Preserving Affordability. The bill targets distressed buildings that would otherwise be flipped by speculators, helping keep existing affordable units from being lost to gentrification.
7D AGOLOCALNYC COUNCIL MEMBER SANDY NURSE
Councilwoman Sandy Nurse Revives COPA Nonprofit Housing Bill
What's the gist?
Council member Sandy Nurse has reintroduced a revised version of COPA, legislation giving nonprofits first chance to buy distressed apartment buildings, after the original bill was vetoed by former Mayor Adams.
Context
The Community Opportunity to Purchase Act passed the City Council last year but was vetoed by then-Mayor Eric Adams. Real estate groups opposed it, arguing it would complicate property sales and favor nonprofits unfairly.
Positive takes
Community Control. COPA empowers neighborhood organizations and nonprofits to stabilize communities by giving them a chance to acquire problem properties before private investors.
Mayoral Support. With Mayor Mamdani backing the legislation, supporters are confident this version will pass where the previous attempt failed under Adams.
Negative takes
Property Rights Concerns. Critics argue the bill amounts to a regulatory taking that prevents property owners from freely selling their buildings on the open market.
Market Interference. Real estate groups contend government intervention in property sales will slow transactions and discourage investment in aging buildings that need renovation.
Limited Impact. The revised bill would affect only about 300 building sales annually, representing just 0.6% of transactions, raising questions about its effectiveness.
— by VoiceWhat's Voice? Read this.
News sources
- 01
Kathryn Brenzel · Crain's New York Business · May 22, 2026
- 02
Dan Rivoli · NY1 · May 14, 2026
- 03
Jeanmarie Evelly · City Limits · May 15, 2026
- 04
Arun Venugopal · Gothamist · May 18, 2026
- 05
KIRO NEWSRADIO STAFF · MyNorthwest.com · May 20, 2026