City Council Passes COPA, Giving Nonprofits First Shot at Some Buildings

What happened

The New York City Council on Thursday approved the Community Opportunity to Purchase Act, known as COPA, Patch reported on Oct. 23, 2026. The bill, sponsored by Council Member Sandy Nurse, would require owners of certain residential properties to give qualified nonprofit organizations a chance to pursue a purchase before selling to other buyers.

Under the bill, owners of covered properties must notify the city and qualified organizations when they intend to sell. Eligible nonprofits and qualifying partnerships would have 20 days to submit a statement of interest and 70 days to make an initial offer. If the owner receives an offer from another buyer, a qualified nonprofit could match that offer and buy the property on the same terms. Owners could seek an exemption by showing undue financial hardship. The Department of Housing Preservation and Development (HPD) would oversee the program and issue periodic reports.

Mayor Eric Adams vetoed an earlier version of the legislation, citing concerns about its potential impact on property owners and the housing market. "After six years, multiple Mayors, and a veto, we finally passed COPA," Nurse said.

Supporters say the measure could protect affordable housing. It would not automatically create new affordable apartments or require every nonprofit-purchased building to charge below-market rents. Its effect would depend on whether nonprofits can secure financing, complete purchases and keep rents affordable over time. Small Property Owners of New York opposed the bill. Board president Ann Korchak said, "COPA, in any form, is a destructive housing policy for renters, owners, and affordable housing." She argued it could reduce property values for small landlords and give qualified nonprofits an advantage over other buyers.