In this case, the previous owners of a commercial building that had been converted into residential lofts purchased the improvements in the loft from the previous tenants under the Loft Law. When the current owners bought the building, they raised rent from $440 per month to $4250 per month. When the current tenant faced eviction by the current owner, they tried to argue the unit was subject to rent control and thus they could not be evicted under Real Property Law Section 232-a, which is only available to non-rent stabilized apartments for monthly tenants. The lower court agreed with the tenants, but the Court of Appeals reversed, saying that rent stabilization laws did not apply because of the sale of improvements by previous tenants to the previous owner under the Loft Law. https://www.nycourts.gov/ctapps/Decisions/2022/Feb22/5opn22-Decision.pdf
