A5841 (2025-26 session)

NY State bill

Provides that a plan may not be declared effective for conversion to cooperative or condominium ownership until written purchase agreements have been executed and delivered for at least twenty-five percent of all dwelling units in the building or group of buildings and written consent has been obtained from the bona fide tenants who were in occupancy of fifty-one percent of the dwelling units in the building or group of buildings or development on the date a letter was issued by the attorney general accepting the plan for filing.

Title
Relates to the conversion of certain real property to cooperative or condominium ownership in the city of New York
Type
New York State Assembly bill
Session
2025-26 session
Status
In Assembly Committee
Latest action date
2026-01-07
In committee
Housing
Introduced
2025-02-24
Law section
General Business Law

Sponsors

Heard in committee

Sources