Establishes the "tenant opportunity to purchase act"; prevents the displacement of middle and lower-income tenants in New York; preserves affordable housing by providing an opportunity for tenants to own or remain renters in the properties in which they reside.

This bill, known as the Tenant Opportunity to Purchase Act, would give tenants the first right to buy their apartment buildings when an owner decides to sell. It outlines specific procedures for owners to offer the property to tenants or tenant organizations, defines who qualifies as a "qualified purchaser" to help facilitate these sales, and sets rules for negotiations and pricing to ensure affordability. The law aims to prevent displacement and preserve affordable housing by prioritizing tenants in the sale process.

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