NEW YORK CITY



In the Matter of the Application of TOWER 17 LLC

Order

NEW YORK CITY

LOFT BOARD

| |Loft Board Order No. 3062 |

|In the Matter of the Application of | |

| |Docket No. LE-0474 |

| | |

|TOWER 17 LLC |RE: 15 West 17th Street |

| |New York, New York |

| | |

| |IMD No. 10106 |

ORDER

The New York City Loft Board (“Loft Board”) accepts the Report and Recommendation of Director of Hearings Martha Cruz dated May 10, 2006.

On September 14, 2004, the Department of Buildings issued a certificate of occupancy for 15 West 17th Street, New York, New York, (“the Building”). The owner, Tower 17 LLC (“Owner”), is in compliance with Multiple Dwelling Law (“MDL”) §284(1) and the Building is no longer an interim multiple dwelling (“IMD”).

On February 24, 2006, the Owner filed this application seeking to remove the Building from the jurisdiction of the Loft Board. A final rent adjustment is not necessary for the subject premises because sales of rights agreements have been executed for the sixth, eighth, ninth, and tenth floor units and the second floor unit was declared abandoned by the Loft Board in the Matter of the Application of Joseph Sabbagh, Loft Board Order No. 2333 (November 24, 1998).

Consequently, pursuant to MDL §286 (12) and 29 RCNY §2-10(f)(5), none of the units are subject to rent regulation.

Effective thirty-five days after the date of this Order, this building is no longer an IMD building and is no longer under the jurisdiction of the Loft Board.

DATED: May 18, 2006

Marc Rauch

Chairperson

DATE LOFT ORDER MAILED:

Members Concurring: Chairperson Rauch, Barowitz, Bolden-Rivera, Delaney, St. Pierre, Lusskin, Jaffe, Orrantia (8)

NEW YORK CITY

LOFT BOARD

| |REPORT AND RECOMMENDATION |

|In the Matter of the Application of | |

| |Docket No. LE-0474 |

| | |

| |RE: 15 West 17th Street |

|TOWER 17 LLC |New York, New York |

| | |

| |IMD No. 10106 |

MARTHA CRUZ, DIRECTOR OF HEARINGS

BACKGROUND

On September 14, 2004, a final certificate of occupancy was issued for 15 West 17th Street, New York, New York under certificate number 101268691. Pursuant to Title 29 of the Rules of the City of New York (“RCNY”) §2-01(i)(1), the owner of the building, Tower 17 LLC (“Owner”), was then eligible to apply for rent guidelines board increases and for rent adjustments based on the costs of compliance. The Owner applied for neither.

Instead, on February 24, 2006, the Owner filed this application seeking removal from the Loft Board’s jurisdiction.

ANALYSIS

According to Loft Board records, the building was registered with the Loft Board on January 25, 1983, and listed five units, one each on the second, sixth, eighth, ninth, and tenth floors. The final certificate of occupancy lists these same units as “class A apartments.”

Loft Board records also indicate the following regarding the interim multiple dwelling (“IMD”) units:

1. Letty Realty Corp., a former owner of 15 West 17th Street, purchased the rights to the eighth floor unit from former tenant Martha Vetter on November 30, 1983.

2. Former owner Morgan Reed W. 17th Co., LLC, purchased the rights to the ninth floor unit from Michelle Lester on February 9, 1998.

3. On November 24, 1998, the Loft Board determined that the second floor unit had been abandoned in the Matter of the Application of 15 West 17 Street, Loft Board Order No. 2333 (November 24, 1998).

4. Former lessee of the building, 15 West 17th Street, LLC, purchased the rights to the tenth floor unit from former tenants Brian Kelly and Julia Kelly on November 22, 2004.

5. Tower 17 LLC, the current Owner, purchased the rights to the sixth floor unit from Yitzchok Meisels on January 31, 2006.

Consequently, pursuant to Multiple Dwelling Law (“MDL”) §286(12), and 29 RCNY §2-10(f)(5), none of the IMD units are subject to rent regulation and the building should be removed from the Loft Board’s jurisdiction.

RECOMMENDATION

Based on the foregoing, I recommend that the Loft Board determine that the Owner is in compliance with the legalization requirements of §284 of the Multiple Dwelling Law and that IMD units two, six, eight, nine and ten are not subject to rent regulation.

________________________

Martha Cruz

Director of Hearings

DATED: May 10, 2006

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