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Community Opportunity to Purchase Act

Sector: Residential • Location: New York City, New York, United States

Source: New York Post

Project
Planned

A legislative scheme proposed by the New York City Council to impose a six-month right of first refusal period on the sale of distressed residential buildings, allowing city-approved nonprofit organizations to match the sale price before the property is available on the public market. The goal is to 'decommodify' residential real estate by turning it into social housing run by politically connecte

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Project Information

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The project “Community Opportunity to Purchase Act” is an infrastructure initiative in the Residential sector, located in New York City, New York, United States. Taiyo aggregates data on it from New York Post.

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Participants

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Status

Original status

planned

Taiyo status

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Contact

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Email

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Description

Description

A legislative scheme proposed by the New York City Council to impose a six-month right of first refusal period on the sale of distressed residential buildings, allowing city-approved nonprofit organizations to match the sale price before the property is available on the public market. The goal is to 'decommodify' residential real estate by turning it into social housing run by politically connected nonprofits.

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Original Currency

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Original budget

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Source

Source reliability

High

Data quality score

100%

Source

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URL

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More Details

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Article Published Date

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