New York Assembly Bill A02619

New York 2025-2026 Regular Session

• Introduced: 1/21/25
• Refer: 1/21/25
• Report Pass: 5/19/25
• Refer: 5/19/25

Caption

Establishes certain rights upon the expiration of ground lease residential cooperative apartment buildings.

Impact

The implementation of this bill is expected to significantly affect the rights and protections of tenants in ground lease residential cooperatives across New York. By providing clear processes for deconversion and establishing tenants’ rights upon such changes, the bill aims to protect residents from potential displacement and rent increases that could arise at the end of a ground lease. This move likely aligns with broader legislative efforts to bolster tenant protections in a competitive housing market, particularly in urban areas like New York City where housing stability remains a pressing issue.

Summary

Bill A02619 aims to amend the real property law in New York concerning rights related to ground lease residential cooperative apartment buildings upon the expiration of such leases. The bill mandates that within ten days of the expiration or termination of a ground lease, the residential cooperative must initiate the process to dissolve and convert to standard tenant leases. These newly established tenants would be provided rental leases under the Emergency Tenant Protection Act of 1974 and related statutes, thereby ensuring a level of protection and stability for tenants in these cooperative buildings.

Contention

There are several points of contention surrounding Bill A02619. Supporters advocate for the introduction of tenant protections, arguing that it provides necessary support for individuals who may be at risk of losing their homes due to complex lease arrangements with ground lease owners. Critics, however, may raise concerns that the bill could infringe on property owners' rights and complicate housing market dynamics, particularly as it imposes new responsibilities on ground lease owners to comply with tenant entitlement processes. The tension between tenant protections and property rights continues to be a central theme in discussions within the legislature.