ASK AN EXPERT: HOW MUCH CHEAPER IS AN APARTMENT IN A LANDLEASE BUILDING?

by Teri Karush Rogers

Q.  If you have two identical apartments–one in a building that has a landlease, and one in a building that owns the land it sits on–how much less is the landlease apartment worth?

A.  Expect to pay a little to a whole lot less, but be prepared for higher monthly costs, say our experts.

First, quick definition of a landlease, also known as a ground lease…

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