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Loft In Yonkers, NY

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Loft In Yonkers, NY

Postby pastrychef52 » Sun Feb 10, 2008 8:11 am

We are tenants in a loft in Yonkers NY waterfront area. We have a 2 years lease on the space. The building has 5 floors, 8 units, 2 on each floor. The apartments are all occupied. It is ONLY living space in all but 1 unit currently (the other 7 units are residential). MY QUESTION: the building is being sold (shortly). The current owner is unaware that anyone in the building knows this. What is the position of our leases when the building is sold? Will they remain in force? PLEASE someone give us any info that may be helpful for all of us. Everyone is nervous that we may lose our apartments!

Thanks.... Paula in Yonkers
pastrychef52
 
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Answer

Postby dealing3000 » Thu Feb 14, 2008 10:16 am

Unless your lease specifically states that you have to be out after a sale of the building then you are fine. If you have a relatively normal lease then when the building changes hands your lease will apply to the new owner just as it did the previous owner.
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