New York City Mayor Zohran Mamdani signed the Community Opportunity to Purchase Act (COPA) on Nov. 10. When a multifamily building with four or more units that has been left in disrepair, or an affordable building under a city regulatory agreement, is put up for sale, a nonprofit recognized by the city will have 145 days to negotiate a purchase first. The Department of Housing Preservation and Development (HPD) is beginning preparations to implement the law, including compiling a list of qualified organizations.
New York City Mayor Zohran Mamdani signed the Community Opportunity to Purchase Act (COPA) on Tuesday, Nov. 10. Under the law, when a multifamily building in disrepair or an affordable building is put up for sale, organizations such as nonprofits, tenant groups and community land trusts (CLTs) get the chance to buy it before it goes on the open market. The city said the goal is to break a cycle in which buildings pass from one negligent landlord to another and steadily deteriorate.
145-day exclusive negotiation, one-year right to buy on "the same terms"
When a covered building is put up for sale, a qualified organization has 145 days of exclusive time to pursue a purchase. If another buyer makes an offer within one year after the organization's proposal is rejected, the qualified organization can exercise a right of first refusal to buy the building on the same terms as that offer.
The law covers multifamily buildings with four or more units that are in serious disrepair, as well as buildings that have signed regulatory agreements with HPD that impose affordability conditions such as rent limits. HPD plans to compile a list of "qualified organizations" whose experience in acquiring and managing affordable housing, as well as their financial and organizational capacity, has been vetted, and to set up a process for notifying them when a covered building is listed for sale. A detailed implementation schedule has not yet been announced.
The bill was introduced by Council Member Sandy Nurse (Brooklyn). Former Mayor Eric Adams vetoed an earlier version in December 2025. The Mamdani administration then included the measure in its housing plan, "Block by Block," announced in May this year, and the City Council passed it in October. The city has set a goal of building 200,000 new affordable homes and preserving 200,000 more over the next 10 years.