Dov Treiman's blog
Effective Dec. 2, 2015, there will be several amendments to the NYC Administrative Code with respect to landlords making buyout offers. Some of these amendments will call for changed practices. Others will call for the development of a form. No matter what, landlords are going to have to change their practices and proceed with extreme caution.
The Loft Law and several related laws set procedures to protect and preserve residential occupancies in buildings that were originally built for commercial use by ensuring renovations to these buildings to bring them up to the safety standards that are normal in apartment buildings. Not all commercial buildings qualify for this process. Those that do are called “interim multiple dwellings” (IMDs).