438 and 440 W. 45th St. — Approximate Site of Tenant Purchase Rally
Tenants of 438 and 440 West 45th Street gathered outside their Hell’s Kitchen buildings, demanding that state and city lawmakers give renters like them the power to buy their own homes before landlords can sell to the highest bidder. The rally centered on two bills that would reshape how buildings change hands in New York: the Tenant Opportunity to Purchase Act and the Community Opportunity to Purchase Act.
The tenants said their landlord had let the two buildings fall into disrepair, according to Brick Underground, which reported that renters spoke in support of legislation that would give tenants, nonprofits, and community land trusts a formal opportunity to purchase their buildings before a sale closes. As w42st.com reported, tenants rallied outside the buildings on March 29, calling on the New York State Legislature and New York City Council to pass TOPA and COPA.
What the Purchase Bills Would Do
TOPA and COPA are designed to give residents and community groups first crack at buying a building when it goes up for sale, rather than leaving the decision entirely to a landlord and outside investors. State Assembly member Marcela Mitaynes, who sponsored TOPA in the Assembly, said last year she was optimistically hopeful about getting the bill passed into law that session, the outlet’s report noted. That optimism was an expression of hope at the time, not confirmation the bill became law…