Advertisement
Baked In BushwickBaked In Bushwick

COPA would give nonprofits first shot at 32 ‘distressed’ Bushwick buildings, but owners don’t have to tell tenants

The Council passed Council Member Sandy Nurse's bill 38-9 on Oct. 22, and Mayor Zohran Mamdani says he'll sign it. Tenants in 237 Bushwick apartments could see nonprofits buy first.

COPA would give nonprofits first shot at 32 ‘distressed’ Bushwick buildings, but owners don’t have to tell tenants
COPA supporters at City Hall, Council Member Sandy Nurse, and an apartment building in Bushwick.
Advertisement
Baked In BushwickBaked In Bushwick

Tenants in 237 apartments across 32 Bushwick buildings that the city has placed in its program for “severely distressed” housing could see a nonprofit get the first chance to buy their building when the owner sells, under a bill the City Council passed 38 to 9 on Oct. 22.

The bill would require the owner of a New York City apartment building with four or more units that is distressed, or bound by an affordability agreement with the city’s Department of Housing Preservation and Development, or HPD, to notify the city and every city-certified nonprofit before selling it. The owner could not sell to anyone else while the nonprofits have 20 days to say they want to buy and, if any do, 70 more days to make an offer, and an owner who sells without giving that notice would face a civil penalty of up to 15 percent of the sale price.

This story continues: 1,730 more words

Read this story free with your email.

Your first story each month is free with a Bushwick Daily account. We’ll email you a code to sign in.

Featured image: Photos: Will Alatriste/NYC Council Media Unit (left); Emil Cohen/New York City Council (top right); Kidfly182 via Wikimedia Commons, CC BY-SA 4.0 (bottom right). Composite by Bushwick Daily

Advertisement
The Cloud Law Firm, strategic legal counsel for consumer brands
Advertisement
Bushwick Yacht Club
Advertisement
Baked In Bushwick
Produced by Bushwick Daily News Desk

Neighborhood news, politics, real estate, and business coverage produced by the Bushwick Daily newsroom.

View all posts
Advertise with Bushwick Daily

Reach all of New York.

Written in Bushwick, read across all five boroughs since 2009.

100,000+ readers a month 500,000+ on Instagram All five boroughs
Advertise with us →
Subscribe to Bushwick Daily