What happens to a New York tenant when the landlord sells the property?
In New York, the lease typically transfers to the new owner with all original terms intact. The tenant is not displaced by the sale. The new owner becomes the new landlord and inherits all rights and obligations under the existing lease. The new landlord may not raise rent mid-term or terminate the lease except as the original lease and New York law allow. The security deposit must be transferred to the new owner. Tenants should receive written notice of the new owner's name and address per New York disclosure rules.
Source: New York lease assignment
This is an informational answer based on New York lease assignment as of early 2026. It is not legal advice. Housing law changes year to year and local ordinances (especially in rent-controlled or rent-stabilized cities) can override or add to state law. For contested cases, consult a New York-licensed attorney.