Illegally converted Bushwick factory for sale

But owners seek Loft Law protection

New York /
Jan.January 14, 2014 03:13 PM

The owners of an illegally converted Bushwick building are looking for protection under the 2010 Loft Law even as they market the ground floor for commercial use.

The four-story property at 449 Troutman Street, between Cypress and Scott avenues, was once a factory, but sometime before 2001 was illegally converted to residential units. Now it holds 24 apartments from the second to fourth floors.

Tenants often turn to the Loft Law to be protected from eviction; the state law aims to protect tenants in the city who have lived in illegally converted factory or commercial buildings for some time. But in this case the owners are seeking protection — likely because the building is for sale for an undisclosed price with outer boroughs-specialist Pinnacle Realty, according to a report from blog WyckoffHeights.org.

The owner is listed as a “Pencil 2k LLC,” in city records.

The building was hit with several Environmental Control Board violations and a Partial Vacate Order after a fire during last summer, according to Curbed. [WyckoffHeights] and [Curbed]Mark Maurer


Related Articles

arrow_forward_ios
Toby Moskovits (Google Maps, Supreme Court of the State of New York)
Fortress files to foreclose on Toby Moskovits’ Bushwick hotel site
Fortress files to foreclose on Toby Moskovits’ Bushwick hotel site
Venn co-founders Or Bokobza and Chen Avni (Photos via Owler, The Centre for Conscious Design)
This startup creates community to help landlords retain tenants
This startup creates community to help landlords retain tenants
HRI executive director Aaron Carr and 700 West 192nd Street (Google Maps, Facebook)
Brooklyn, Manhattan tenants sue landlords over alleged 421a abuse
Brooklyn, Manhattan tenants sue landlords over alleged 421a abuse
420 Stockholm Street in Bushwick with State Attorney General Letitia James (Google Maps, Getty)
Ownership dispute at Brooklyn rental puts affordable tax break at risk, city says
Ownership dispute at Brooklyn rental puts affordable tax break at risk, city says
Silverstein Properties' Larry Silverstein and Phase I of the Denizen Bushwick at 54 Noll Street (Getty, Google Maps/Illustration by Kevin Rebong for The Real Deal)
Silverstein offers to buy half of All Year’s Bushwick rental complex
Silverstein offers to buy half of All Year’s Bushwick rental complex
The bankruptcy filing was made to protect the value of the Denizen. (The Denizen)
All Year LLC opts for bankruptcy to stop Bushwick foreclosure
All Year LLC opts for bankruptcy to stop Bushwick foreclosure
The Denizen in Bushwick with Mack Real Estate CEO Richard Mack (Illustration by Kevin Rebong for The Real Deal)
All Year files last-minute lawsuit to block Bushwick mezz foreclosure
All Year files last-minute lawsuit to block Bushwick mezz foreclosure
Clockwise from left: 248 McKibbin Street, 586 Hart Street and 345 Eldert Street (Google Maps)
Carnegie Management sued for damaging non-paying tenants’ credit
Carnegie Management sued for damaging non-paying tenants’ credit
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...