Ground lease will be renewed at the end of the lease. Obviously it will not be renewed at the same price, but the price can’t be higher than the market rate.
So your levy will go up, but so will all living expenses as well anyway.
It is rare for a coop to dissolve itself and become a tear down. The people living in it have a legal right to live there

It makes no mention of a ground lease in the listing.

Also condos can also have ground leases. Less condos than coops have ground leases but it does happen. I recall my brother and I viewed a brand new condo building high rise in Manhattan in 1992 with a 100 year ground lease with a locked in rent for 100 years. The realtor said you will be long dead before that 100 years is up in 2092 so dont worry. Guess what in 2026 I bet people buying are now worried.

For example, there are condo buildings on Roosevelt Island and in Battery Park that lease their sites from NYC, and buildings such as Quay Tower in Brooklyn Heights.

Anonymous wrote:What is a ground lease?

Someone else owns the land under the building. It's more common in NYC.

The original owner leased the land for say $50K per year for 50 years to the HOA. Someone else built home/apartments and then sold those with the disclosure that the ground lease is either renegotiated with the current unit owners (huge jump in price for annual lease) or landowner takes possession of existing structure and redevelops.

It's not a bad deal if you're low income, can't afford the area, and own the unit in the early years post-construction.

It's a death spiral in the last decade before ground lease ends because no one wants to invest in maintenance or improvements.