N
ew York City’s Council, now led by a far‑left majority, is pushing a bill that could dramatically alter the city’s housing landscape. The Community Opportunity for Purchase Act (COPA) would compel any owner of a residential building with three or more units that is listed for sale to first offer the property to community land trusts and other nonprofits that develop affordable housing. If a nonprofit declines or no offer is made within the allotted time, the owner may then sell the building on the open market. Owners who refuse to comply could face civil fines of up to $30,000.
The legislation, introduced in May 2024 by Brooklyn Councilwoman Sandy Nurse, has gained momentum after Democratic Socialist Zohran Mamdani won the June primary and the November general election. As of Friday, 32 of the 51 council members had signed on as sponsors—more than the 26 votes required for passage and just shy of the 34 needed to override a mayoral veto.
Council Minority Leader Joann Ariola (R‑Queens) has blasted COPA as another attack on private real‑estate ownership, warning that the city is sliding toward a “communist dystopia” where government and its allied developers control all property, forcing residents into perpetual rentership. “This legislation is helping us get there faster,” she said.
Nurse has expressed optimism that the bill will reach a floor vote before the legislative session ends, citing growing support amid rising rents and the increasing distance of homeownership for many New Yorkers. She frames COPA as a tool to expand affordable housing and keep families in the city.
COPA would add bureaucratic steps for already burdened property owners. It follows models already in place in Washington, D.C., and San Francisco. Owners would need to notify the NYC Department of Housing Preservation and Development (HPD) and a list of “qualified” nonprofits before listing the property. Interested nonprofits would have 60 days to notify the owner and HPD of their intent to purchase, and an additional 120 days to submit a competitive offer. If no nonprofit shows interest or the offer is rejected, the owner may sell the building on the open market.
Violations could trigger civil fines of up to $30,000. The bill’s supporters argue it will increase affordable housing stock and stabilize neighborhoods. Critics, however, warn that it will slow sales, reduce property values, and hurt small landlords.
Ann Korchak, board president of the Small Property Owners of New York, said the bill would “slow and painfully crush” small building owners while benefiting politically connected nonprofits. “It’s government‑engineered interference that eliminates negotiations, private sales, and potential buyers in favor of approved nonprofits,” she said, representing more than 5,700 landlords.
The New York State Association of Realtors, which represents over 61,000 agents, denounced COPA as an unwarranted government intrusion that would create unreasonable delays in residential building sales, harming buyers, sellers, real‑estate professionals, and the city’s tax base. The association noted that the city currently earns over $1 billion in real‑property transfer taxes and that small landlords would suffer income losses from delayed transactions.
A City Council spokesperson said the bill is “going through the legislative process” and declined to comment on whether Speaker Adrienne Adams will call for a vote. The mayor’s office has announced it is reviewing the legislation. Nurse’s staff sent an email this week to other council staff announcing that an “amended version” of the bill would soon be released and discussed during a web briefing on Wednesday. A Nurse spokesperson declined to discuss the planned changes with the press.
