Governor Andrew Cuomo signed legislation at the end of June that extends the state’s Loft Law. The effort will further the protections extended to tenants living in industrial spaces and is strongly opposed by landlords.
- Dig Deeper: Residents in buildings with loft status can live rent-free until their landlord brings the building into compliance with residential health and safety codes— a process that often takes years and can be prolonged by the tenants themselves. After the units are certified for residential occupation, residents qualify for rent stabilization. The new legislation allows tenants or landlords to apply for loft status in buildings where the tenants were in residence in 2015 and 2016.