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Info Pls: Impact on lease when bldg sold?

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Info Pls: Impact on lease when bldg sold?

Postby <Andrewa> » Thu Apr 11, 2002 12:16 pm

I live in a non-rent stabalized/controlled apt in NYC which is in a house that is now
going up for sale. I have a lease through July 2002.

Does anyone know what the ramifications are on the lease when the building is sold?

I would appreciate a pointer to any sort of documentation as well as an answer.
I looked at the various FAQs on this site but could find no info regarding the sale of
the building and the rights of tenants.
<Andrewa>
 

Re: Info Pls: Impact on lease when bldg sold?

Postby dakellner@kcdlaw.com » Thu Apr 11, 2002 1:25 pm

The sale of a building does not affect your lease rights. But, because your lease expires soon, you should be concerned about renewing your lease.
dakellner@kcdlaw.com
 
Posts: 22
Joined: Tue Mar 05, 2002 2:01 am
Location: New York

Re: Info Pls: Impact on lease when bldg sold?

Postby <astor> » Thu Apr 11, 2002 4:14 pm

I would start looking for a new place to rent for july........ they MUST give you a 30 day notice of non renewal or a rent increase, and 60 days if you have 2 months security or paid last months rent.

If they dont give you enough notice all you can do is stay one more month at the old rent.

Maybe start thinking about what you can sell on http://www.ebay.com to raise some cashola..

So be nice to the new owners, clean up your place, and ABOVE ALL dont complain about anything Untill you have a new signed lease in your hands!!!!
<astor>
 

Re: Info Pls: Impact on lease when bldg sold?

Postby consigliere » Thu Apr 11, 2002 6:23 pm

Under New York law, a landlord is not required to give notice of the end of a lease for a fixed term.
 
You should approach the new landlord to see what his/her intentions are. Does the new landlord intend to occupy your apartment, or does he/she intend to continue renting out your apartment?
 
 
Richard/astor wrote:
 
I would start looking for a new place to rent for july........ they MUST give you a 30 day notice of non renewal or a rent increase, and 60 days if you have 2 months security or paid last months rent.
 
consigliere
 
Posts: 613
Joined: Sun Mar 03, 2002 2:01 am


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