December 19, 2025
The New York City Council just passed a new law. You may have heard some noise about about this and wondered, "Is this a big deal or just another headline?" Let’s talk about what NYC’s new COPA law actually does and who it affects.
COPA stands for Community Opportunity to Purchase Act. It gives qualified nonprofit organizations and community land trusts (CLTs) the first opportunity to buy certain residential buildings before they're offered to the open market.
The goal is to help preserve affordable housing and reduce displacement by giving mission-driven organizations a real chance to step in. That's it. It does not force a sale. It does not cap prices. And it does not apply to every property in NYC.
1. Before listing an apartment building, the owner must first notify the NYC Department of Housing Preservation and Development (HPD) that they intend to sell and provide basic information about the property, including rent and financial details.
2. Once notified, qualified nonprofit organizations have up to 180 days to review the property, secure financing, and submit a competitive offer if they choose to move forward.
3. If no nonprofit expresses interest, or if the owner chooses not to accept a nonprofit’s offer, the property can then be sold on the open market as usual.
No forced outcomes. Just an added step before a listing goes public.
COPA does not apply to every property in New York City. It’s mainly focused on larger residential buildings, where tenant displacement is more likely. Specifically, it applies to:
• Properties with five or more residential units
• Certain owner-occupied buildings with six or more residential units
That means if you’re a buyer shopping for a condo, small multi-family, or any typical residential property, COPA likely won’t affect you at all.
Disclaimer: This content is meant for informational purposes only and is not intended to be construed as financial, tax, legal, or insurance advice.
