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Jewish News 24 · Nov 10, 2026

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NYC MAYOR MAMDANI SIGNS LAW GIVING NONPROFITS FIRST CHANCE TO BUY DISTRESSED BUILDINGS: New York City Mayor Zohran Mamdani signed the Community Opportunity to Purchase Act (COPA) on Tuesday, giving qualified nonprofit organizations and community groups priority to purchase certain distressed or affordable apartment buildings before private investors. Under the law, eligible groups will have up to 145 days for the purchase process and an additional year to match competing offers. The measure applies to certain multifamily buildings with four or more units and is intended to preserve affordable housing and protect tenants from displacement. The legislation takes effect in November 2027, following a previous version vetoed by former Mayor Eric Adams.

NYC MAYOR MAMDANI SIGNS LAW GIVING NONPROFITS FIRST CHANCE TO BUY DISTRESSED BUILDINGS: New York City Mayor Zohran Mamdani signed the Community Opportunity to Purchase Act (COPA) on Tuesday, giving qualified nonprofit organizations and community groups priority to purchase certain distressed or affordable apartment buildings before private investors. Under the law, eligible groups will have up to 145 days for the purchase process and an additional year to match competing offers. The measure applies to certain multifamily buildings with four or more units and is intended to preserve affordable housing and protect tenants from displacement. The legislation takes effect in November 2027, following a previous version vetoed by former Mayor Eric Adams.

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