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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 ...
New York State's Multiple Dwelling Law (MDL) requires that buildings with three or more units have features one might associate with a large apartment building. For example, the law requires ...
Multifamily residential, also known as multidwelling unit (MDU), is a classification of housing where multiple separate housing units for residential inhabitants are contained within one building or several buildings within one complex. [1] Units can be next to each other (side-by-side units), or stacked on top of each other (top and bottom units).
By 1977, the New York City Department of City Planning found that 91.5 percent of the conversions were illegal [2] and 44.9 percent of those lofts were occupied by heads of households who were artists. [3] As these neighborhoods became more popular landlords attempted to substantially raise rents. [4]
HPD is currently in the midst of New York City Mayor Bill de Blasio's Housing New York initiative to create and preserve 300,000 units of affordable housing by 2026. By the end of 2021, the City of New York financed more than 200,000 affordable homes since 2014, breaking the all-time record previously set by former Mayor Ed Koch. [3]
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. The bill was signed into law by New York Governor David Paterson on June 21, 2010. [3] [4]
Borough, Block, and Lot (also called Borough/Block/Lot or BBL) is the parcel number system used to identify each unit of real estate in New York City for numerous city purposes. It consists of three numbers, separated by slashes: the borough , which is 1 digit; the block number, which is up to 5 digits; and the lot number, which is up to 4 digits.
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