163 NYC just passed the COPA law, and it’s chilling. The city now gives government approved nonprofits first dibs when property owners try to sell, kneecapping private buyers and stripping owners of real control over their own property. (citylimits.org) 🧠 These people are STUPID! posted 165 days ago by brain_dead 165 days ago by brain_dead +163 / -0 Legislation Will Give NYC Nonprofits First Chance to Buy Certain Buildings Five years after it was introduced, the City Council passed a revised version of the Community Opportunity to Purchase Act, or COPA, which supporters say will give mission-driven groups a leg up when affordable and distressed buildings come up for sale. Cr... 70 comments share 70 comments share save hide report block hide replies
Well, they're not a non-profit. So this is giving locals and people who want to help a leg up or at least a chance to buy things first before blackrock buys it all.
That's true. If it works out well, good for them.
In most cities blackrock has a deal with the city leaders to buy up property before it hits the market.