200-year land lease

Doesn't make sense.

Rent is *less* than CPI? Why would a landowner make a gift to strangers instead of to her heirs?

The landowner never pays the taxes, as they're not forseeable.

By "part of the building", do you mean the landowner also has shares in the co-op?

200 years doesn't matter. The co-op still owns nothing at the end. Ask Trinity Church whether it should've sold its land 300 years ago rather than keep it all this time.

Land lease = just say 'no'

150% (by way of example) is "a certain percentage of the increase in the CPI".

Can you say approximately what the relationship between the rent increase cap and CPI is? Is it just CPI, something lower, or something higher? There's a proper price for everything, IMO.

"Today, Trinity owns 15 acres - or 8 per cent - of the original 215 land grant acres."

Worse than selling, the idiots even gave a bunch of it away! Even stupider than the likes of Gates and Buffett who are giving away cash....

To clarify: The increase in the rent year-over-year is capped at 60 percent of CPI. As for the landlord's stake in the building, he actually owns the whole structure and has leased half of it to the co-op for 200 years; he leased the other half to commercial tenants, but it's unclear to me for how long. This arrangement obviously gives me great pause.