barbara - great answer. now that's someone you should keep in contact with Yuri...

The terms under which you would be able to buy your apartment will be in the offering plan (you should get a preliminary version, called a red herring, before its release to the general public). The owner is under no obligation to offer you any sort of incentive for this purchase, but many such conversions did offer an "insider's price" in previous years.

Please note, however, that if your apartment is rent stabilized, you may not be compelled to buy the apartment or face eviction, unless at least 85% of current rental tenants buy. If they do not, you retain all of your rights under rent stabilization as long as you are not in default of your lease and meet all rent stabilization guidelines.

If your apartment is not stabilized, then the landlord can refuse to renew your lease when it expires, meaning you must either buy or move.

Good luck!