Assembly Votes on Loft Law

New York, NY —

New York's Assembly has voted to extend a law that protects tenants living in lofts. It's set to expire tomorrow. There are about 395 loft buildings in the city. Most are located in neighborhoods like Chelsea, lower Manhattan and Soho, where industry once filled the spaces.

Since 1982, the law has protected tenants who moved into commercial buildings and converted them into private homes. The practice was especially common among artists. The assembly bill extends the loft law through May 2008. Assembly Speaker Sheldon Silver says the Senate is onboard with the legislation. Its vote is still pending.