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 … <Read More>
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Tenant Waived Right to File Challenge Against Loft Board
Loft tenant filed a petition to annul a New York City Loft Board’s amended final determination that the fourth floor consisted of two separate and distinct apartment units, claiming he was the occupant of the entire floor. SMC Associates, the owner of a loft at 329 Greenwich Street, filed plans to legalize two units on the fourth floor of the building. Longtime tenant Stephen Grant challenged the legalization plan, claiming that the space on the … <Read More>