Tenants, housing advocates and elected officials rallied outside a South Slope apartment building on April 26 to call for the passage of the Tenant Opportunity to Purchase Act, or TOPA, which would give renters the first chance to purchase their buildings when landlords put them up for sale.
Supporters gathered at 287 Prospect Ave., where tenants say the building’s landlord has repeatedly put the property on and off the market while warehousing apartments and misrepresenting the status of rent stabilization protections after a 421-a tax exemption expired, according to a press release. The tenants are among a growing movement across the city advocating for community ownership and permanent affordability.
TOPA, sponsored by state Sen. Zellnor Myrie and Assemblymember Marcela Mitaynes, would allow tenants in multifamily buildings to collectively purchase their homes before they are sold on the private market. The bill, introduced as A6100/S401, would also allow tenants to partner with nonprofit organizations and community land trusts to secure financing and convert the properties into permanently affordable rental or cooperative housing.
Advocates say the measure would help curb displacement caused by real estate speculation and give tenants the tools to take control of their housing. Similar legislation has been implemented in Washington, D.C., and San Francisco.
Organizers from Housing Justice for All and the New York City Community Land Initiative, which includes several active community land trusts, joined tenants at the rally. They pointed to successful tenant-led building purchases in other parts of the city, such as the one at 700 East 134th Street in the South Bronx.
According to a 2023 Community Service Society poll, 82% of New Yorkers support the policy. Support was especially high among Black and Latinx residents, at 86% and 84%, respectively.
Myrie said the proposed legislation would make homeownership a possibility for New Yorkers battling the housing insecurity crisis.
"I am honored to stand alongside tenants and advocates to rally in support of TOPA and affordable housing," he said. "I grew up in rent stabilized housing, and without TOPA, homeownership would likely be impossible for people like my mother."
Mitaynes said TOPA seeks to empower tenants should their landlords decide to sell.
“For tenants, an apartment is more than just a commodity meant to be bought and sold; It's a home that has allowed them to build a life and create community” she said.
