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NYC: Non-regulated lease end options

Posted by East side guy on April 02, 2000 at 18:00:38:

We all know that NYC rents continue to spiral out of control, but can anyone offer some advice on our options given these facts:

- large multi-unit rental building on upper east side

- current rent = $4500/mo., so probably went through luxury decontrol some time ago (--> therefore, almost surely not rent stabilized now)

- current lease ends 4/30/00

- management company just came through with renewal offer at new rent of more than $6000/mo. (!)

- My roomates and I can't find a new apartment that fast -- what should we do?

- Can we just overstay the lease end date? Should we pay the old rent "month-to-month"? Pay the new rent? Get a lawyer?

Thanks in advance for your help....

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