New law gives qualified nonprofits a first chance to buy certain at-risk apartment buildings, with city implementation still ahead.
NEW YORK — Mayor Zohran Mamdani signed the Community Opportunity to Purchase Act on Nov. 10, 2026, giving qualified community organizations a priority chance to buy certain apartment buildings when their owners sell. The COPA housing law aims to preserve affordable homes and give tenants a stronger voice in what happens to their buildings, according to the mayor’s office.
The law targets a key moment in a building’s life: a change in ownership. Rather than relying only on new construction to ease housing costs, the city is creating a route for approved nonprofit buyers to acquire and preserve existing homes.
For tenants, the promise is greater stability. For the city, the next challenge is turning a signed law into a working purchase process, with capable buyers, clear notices and the money needed to acquire and repair buildings.
What is the COPA housing law?
COPA stands for Community Opportunity to Purchase Act. It gives approved organizations a first opportunity to buy covered residential buildings, along with a later opportunity to match another buyer’s offer under specified conditions.
According to City Hall, the law covers multifamily buildings with at least four units that are in significant disrepair. It also covers buildings subject to affordability restrictions under regulatory agreements with the city’s Department of Housing Preservation and Development, known as HPD.
That scope matters. COPA is aimed at particular properties and qualified buyers. It should not be read as a promise that every apartment building will become community-owned or that every tenant will receive an individual right to buy an apartment.
“Our homes should be places of stability, not vehicles for speculation,” Mamdani said in the announcement.
Who will be allowed to buy?
HPD will maintain a list of approved buyers, described in the announcement as qualified entities. The list can include nonprofits, tenant groups, community land trusts and other organizations focused on affordable housing.
Approval will involve more than a statement of good intentions. City Hall says organizations must show experience in acquiring, preserving and managing affordable homes. They must also demonstrate the financial and organizational ability to buy and operate eligible buildings.
Those requirements connect the law’s goal to a practical concern: ownership brings duties. Buying a building is only the first step. A successful preservation effort must also address repairs and ongoing operations.
How the purchase process is expected to work
The mayor’s announcement describes two main opportunities for approved buyers:
- An initial priority period: Qualified organizations receive a 145-day period associated with purchasing an eligible building.
- A later matching opportunity: If an organization’s offer is rejected and another buyer makes an offer within the following year, qualified organizations can exercise a right of first refusal to match it.
A right of first refusal, as described in the announcement, means an opportunity to match another buyer’s offer. It is different from an automatic transfer of ownership.
One detail needs clarification before owners or organizations rely on the announcement as a transaction guide. The release first describes 145 days to make an offer, then describes an exclusive 145-day window to complete a purchase. Those are different milestones. The announcement alone does not resolve that wording difference.
Readers considering a transaction should consult the enacted legislation and HPD’s implementation guidance for the controlling deadlines and procedures.
Years of advocacy preceded the signing
Council Member Sandy Nurse sponsored the legislation. The City Council’s own announcement confirms that members approved COPA on Oct. 22, 2026.
City Hall places the signing after six years of advocacy by tenants and community organizations. Its account says former Mayor Eric Adams vetoed an earlier version in December 2025, and that Mamdani included COPA in his Block by Block housing plan released in May 2026.
Supporters see the law as a way to interrupt repeated sales of troubled buildings without lasting improvements for residents. The signing announcement includes support from community land trusts, tenant leaders and nonprofit housing organizations.
What will determine whether it works?
The administration presents COPA as a tool to prevent displacement and improve neglected housing. Those are goals. The signing announcement does not yet establish how many buildings the new law will preserve or how many households will benefit.
A fair assessment must also consider how the rules affect owners and other buyers. A priority process changes the steps involved in a covered sale. Clear eligibility rules and reliable deadlines will therefore matter to everyone involved, including organizations trying to arrange financing.
The release says HPD will begin implementation by establishing its approved-buyer list and a notification process for covered sales. It does not provide a tenant application link or a full operating guide.
What readers should watch next
For Mohawk Valley readers, this is a New York City policy development. The announcement does not create a purchase program for apartment buildings in Utica, Rome or other communities outside the city.
The next useful measures are concrete: when HPD publishes its rules, which organizations qualify, and whether completed purchases lead to better conditions and lasting affordability. Tenants and housing organizations should follow HPD’s official updates before assuming a particular building qualifies.
Watch the official announcement
Sources: NYC Mayor’s Office, Nov. 10, 2026; New York City Council, Oct. 22, 2026. Program details reflect City Hall’s announcement; the timing discrepancy is identified above.