"George Maciunas did not invent artists loft living. He did, however, invent loft cooperatives and in doing so became the person responsible for the creation of SoHo. When Maciunas discovered 80 Wooster Street in 1967, the building was past its prime as a commercial venue. The Miller Cardboard Company was eager to sell and Maciunas, the Lithuanian born artist-visionary, founder of the Fluxus art movement, was eager to buy… After returning to New York in 1963, Maciunas published a one page manifesto titled 'FLUXHOUSE, PLAN FOR AN ARTIST CONDOMINIUM IN NEW YORK CITY.' In it he set forth the economic problems facing artists and proposed a solution. He envisioned purchasing underutilized loft buildings by a not-for-profit corporation and renovating them to provide living-work spaces for artists. He saw communal resources for the artists and expected that in return the artists would provide services to the greater community. It took another four years before he started to implement his plan… Maciunas went on to develop sixteen buildings but maintained a special relationship with 80 Wooster Street. Fluxhouse Coop II is generally acknowledged as the first successful artists’ coop in SoHo, if not the world."
For more on the making of the co-op, check out this article by Roslyn Bernstein and Shael Shapiro on Maciunas in Gotham: A Blog for Scholars of New York City History.