Can a landlord buyout a lease in New York City if the property is protected under rent stabilization?

Answer by  worker2746 (2434)

I am not sure if a landlord can buy out this lease in NYC if there is rent stabilization for someone. However, if both parties agree to this there is conditions that should allow for this to happen. You should contact a real estate attorney to find out the answer to this.

Answer by  mammakat (11147)

This is an intricate question which is fortunately covered on the housing website for the City of NY, however, that is so crammed with minutiae, you may want to call the city and inquire. Short answer, Yes, this can be done in a mutually agreed situation, but you would want a lawyer- this issue is a morass of legalities.