NYC Council Declines to Override COPA Bill Veto

February 3, 2026

The New York City Council failed to override former Mayor Eric Adam’s veto of the Community Opportunity to Purchase Act (COPA), which effectively stops the legislation for the time being. The bill passed in December on a 31-10 vote and is supported by current Mayor Zohran Mamdani, which means the bill will likely be reintroduced this year. 

Why it matters: As originally drafted, COPA Int 0902-2024 would have applied an additional waiting period and processes to every multifamily building sale in the city. The bill saw several updates that narrowed the scope to distressed buildings and reduced the overall timeframe.

  • CREFC submitted a letter to council members highlighting its concerns with the legislation. Click here for the full letter. 
  • The bill passed on December 18 by a 31-10 margin (not including seven abstaining and three absences), which was short of the 34 votes (2/3 threshold) to overcome a mayoral veto. 
  • While the bill did not muster a supermajority, the mayoral support and comfortable margin make it more likely some version of COPA will be reintroduced and acted on this year. 

What they’re saying: The new Council Speaker, Julie Menin, declined to bring the measure for an override as it did not pass with the required supermajority. Menin had abstained from voting in December and has declined to indicate her support, even amid public pressure from Mamdani to schedule an override vote. 

The bill’s author, Council member Sandy Nurse, reiterated her commitment to the effort in a statement to the Gothamist:

…COPA has been the Progressive Caucus’s top priority for four years and we are not backing down. The bottom line is this: if we do not have stronger protections to keep working class New Yorkers here, they will continue to leave. I look forward to working with Speaker Menin on re-introducing the bill and passing it this year.

Yes, but: According to Politico, the mayor’s law department raised concerns to lawmakers that COPA could “unlawfully restrict a property owner’s commercial speech rights to engage with the market” and be subject to legal challenges “due to a constitutional prohibition against placing certain restrictions on private property usage.” 

The bottom line: Expect the City Council to act on the bill again this year amid fierce support from advocates and criticism from the opposition. Even with a narrowed scope and timeframe, COPA—if passed—will likely be subject to legal challenges. 

Contact David McCarthy (dmccarthy@crefc.org) with questions. 

Contact 

David McCarthy
Managing Director,
Chief Lobbyist, Head of Legislative Affairs
202.448.0855
dmccarthy@crefc.org
The information provided herein is general in nature and for educational purposes only. CRE Finance Council makes no representations as to the accuracy, completeness, timeliness, validity, usefulness, or suitability of the information provided. The information should not be relied upon or interpreted as legal, financial, tax, accounting, investment, commercial or other advice, and CRE Finance Council disclaims all liability for any such reliance. © 2026 CRE Finance Council. All rights reserved.

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