No rent benefits for loft renters

Tenants in loft law units sought rent regulation protection based on 2010 amendments. 59 Crosby Street in Manhattan was an interim multiple dwelling covered under the 1982 loft law. This law required an owner to convert an interim multiple dwelling building into legal residential premises and obtain a certificate of occupancy. The owners of 59 Crosby in 1984 purchased the rights and improvements to the fifth-floor interim multiple dwelling unit from the then-current tenant. In … <Read More>