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NYC > Q&A > land-lease

land-lease

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What does it mean when it says a building has a “land-lease”?

http://www.brickunderground.com/buy/what-is-a-leasehold-condo

I’ve heard that purchasing an apartment in a “land-lease” building is not a good idea. Is that true?

During my online search, I’ve seen some under-market value co-op apartment listings for sale with high monthly maintenance fees. What is the deal with these and should I consider them?

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