Gsilverstein
Sep 3, 2006, 05:49 AM
The building that I now live in has just recently been sold.
(New York City location) The management of the new owners has approached me for a meeting to discuss a possible buy-out of my existing lease. I still have 1 year left on my lease, paying rent that is well below the market rate. Coupled with that, my apartment is rent stabilized, so even after my lease is up, my rent can only be raised so much.
My question is: What would be the optimum amount of money I could expect the new ownership to agree to pay me to move now?
Thank you..
Gsilverstein
(New York City location) The management of the new owners has approached me for a meeting to discuss a possible buy-out of my existing lease. I still have 1 year left on my lease, paying rent that is well below the market rate. Coupled with that, my apartment is rent stabilized, so even after my lease is up, my rent can only be raised so much.
My question is: What would be the optimum amount of money I could expect the new ownership to agree to pay me to move now?
Thank you..
Gsilverstein