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NYC Housing Policy Shifts Ahead | Real Estate News
New York City is poised for major housing policy changes as the Council revives the J-51 tax abatement program to incentivize building upgrades and pushes forward with a revamped COPA, giving nonprofits and tenant groups faster access to buy buildings — this time with stricter eligibility and mission-driven buyer requirements. While J-51 faces hurdles with co-ops and condos still excluded, officials aim to extend it for ten years and boost its benefit cap to tackle deferred maintenance and energy compliance under Local Law 97. Meanwhile, tensions may rise over proposed limits on renewable…
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