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commercial loft conversion

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commercial loft conversion

Postby hans » Sun Nov 02, 2008 2:17 pm

Hey there,

I am currently a resident of a commercial building in the South Bronx and am looking into moving. However my roommates and I have invested a considerable amount of time, labor and capital into the renovations we made on a COMPLETELY empty space. I am curious to know whether I can squeeze any money out of the improvements I made on the space? Granted I understand that several facets of this situation will have to go undeclared (shower etc.) But simple things like wall construction, plumbing and electrical I was hoping to get a return on. Thanks for any advice.

Hans
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Postby TenantNet » Sun Nov 02, 2008 3:04 pm

You should check with the Lower Manhattan Loft Tenants
http://www.lmlt.org/
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Postby hans » Sun Nov 02, 2008 3:13 pm

the loft law does not apply to my space. but thanks
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Postby lofter1 » Sun Nov 02, 2008 7:44 pm

The improvements you made could have value to your LL and thereby the LL might be interested in purchasing them from you (rather than have you take them away when you move out).

However if your lease states that fixtures / improvements added by a Tenant must be removed at lease end and that the space must be returned in original "raw" condition then you might be stuck between a rock and a hard place. Your fixutres DO have value but you might be unable to get that value from them and be compelled to either trash the fixtures or leave them for the LL's use & profit.

Such are the problems involved in Loft living.
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