Campbell Quoted in Real Estate Weekly Article on Obtaining Zoning Special Permit for 111 Mercer Street Building

Land Use special counsel Valerie G. Campbell was quoted in a Real Estate Weekly article about the City Planning Commission’s recent decision granting Kramer Levin client, Mercer 111, LLC, a special permit for the historic building at 111 Mercer Street, bypassing the 1971 artist-in-residence zoning law (A.I.R.), found in the areas of Soho which are still zoned for manufacturing use, that restricts the sale of residential condos to non-artists. Ms. Campbell was quoted as saying that, as sales of these lofts have become more difficult and the neighborhood has changed since A.I.R. went into effect 40 years ago, local residents and the community board have started to be more open to examining other options for those spaces. As a requirement of the permit, Mercer 111, LLC will restore and maintain the building, with inspections taking place every five years. Ms. Campbell also said that the permit would likely have little to no impact on the ability of artists to continue to live in the neighborhood, due to the fact that the building was previously vacant and no artists or residents would be evicted or pressured to leave.