New NYC Law Gives Nonprofits a Leg up on Certain Property Purchases

planetcitizen.com ^ | 12/28/25 | Diana Ionescu

[AbolishCSEU]

Mission-driven groups will get an early chance to make offers on properties that can be rehabilitated and preserved as affordable.

he New York City Council passed a revised version of the Community Opportunity to Purchase Act (COPA), a law that gives certain nonprofits an early right to bid on available properties that could be rehabilitated and preserved as affordable housing.

As Jeanmarie Evelly explains in City Limits, the law “specifically targets buildings with poor conditions or where an affordability provision is expiring.” The law allows “qualified entities” to purchase properties, make repairs, and maintain affordable rents.

First introduced in 2020, the new version of the bill narrows the types of buildings that qualify under the law, exempts small properties with fewer than four apartments, and creates more specific criteria for the organizations that are eligible to make bids. When an eligible property is put up for sale, owners are required to notify a list of nonprofits, who have 25 days to notify the owner of an intent to purchase and 80 further days to make an offer.

While supporters say the law can work in conjunction with other city programs to improve living conditions, critics call it government overreach that can delay sales and say it won’t necessarily lead to improvements for tenants.

---

TOPICS:
KEYWORDS: eviction; housing; investors; newyork; ngos; nyc; realty; rent

[AbolishCSEU]

Ask how wonderful the NYCHA is doing! This will spread away from coasts into upstate and from California inward.

[Blurb2350]

Watch for a sudden, steep increase in the number of “mission-driven groups” registered in New York.

[Gene Eric]

should help to create more the Somali learing centers

[mikey_hates_everything]

Mobsters’ descendents must be kicking themselves now on what they could have gotten into instead of alcohol, drugs, extortion, stealing union dues and stealing from businesses. Government is unlimited $$$.

[UnwashedPeasant]

“qualified entities”

Jews and whites need not apply.

[Wuli]

The effort will produce some combination of - (1) more buildings needing taxpayer subsidies to fix and renovate as the non-profit buyers prove incapable of funding the renovations themselves, (2) more buildings abandoned by their owners (the new non-profit buyers) (3) reverting to direct city ownership. And item 3 is the real intent behind the law - more rental units directly owned by the city and subsidized by the taxpayers.

[Revel]

The corrupt democrat NGO’s will eat it up.