Yes - in New York, existing leases survive property transfers. The buyer steps into the landlord's shoes and must honor all lease terms through expiration. This directly affects pricing, especially for owner-occupant buyers who want immediate possession. If you want to maximize price for owner-occupants, consider timing the sale to coincide with lease expiration.
From the seller playbook: Tenant-Occupied Property Sales - Showing Constraints, Lease Survival, and Buyer Adjustments
This is general information, not legal, tax or accounting advice. Every situation is different. Talk to a licensed attorney, accountant or tax professional before you act.
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