Ususally if a tenant has a lease then the lease should survive the current owner and be transferred to the new owner. If the new owner is taking posession with the intention of residing in the premesis then the tenant(s) must be served notice, and could result in court action. I strongly suggest speaking with an attorney in these situations
In New York State at least, real property is sold subject to any current leases unless other arrangements have been made as part of the transaction. Therefore, tenants remain in place until the end of their lease term.
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The new owner is obligated to all existing leases. If the apartment is not rent stabilized than he is not obligated to renew the lease but as long as the lease has not expired you may stay in the apartment.