Establishes the "tenant opportunity to purchase act"

Latest action May 4, 2026

Establishes the "tenant opportunity to purchase act"; prevents the displacement of middle and lower-income tenants in New York and preserves affordable housing by providing an opportunity for tenants to own or remain renters in the properties in which they reside.

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Where it stands

Out of committee and scheduled for a vote by the full chamber.

Introduced
In committee
Up for a vote
Passed one chamber
Passed
Enacted

New York State Senate

Amends the Real Property Actions and Proceedings Law.

Committee

Housing, Construction And Community Development · New York State Senate

Purpose, from the sponsor's memo

Section 1 provides the title of the bill. Section 2 amends the Real Property Actions and Proceedings Law by adding article 7-E: Tenant Opportunity to Purchase Act. The contents of this Act include: Section 799. defines the following terms: "AMI", "Appraised value", "Bona fide offer of sale", "CPI", "Community land trust", "Governing document", "DHCR", "Highest and best use", "Matter of right", "Owner", "Permanent affordability", "Purchase contract", "Qualified purchaser", "Rent", "Rental agreement", "Rental housing accommodation", "rental unit", "Sale", "Supportive partner", "Tenant", "Tenant Organization", "Third-party purchaser", "TOPA buyer", and "Under threat of eminent domain". 799-a. authorizes the Division of Housing and Community Renewal (DHCR) and their designees to implement the powers listed in this article. 799-b. states that the TOPA shall apply to all rental housing accommo- dations with three or more rental units. 799-c. provides an outline for exemptions to residential properties 799-d. outlines the right of first refusal for a tenant. 799-e. outlines what actions by tenants and tenant organizations need to be approved in terms of decision-making. 799-f. outlines the criteria to be considered a qualified purchaser. 799-g. outlines the criteria of a supportive partner. 799-h. allows tenants and tenant organizations to assign rights to a qualified purchaser of their choice 799-i. allows tenants to waive their rights before certain periods. 799-j. states that owners must comply with regulations under the DHCR, regarding notices. 799-k. outlines that the right of a third-party purchaser to buy a rental housing accommodation shall be conditional upon the exercise of the tenant, tenant organization, and qualified purchaser rights under this article. 799-I. outlines the rights, timeline, selection, cost, validity, and appraisal procedure. 799-m. states that the owner and any tenant, tenant organization, or qualified purchaser shall bargain in good faith regarding any sale. 799-n. prohibits a tenant, tenant organization, or qualified purchaser from selling their rights. 799-o. prohibits eviction by the TOPA buyer in the rental housing accommodation 799-p. states that a rental housing accommodation purchased by a TOPA buyer is subject to permanent affordability restrictions. Outlines the terms, affordability, standards, restrictions, requirements, and priori- ties. 799-q. establishes and publishes a list of qualified purchasers under the DHCR. Granting tax exemption, and benefits to certain purchasers. 799-r. grants the DHCR the ability to take all appropriate action to enforce rules and regulations. DHCR must also establish and make avail- able standard documents to assist those in complying with requirements. Owners must submit a signed declaration within 15 days of sale to DHCR, any owner who willingly violates regulations is subject to civil penal- ty. 799-s. prevents displacement of lower-income tenants and preserves affordability by providing tenants the opportunity to own or remain renters in the properties in which tenants reside as provided in this article. 799-t. states that the DHCR must create reports annually on the status of TOPA to the legislature. Reports will include but are not limited to statistics on the number and types of sales, number of tenants and qual- ified purchasers, types of units, and any other information the legisla- ture requests. Section 3 provides the severability clause. Section 4 provides the effective date.

Filed with the bill. Read it on nysenate.gov (opens in a new tab)

Recorded votes

Vote: Committee vote · Housing, Construction And Community Development
Senate Housing, Construction And Community DevelopmentMay 28, 2025Result: passed
(8) (2) (0) (1)

Cosponsors

Cordell Cleare, Gustavo Rivera and 18 more on Agora

Democratic20

See the full list on nysenate.gov

The sponsor's argument

Why Zellnor Myrie says this is needed

Providing tenants an opportunity to purchase the buildings in which they reside will stabilize New York's inflated housing market at feasible prices. More affordable housing is needed to offset the negative effects of gentrification, such as rampant homelessness. This bill does not only benefit purchasers but also ensures sellers are adequately compen- sated for their investments.

This is the sponsor's own case for the bill, quoted from their memorandum. It is not Agora's description of what the bill does.

Full history

May 4, 2026
Recommit, Enacting Clause Stricken
RECOMMIT, ENACTING CLAUSE STRICKEN
NY Senate
Jan 7, 2026
Referred to committee
REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
NY Senate
May 28, 2025
Reported out of committee
REPORTED AND COMMITTED TO JUDICIARY
NY Senate
Jan 8, 2025
Referred to committee
REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
NY Senate

About this record

Summary: The summary comes from NY Open Legislation, the New York State Senate's public record. For more, see How we handle summaries.
Cosponsors: The list shows the cosponsors who are on Agora, A to Z. The official record may list more.
Party colors: Parties are shown in the same neutral colors.
Source: From NY Open Legislation, the NY Senate and Assembly, and official rosters. This record was last updated Oct 29, 2026. About our data

Read the record

Read on NY Senate (opens in a new tab) The official record on nysenate.gov.

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