Interesting NYC decision pending
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Anonymous
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So here goes...sharing here as sometimes perfect strangers shed light on things in new ways. Stepparent was an artist who moved into a Soho loft in 1962 and gradually built out the space. She passed away a few years ago, and dad sadly passed away in October. The loft is covered under the 1982 Loft Law. My son and I live in DC but have been here for the past three months to be with dad and start the process of getting rid of a loft full of items accumulated for decades, while we are schooling and working virtually. We just learned from an attorney that we can either put in an offer to the landlord to buy the "fixtures" (improvements made by the family over the years) and the right to retain the rent-stabilized lease, which of course he can refuse and match or we can sell the same to another prospective tenant. (The attorney knows one who is already interested). This transaction can only happen once in the life of a loft.
We've been visiting NYC for years as we have other extended family here but have never lived here other than the past three months. Here's the dilemma - do we try for the loft and move to the city for the next several years? Have always loved our visits here but living here seemed out of range. As I work in non-profit/philanthropy, would be looking at public school 7th grade through high school with very little knowledge of the system here. Or do we take our share of the cash and return to life in a quiet, residential neighborhood in DC (small, overpriced rental) where we moved for a strong public middle school? Area is fine, don't love it, don't hate it. Job will likely be remote until at least early summer and could probably make a case for some advantage to being in NY although not confirmed. Unsure about what kind of education environment we might find. DS is a decent student but unlikely to be highly competitive for the strongest admissions schools. Thanks for any insight! |
Anonymous
| What does your son want to do? |
Anonymous
He's adventurous ...says he'd prefer to stay in NY. He'd also easily readjust to DC especially when school goes back in person ...someday! |
Anonymous
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Move! Sounds like amazing opportunity, your son is game, and your work is conducive. You don’t have to sell a house OR find an apartment.
Regarding NYC schools, they are comparable to DC in quality but the system is totally different (applications versus lottery). Lots of great options and with an older kid, you wouldn’t be too restricted on location as it would be easy for him to take the subway a lot of places. Not being super focused on the really competitive HSs is a mark in your favor— it means you’ll have more flexibility and it will be about personality fit rather than fixating on getting into the most competitive school. I vote yes, in a heartbeat. |
Anonymous
| ABSOLUTELY |
Anonymous
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I think one great thing about moving there now is that so many people are moving out. Everyone will be happy to see you.
In the long term, I think that having SUNY and CUNY public universities as financial and academic safeties is a great deal. |
Anonymous
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I think one great thing about moving there now is that so many people are moving out. Everyone will be happy to see you.
In the long term, I think that having SUNY and CUNY public universities as financial and academic safeties is a great deal. |
Anonymous
| I would take it in a heart-beat. There will be zero opportunity to live like that any time again. |
Anonymous
+100. Sounds like an amazing opportunity. |
Anonymous
| Do it!!! |
Anonymous
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Op, did you inherit the loft? Are you saying you have the right to continue living there rent controlled? If so how much is the rent? Can you live there in a rent controlled loft and then sell the rights etc? Or if it transfer to you is that the “one” time you can transfer it? I’m a little confused what the situation is exactly.
Without knowing those details, I’d say stay in nyc and see how it goes. You can always move back to a rental in DC if it doesn’t work out |
Anonymous
OP, if you don’t do it for you or your son, pls do it for me! You would be living my dream. 
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Anonymous
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OP I think a bunch of us are obsessed with this (I lived in Manhattan with my parents in the 80s so lofts are to die for as far as I am concerned)
Please let us know what happens. I don't know. Maybe you could even post a photo of the place! |
Anonymous
OP here, well it looks like the deliberation was moot as the building owner is planning to contest the sale of rights and improvements and will buy them, which according to the law gives the owner the right to take back and de-rent stabilize a previously protected unit. So we won't stay after all and an era will close. The place is a true piece of history - the story of the block the building is on captured in this article:http://static1.squarespace.com/static/5451873de4b008f3c5898336/t/54cfbedee4b092432af5f5f8/1422900969104/DRIw1.pdf. Also happens to be the street with a rare Federalist era house still occupied by sculptor Donald Judd's fabricator. So farewell to one of the last lofts with original art dating back to the 60s that in a few months will likely look like a much more generic space like its neighbors. Happy to share photos if anyone provides an email or other way to receive them. Also have many interesting paintings to give away as our family can only take a few, in case anyone would like to see photos. Hopefully the last poster has shared your own story of growing up here with the Soho Memory Project. |
Anonymous
thanks for the update OP and the link and very sorry it didn't work out |