The City Council’s far-left majority is pushing the Big Apple into a “communist dystopia” with Stalinesque legislation designed to control how private property is sold — and penalizing owners $30,000 if they resist.
The “Community Opportunity for Purchase Act,” or COPA, forces sellers to let “community land trusts” and other nonprofits providing affordable housing make first offers to buy residential buildings with at least three units once they’re on the market – and then match competing private-sector offers.
The bill, sponsored by Brooklyn Councilwoman Sandy Nurse, was introduced in May 2024 and has gained steam in recent months after Democratic Socialist Zohran Mamdani won the June Democratic primary before cruising to victory on Nov. 4.
As of Friday, 32 of the 51 Council members had signed on as sponsors, more than the 26 votes needed to pass, and just shy of the 34 needed to override a mayoral veto.
“COPA is yet another attack on private real-estate ownership in this city,” said Council Minority Leader Joann Ariola (R-Queens).
“We’re sliding headfirst into a communist dystopia where the government and their apparatchik developers own all the property, and the rest of us get forced into perpetual rentorship, and this legislation is helping to get us there even quicker.”
Nurse told The Post she has “high hopes” the bill will get to the floor for a vote before the legislative session expires at year’s end “given the growing support” for it “with the rising cost of rent and the dream of homeownership further out of reach.”
“COPA is another tool to grow affordable housing and keep families here,” she said.
The bill would install new bureaucratic hurdles for already beseiged property owners. It is modeled after similar programs already in place in other left-wing cities like Washington, D.C., and San Francisco.
Residential building owners would be required to notify the NYC Department of Housing Preservation and Development and a yet-to-be-determined list of “qualified” nonprofits before offering the properties up for sale on the open market.
Nonprofits interested would have 60 days to notify the owner and HPD of their intent to purchase and another120 days to make a “competitive” offer.
If a nonprofit doesn’t show interest, or the offer is rejected, the owner can sell the building on the open market.
Building owners violating the law would face civil fines of up to $30,000.
Nurse’s staff sent out an email this week to other City Council staff saying an “amended version” of the bill would soon be released and then discussed during a web briefing on Wednesday. A Nurse spokesperson declined to discuss the planned changes with The Post.
Ann Korchak, board president of the Small Property Owners of New York, said the bill, as is, would cause a “slow and painful demise” for small building owners, while boosting politically connected non-profits who’d benefit from chaos and property devaluation the legislation would create.
“It is government-engineered interference in free-market transactions that eliminates negotiations, private sales, and potential buyers in favor of approved non-profits,” said Korchak, whose group represents more than 5,700 landlords.
The New York State Association of Realtors, which represents more than 61,000 real estate agent, ripped the bill as “an unwarranted government intrusion into private real estate transactions that would likely establish unreasonable delays in the sale residential buildings, negatively impacting buyers, sellers, real estate professionals, and state and city coffers.”
“The opportunity to purchase a building at list price would lead property owners to lose income when multiple offers are likely to be placed on a building,” it added.
“This lost income would cost city government tax revenues, as New York City currently receives more than $1 billion in revenue from real property transfer taxes.
“Many building owners are not wealthy, corporate entities. Small landlords would be hurt by the delay in the transaction process, which would cost them income in the form of reduced sales prices.”
A City Council spokesperson said the bill is “going through the legislative process” and declined to elaborate on whether Speaker Adrienne Adams will call for a vote on it.
The Mayor’s Office said it is reviewing the legislation.
