(New York, New York) – Homeowners and small landlords are facing what critics are calling a direct assault on private property rights after the New York City Council approved a sweeping new housing law that hands government-favored nonprofits unprecedented power over real estate sales.
The measure establishes the so-called Community Opportunity to Purchase Act (COPA), a policy that forces certain property owners to give politically connected nonprofit groups the first right of refusal when selling multifamily buildings – even allowing them to match or override private offers. Continue reading…
