Lease buyout negotiations

I have been approached by my landlord who wants to do major construction to create condos in my queens building. My lease has over a year left on it, and I’m the only tenant left in the building. He is telling me he can start construction on other units before I go and he “will try to keep it down, but it might be best for me if I leave now.”
I’ve checked the building permit application online and he’s signed off that the building will be fully vacant when the project starts. Can he start with me still there, or must he wait? I’m trying to figure out how much leverage I have in these negotiations.

russwalker0638

in General Discussion 6 years and 4 months ago

4

Please log in, in order to post replies!

4 replies

Newest Oldest

mozeeatupu | 6 years and 4 months ago

string(1) "1"
object(WP_User)#4952 (8) {
  ["data"]=>
  object(stdClass)#4909 (12) {
    ["ID"]=>
    string(6) "176749"
    ["user_login"]=>
    string(10) "mozeeatupu"
    ["user_pass"]=>
    string(34) "$P$BHO3bQekVGtCrXmPMzpkzkalt5eAQl/"
    ["user_nicename"]=>
    string(10) "mozeeatupu"
    ["user_email"]=>
    string(17) "grandzu@yahoo.com"
    ["user_url"]=>
    string(25) "/forums/users/mozeeatupu/"
    ["user_registered"]=>
    string(19) "2017-08-10 14:25:47"
    ["user_activation_key"]=>
    string(0) ""
    ["user_status"]=>
    string(1) "0"
    ["display_name"]=>
    string(10) "mozeeatupu"
    ["spam"]=>
    string(1) "0"
    ["deleted"]=>
    string(1) "0"
  }
  ["ID"]=>
  int(176749)
  ["caps"]=>
  array(2) {
    ["subscriber"]=>
    bool(true)
    ["bbp_participant"]=>
    bool(true)
  }
  ["cap_key"]=>
  string(15) "wp_capabilities"
  ["roles"]=>
  array(2) {
    [0]=>
    string(10) "subscriber"
    [1]=>
    string(15) "bbp_participant"
  }
  ["allcaps"]=>
  array(4) {
    ["read"]=>
    bool(true)
    ["level_0"]=>
    bool(true)
    ["subscriber"]=>
    bool(true)
    ["bbp_participant"]=>
    bool(true)
  }
  ["filter"]=>
  NULL
  ["site_id":"WP_User":private]=>
  int(1)
}

Lawyer will get a chunk of any payment by the landlord, plus taxes.

yudashasom | 6 years and 4 months ago

string(1) "1"
object(WP_User)#4951 (8) {
  ["data"]=>
  object(stdClass)#4950 (12) {
    ["ID"]=>
    string(6) "194528"
    ["user_login"]=>
    string(10) "yudashasom"
    ["user_pass"]=>
    string(34) "$P$BKrcOOJj2qysH3kdOE3mMqxeyqPZ1m0"
    ["user_nicename"]=>
    string(10) "yudashasom"
    ["user_email"]=>
    string(20) "yudashasom@gmail.com"
    ["user_url"]=>
    string(0) ""
    ["user_registered"]=>
    string(19) "2017-08-10 14:07:32"
    ["user_activation_key"]=>
    string(0) ""
    ["user_status"]=>
    string(1) "0"
    ["display_name"]=>
    string(29) "Dasha Sominski Dasha Sominski"
    ["spam"]=>
    string(1) "0"
    ["deleted"]=>
    string(1) "0"
  }
  ["ID"]=>
  int(194528)
  ["caps"]=>
  array(1) {
    ["subscriber"]=>
    bool(true)
  }
  ["cap_key"]=>
  string(15) "wp_capabilities"
  ["roles"]=>
  array(1) {
    [0]=>
    string(10) "subscriber"
  }
  ["allcaps"]=>
  array(3) {
    ["read"]=>
    bool(true)
    ["level_0"]=>
    bool(true)
    ["subscriber"]=>
    bool(true)
  }
  ["filter"]=>
  NULL
  ["site_id":"WP_User":private]=>
  int(1)
}

I’d say lawyering up is the worst thing you can do for yourself in this situation. But the rest of the advice is sound. Take money and leave.

