Housing & Real Estate Active Updated Sep 14, 2026
The tenant purchase bill
The City Council is reviving the Community Opportunity to Purchase Act, which would give vetted nonprofits and community land trusts a window to claim and bid on eligible rental buildings before they hit the open market. Eric Adams vetoed the bill on his last day in office and an override fell one vote short earlier this year; Mayor Mamdani now backs a revised version and Speaker Julie Menin has promised a vote, while landlord groups warn it will backfire on small owners.
The story so far
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Sep 14, 2026 Latest
City Limits reported the revised Community Opportunity to Purchase Act would give qualified nonprofit buyers 20 days to claim interest and 70 more days to make an offer, plus a chance to match private bids, when an eligible building goes up for sale, exempting some smaller properties and targeting buildings near the end of affordability protections or carrying significant code violations. Sponsor Sandy Nurse said an override of Eric Adams' veto fell one vote short earlier this year, and HPD Commissioner Dina Levy estimated about 2,100 buildings would be eligible today.
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