Land lease decision 27 E 65!

One quick-and-dirty way to estimate your downside risk is to assume the value declines to zero on a straight-line basis over the next 46 years. So, if your expected hold period is about ten years, assume a 22% loss, then compare the results to purchase alternatives and/or plausible scenarios for renting.

Land lease decision is a NO!

46 years from now your family thinks...how dumb were our grandparents?
They could have bought ANYWHERE and they bought here???
What were they thinking???

GT49, what these 2 geniuses fail to comprehend is that the current price may reflect the land lease issue.

land leases are shit, for reasons not compensated for in cheaper pricing--any moron knows that

Who in their right mind would buy an apt in a building sitting on a land lease. Owning land and leasing it to a condo or co-op has to be the best investments of all time.

Lots of people live in trailers on leased lots. If it works for them, why not?

finance 101 for morons - at the right level any investment is worth making

Do all these comments apply to Battery Park City as well? Anyone here think the city might ever not renew the lease for the buildings down there?

Right, and in a flat/down market, when people are flinchy, their horror of land-lease co-ops per se can make them cheaper than the numbers say they should be.

I'd compare to the same-vintage non-land-lease co-op across the street at 30 East 65th.

please search "land lease" on the discussions search function on here. There is a lot of discussion of such leases. You'll learn that the "drop dead" date for renegotiating the terms of the land lease is actually 16 years from now, not 46 years. Most of these situations are toxic for the vast majority of buyers.