landlease

… sometimes known as ground lease or landlease buildingshave long been known as one of the quirkier options in the NYC real estate ecosystem While the apartments are a relative bargain … buildings And they only exist in two places Roosevelt Island and Battery Park City In both neighborhoods leasehold …

… land under the Lenox Hill coop tower has decided to sell it Bloomberg News reports leaving residents with two bad options buy the land themselves or face sizable rent increases from a new landlord when their lease expires … cost that would be passed on to residents and likely take years to pay off In that scenario each shareholder …