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but if it is in fact a co op apartment, what does that even mean?
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Here's my two cents and it may be worth only that.
A friend rented a co-op in Rego Park. It was a "sponsor apartment," i.e., one that had never been sold since the former rental went co-op.
She was given a lease that had one renewal at the Rent-Stabilization rate and after that second year she was told basically buy or move." She had no stabilization rights to a new lease, that presumably those living in the complex BEFORE the co-opting had...to live there for the rest of their lives if they wished.
She bought at what turned out to be a TERRIFIC price and is living there pretty cheaply now.
yeezu,
You may be in exactly that type building. You can live there at rent stabilization increases but only at the behest of the landlord. You likely do not have the rights normally conferred by the rent stabilization law.
I hope that all sounds plausible. Like I implied, it's all second hand info.