The Dangerous Impact of the Ground Lease Co-Op Bill

Real Estate attorney Stuart Saft authored an article for CityBiz discussing the potential consequences of proposed legislation in New York that would impact ground leases for cooperative buildings. In the article, Mr. Saft explains that bills S7825 and A5031A would significantly alter the terms of ground leases, potentially destabilizing the real estate industry. He argues that the legislation would disproportionately benefit a small group of co-op shareholders while undermining broader property rights and economic stability. Furthermore, Mr. Saft cautions that the enactment of these bills could lead to severe repercussions for lenders and the overall housing market in New York City.

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