Co-ops that rent the land underneath their buildings now have a chance to renew their leases early, under legislation signed by Governor Kathy Hochul at the end of September. The new law allows land-lease co-ops to renew their ground leases at any time, rather than right before the end of the term, which typically runs for 99 years. The legislation should give these co-ops a shot at securing a new mortgage, as banks have been unwilling to lend to co-ops with a ground lease that would expire before the debt was paid off, said Laura Sugarman, a partner and real estate lawyer at Benesch.