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Roosevelt Island - Land Lease - what happens after the lease expires?

Started by tobytoby
about 16 years ago
Posts: 168
Member since: May 2009
Discussion about
Condos on Roosevelt Island are built on leased land. Supposedly there is another 60 yrs left on the lease from the city of new york. What happens when the lease expires? Anyone knows? Thanks
Response by DougW
almost 5 years ago
Posts: 0
Member since: Nov 2020

So, does any one know the answer 11 years later?

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Response by NYYH
almost 5 years ago
Posts: 32
Member since: Jul 2014

you will have to collectively renegotiate a new lease(usually the market rate at the time and pay for the lease). simple as that.

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