Market-Rate Tenants in a Building Conversion

See http://www.ag.ny.gov/sites/default/files/pdfs/publications/COOP%20CONDO%20Conversion%20Handbook.pdf

Any insider discount is intended to induce RC/RS tenants to buy and compensate them for their lost rights. The landlord will generally try to vacate market-rate apartments before conversion, but there're warehousing restrictions, so you may or may not be offered a renewal lease. If there're very few RC/RS tenants, there may be little or no discount.

If a conversion is in the works, your best bet is to get together with the other tenants and form a Tenants Association, to negotiate the terms with the landlord.

they are not nor should they be obliged to offer you anything beyond the legal document you both contractually agreed to.

so if you have a standard lease they will exercise their right to not renew you, chances are good they you might get an offer to get some sort of "discount" on price