Quote:
Originally Posted by PCTECHMAN
What is the going rate or formula for a lease buyout? (Not rent controlled or stabilized) I have 1.5 years left in a 2 bedroom 2 bath apartment. 1550 current rent in Suffolk County NY. Landlord offered the other 7 tenants in the building 2 months rent to break the lease which I thought was too low. Only one tenant took the offer so far. New owner wants to gut the building and needs everyone out.
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there is no formula .... each situation stands on its own ... we offered 100k in manhattan to stabilized tenants in a co-op over looking central park ..we wanted to sell them ... on the other hand we would offer zero just to move so we could have increased the rent
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