StreetEasy Forums · Sales

Is this a land lease?

Started by NY67

about 10 years ago

Posts: 2

Member since: Dec 2015

Discussion about

I understand that the lease expires in 2058 but the rent gets reset in 2027! any thoughts what it might come up to?

Response by NWT

about 10 years ago

Posts: 6643

Member since: Sep 2008

Which building?

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Response by Admin2009

about 10 years ago

Posts: 380

Member since: Mar 2014

uhhhhhhhhhhh . . . . . . . what building ? ? ? ? ?

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Response by fieldschester

about 10 years ago

Posts: 3525

Member since: Jul 2013

Lease means that some day, possibly sooner than you expect, the land can evaporate and then there's nowhere for the building to go.

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