NY A06100

Requires owners of rental properties to give tenants the first opportunity to purchase their building before selling to third parties, with qualified nonprofit purchasers receiving second priority if tenants decline

Establishes specific timelines for the purchase process: tenants have 20-45 days to express interest depending on property size, 21-120 days to submit an offer, and 30-160 days to secure financing after a contract is signed

Creates a certification system through NY Homes and Community Renewal (HCR) for "qualified purchasers" (nonprofits committed to affordable housing) and "supportive partners" (organizations that help tenants form tenant organizations and navigate the purchase process)

Imposes permanent affordability restrictions on properties purchased under this act, limiting annual price appreciation to 3% and requiring units remain affordable to households at or below 80% of area median income for 99 years

Authorizes civil penalties of up to $1,000 per day per unit for owners who violate the act, plus damages of 10-30% of the sale price for knowing or willful violations, payable to the NY Housing Trust Fund