building at 27 East 65th Street

Commercial land leases are more common than residential, and are available for various types of commercial ventures. Land leases for parking spaces, such as an open field or parking lot, are common in cities where parking is not always readily available.

Up for reappraisal in 2027/2028. It's a problem. 6% of the appraised value of the land. Retail owner supposed to pay increase but if rent is too high, they can walk and owners get stuck with it.

Would anyone be able to direct me to additional information on the current land lease status? Is there a way to determine the anticipated increase in maintenance cost?