99 Vandam Street
Loft Law prevents using bankruptcy as a tool to circumvent housing law. In 2002, Bridge Associates of Soho, Inc. (“Bridge Associates”) acquired 99 Vandam Street in the SoHo neighborhood of Manhattan. 99 Vandam is a seven-story residential loft building that has been governed by Article 7-C of the New York Multiple Dwelling Law (“Loft Law”) since approximately 1991. Loft Law governs the conversion of manufacturing and commercial use buildings to residential use buildings. The law generally requires landlords to bring buildings into conformity with the required laws and codes for residential occupancy. Since acquiring the once commercial building, Bridge Associates never received a certificate of occupancy for residential use, nor have they commenced the process to bring the property into compliance with the Loft Law.