helen40

in General Discussion 6 years and 4 months ago

string(1) "2"
object(WP_User)#4931 (8) {
  ["data"]=>
  object(stdClass)#4962 (12) {
    ["ID"]=>
    string(6) "189636"
    ["user_login"]=>
    string(7) "helen40"
    ["user_pass"]=>
    string(34) "$P$BscAZlkg.rDAk6C2vnxsFIoOYBW.fJ."
    ["user_nicename"]=>
    string(7) "helen40"
    ["user_email"]=>
    string(13) "hkcln@aol.com"
    ["user_url"]=>
    string(0) ""
    ["user_registered"]=>
    string(19) "2024-02-22 16:46:32"
    ["user_activation_key"]=>
    string(0) ""
    ["user_status"]=>
    string(1) "0"
    ["display_name"]=>
    string(27) "Helen Brennan Helen Brennan"
    ["spam"]=>
    string(1) "0"
    ["deleted"]=>
    string(1) "0"
  }
  ["ID"]=>
  int(189636)
  ["caps"]=>
  array(1) {
    ["subscriber"]=>
    bool(true)
  }
  ["cap_key"]=>
  string(15) "wp_capabilities"
  ["roles"]=>
  array(1) {
    [0]=>
    string(10) "subscriber"
  }
  ["allcaps"]=>
  array(3) {
    ["read"]=>
    bool(true)
    ["level_0"]=>
    bool(true)
    ["subscriber"]=>
    bool(true)
  }
  ["filter"]=>
  NULL
  ["site_id":"WP_User":private]=>
  int(1)
}

I suggest you consult a lawyer who specializes in these kind of transactions. The NY Times did a long article on this some time ago.

You have some leverage as your lease is valid for a year and the owner has claimed that construction will not start with tenants in place. He may be able to amend the permits, but he is required to maintain the “warranty of habitability” during construction. For any owner time is money, and it is worth something to him to get you out. Certainly moving expenses and broker’s fees and a reasonable amount for you to leave before your lease expires. The first two are known; you need a lawyer or a very experienced RE professional for the third.

Good luck.

SoSlope | 6 years and 4 months ago

string(1) "1"
object(WP_User)#4930 (8) {
  ["data"]=>
  object(stdClass)#4929 (12) {
    ["ID"]=>
    string(5) "16781"
    ["user_login"]=>
    string(7) "SoSlope"
    ["user_pass"]=>
    string(34) "$P$BpNWkcfKZsrSiAOYnmRvIA8.yhAXCk1"
    ["user_nicename"]=>
    string(7) "SoSlope"
    ["user_email"]=>
    string(24) "danielcprice@hotmail.com"
    ["user_url"]=>
    string(0) ""
    ["user_registered"]=>
    string(19) "2008-09-10 19:27:46"
    ["user_activation_key"]=>
    string(0) ""
    ["user_status"]=>
    string(1) "0"
    ["display_name"]=>
    string(7) "SoSlope"
    ["spam"]=>
    string(1) "0"
    ["deleted"]=>
    string(1) "0"
  }
  ["ID"]=>
  int(16781)
  ["caps"]=>
  array(1) {
    ["bbp_participant"]=>
    bool(true)
  }
  ["cap_key"]=>
  string(15) "wp_capabilities"
  ["roles"]=>
  array(1) {
    [0]=>
    string(15) "bbp_participant"
  }
  ["allcaps"]=>
  array(1) {
    ["bbp_participant"]=>
    bool(true)
  }
  ["filter"]=>
  NULL
  ["site_id":"WP_User":private]=>
  int(1)
}

Just be reasonable with the landlord. From what you wrote, it doesn’t sound like he is a jerk. Either way, you are going to be looking for a new apartment in a year and that year is going to be pretty unpleasant no matter how hard the landlord tries in good faith to keep the noise, dust and disruption down. Better to just negotiate some reasonable settlement (e.g., moving and brokers expense). If your rent is significantly below the neighborhood rent propose some reasonable amount that would cover the difference with examples of comparable apartments.