New York City (NYC) Mayor Zohran Mamdani (D) signed a bill into law Tuesday that allows qualified nonprofits and other community organizations the first chance to buy certain types of apartment buildings for sale.
\n\nThe Community Opportunity to Purchase Act (COPA) gives “qualified nonprofits and community groups the first opportunity to purchase certain multifamily buildings before they hit the private market,” according to a press release from the mayor’s office.
\n\nAccording to the press release, under the legislation, “the Department of Housing Preservation and Development (HPD) will maintain a list of ‘qualified entities,’ vetted nonprofits, tenant groups, community land trusts and other mission-driven organizations.”
\n\nMayor Zohran Mamdani Signs Landmark COPA Legislation on Tuesday, November 10, 2026, in New York City. (Mayor’s Office)
\n\nThese qualified entities “will receive an exclusive 145-day window to complete the purchase” after a building “is put up for sale”:
\n\nUnder COPA, the Department of Housing Preservation and Development (HPD) will maintain a list of “qualified entities,” vetted nonprofits, tenant groups, community lands trusts and other mission-driven organizations with demonstrated experience acquiring, preserving and managing affordable housing. These organizations must also demonstrate the financial and organizational capacity to purchase and operate eligible properties.
\n\nWhen a covered building…
Original source: https://www.breitbart.com/economy/
