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The loft conversions were more profitable to the landlords than industrial use. [1] 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]
2013 Loft Law Amendment Status: In force Article 7-C of the New York Multiple Dwelling Law , commonly known as the 1982 Loft Law , was designed to protect the residential tenants of certain former commercial buildings in New York City from substandard conditions, eviction, and unfair rent increases.
The 5,400-square-foot loft that was the largest apartment for sale in New York City's Financial District at $6.39 million is going to be rented out instead. Asking price: $25,000 a month. The five ...
In 1920, New York adopted the Emergency Rent Laws, which effectively charged the courts of New York State with their administration. [ 23 ] [ 24 ] [ 25 ] The rent laws were the result of a series of widespread rent strikes in New York City from 1918 to 1920 that had been sparked by a World War 1 housing shortage, and the subsequent land ...
[1] The New York Post wrote in 1988 that "critics of 7A say it is so poorly supervised that incompetent and even corrupt administrators have gotten away with years of mispending a building's rent roll." Their page and a half expose was followed by a quarter page "A success story" about one woman (who) "administers several buildings in the 7A ...
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.
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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]
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