 1, 1953. Cities and towns outside New York City were given permission to deregulate when ready. The most expensive luxury apartments in New York City began to be deregulated starting in 1958.
According to Real Capital Analytics, a New York real estate research firm, more than $160 billion of commercial properties in the United States are now in default, foreclosure, or bankruptcy. In 2024, office leasing volume rose to its highest level since 2020, but roughly 60% of active office leases went into effect prior to the pandemic. [ 5 ]
It was signed into law in 1955 as the Limited-Profit Housing Companies Law. [2] [3] It was later recodified as article II of the 1961 Private Housing Finance Law.[7] [8] Article II Limited-Profit Housing Companies refer to not-for-profit corporations, whereas article IV Limited Dividend Housing Companies refer to non-Mitchell–Lama affordable housing organized since 1927 as business ...