Ridgewood

You may remember in June when Loft Laws were passed in three of Brooklyn’s industrial zones, giving tenants the option of rent stabilization and forcing landlords to bring loft buildings up to code. Bushwick BK revisits the topic, touching upon some questions brought up in a recent town hall meeting. While landlords have six months to register illegally converted lofts with the city, no one knows how much money it will cost to bring buildings up to code or how much of that cost can be passed along to tenants. Attorney David Frazer commented, “It’s going to be very costly to legalize…The easiest way to do that is to get rid of tenants, and you’re going to have to start looking for ways to protect yourself.” There was also concern loft laws would drive out manufacturing in the area, but Loft Board Member Chuck DeLaney retorted that, “Having you here is a lot better for manufacturing than having the people who would replace you through gentrification.”
One Month Later, Loft Law Confusion Reigns [BushwickBK]
New Loft Law Passed [Brownstoner]
Picture by Jeremy Sapienza for BushwickBK.com