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break a lease signed 3 days ago, did not move in yet

Posted by maya on August 17, 1999 at 10:10:17:

I signed a one year lease on August 14, 1999, (3 days ago) for an
appartment in Manhattan. I am supposed to move in on september 1, 1999
(in fifteen days). I did not give any deposit yet but paid 100 dollars
application fee. I changed my mind and I don't want to lease it anymore,
because I realise I will not be able to afford it.
Can I back out legally ? Can I break the lease ? Will I be sued for that ?
What is the grace period to change your mind in these cases ?
Do I have to tell them in writing that I want to break my lease ?
Will I have to pay penalties ?
The management office kept the 2 copies of the contract.
Thanks for your help

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