Dynamic new changes in New York loft law is creating excitement amoung landords and tenants alike. In June of 2010 the State Legislature inacted amendments to Article 7C of the Multpile Dwelling Law.
What this could mean for NYC Landlords :
- Decreased building value / loss of income
- Major expenses with regard to required conversions
- Mandated rent stabilization
- Restricted use of your commercial building
- Life leases to tenants
- Fines and penalties
We can help to resolve and minimize your exposure to these possible problems. We are one of the first law firms in NYC to be already litigating these issues.
What this could mean for NYC tenants:
- Stabilized rents
- Lifetime leases
- Loft conversions to residences
- Money to move (buy outs)
- Safeguards from landlord harassment
Our services can expedite coverage applications and potential inclusion under the new loft law.