Owners of an IMD building(s) are required to register their building(s) by June 30th of each year that it is covered under Article 7-C of the Multiple Dwelling Law, until the building is removed from the Loft Board’s jurisdiction. Registration fees are $500 per residential IMD unit.
If an Owner fails to submit the Annual Renewal Registration Application and the associated fee by July 31st, the Loft Board will assess the Owner a late filing fee of $25 for the month of July for each residential IMD unit. Thereafter, the Loft Board will assess the Owner an additional late filing fee of $5 per residential IMD unit the date when the application is submitted and the fee is paid.
For more information about the registration fee increase, see 29 RCNY § 2-11(b)(1)(i).
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