Relates to ground lease contracts

This bill amends New York's real property law to allow ground lease residential cooperatives to renew or extend their leases at any time before the contract expires, provided the original agreement grants them that sole option. It directly affects housing cooperatives that lease land from private owners, clarifying their ability to secure long-term occupancy without waiting for a specific expiration date. The legislation defines specific terms related to these cooperative buildings and owners while excluding government entities, certain charities, and Native American tribes from its scope. By removing potential barriers to renewal, the bill aims to provide greater stability for residents in ground lease cooperative apartment buildings.