COPA in NYC: The Timeline Brooklyn Sellers Must Understand Before Listing in 2026

When most Brooklyn homeowners think about selling, they imagine preparing their property, pricing it correctly, launching marketing, welcoming buyers, and entering the market on their own timeline.
But if the proposed Community Opportunity to Purchase Act (COPA) moves forward in New York City, that familiar timeline could change dramatically — especially for sellers in multifamily buildings.

Understanding COPA isn’t just about understanding a new rule. It’s about understanding timing, and timing, as any musician knows, can make or break a performance.

Before becoming a Brooklyn real estate broker, I spent years training as a tenor. In music, every entrance, every breath, and every cue matters. Real estate isn’t that different. When the timing is off, the entire performance — or in this case, a sale — can fall out of harmony.

COPA introduces a timing structure that Brooklyn sellers must navigate long before they ever list their home. And that timeline may redefine how owners prepare for the market in 2026.

What Is COPA — and Why Does the Timeline Matter?

COPA gives qualifying nonprofits the first opportunity to purchase certain multifamily buildings before the property can be listed publicly. The intent is to preserve affordability by giving mission-driven organizations priority access to properties that could otherwise change hands rapidly in the private market.

But for sellers, this introduces a multi-layered timeline that can add months to the sales process.

While much of the public conversation has focused on fairness, competition, or potential pricing constraints, the most immediate impact for sellers is the delay. According to recent reporting in The Wall Street Journal and The Real Deal, similar legislation in other cities has resulted in longer transaction times, more complex negotiations, and a need for sellers to prepare far earlier than before.

The COPA Timeline: Step by Step

If COPA is implemented as currently outlined, here’s the timeline Brooklyn sellers must follow:

1. 180 Days — Mandatory Advance Notice to HPD

Before a seller can list, market, or discuss the sale of their building, they must notify New York City’s Department of Housing Preservation and Development (HPD).
This notice must occur at least 180 days before the property becomes available.

Six months is a significant lead time — especially for owners who typically begin preparing only 30–60 days before listing.

2. 60 Days — Nonprofits May Express Interest

Once HPD receives notice, qualifying nonprofits receive a 60-day window to express formal interest in the property.

During this time, sellers must pause their sale plans and wait for responses.

3. 60 Additional Days — Nonprofits May Submit Offers

If a nonprofit expresses interest, they receive another 60-day period to make an offer.

This means sellers could face:

✔ 60 days of waiting for interest
✔ 60 days of waiting for an offer
✔ 180 days before listing

Total potential delay: up to 120 days on top of the six-month advance notice.

And that’s before the property reaches the open market.

Why These Delays Matter for Brooklyn Sellers

In a traditional sale, timing is one of the biggest strategic advantages a seller has. You decide when the market is strongest, when buyers are most active, and when your personal timeline aligns with your financial goals.

COPA shifts that control.

1. It Compresses Opportunities for Peak Pricing

Each year, Brooklyn sees clear sales cycles — spring and fall markets are the strongest, while summer and mid-winter tend to cool.
If you must notify HPD 180 days in advance, you may need to make decisions about your sale six months before peak buyer demand even arrives.

2. It Adds Uncertainty to Planning

The New York Times notes that uncertainty in real estate regulation has historically led some owners to delay selling entirely, especially if the process becomes more complicated.

3. It May Affect Negotiation Power

If a nonprofit makes an offer, sellers are required to navigate a negotiation process before going to the open market.
This can:

• slow down the sale
• reduce competition
• potentially impact pricing and leverage

While nonprofits must offer “fair market value,” the mechanisms for determining that may vary from those used in competitive open-market bidding.

How COPA Could Influence Brooklyn’s 2026 Market

Brooklyn’s housing market is already defined by:

• high demand
• limited inventory
• rising prices in neighborhoods like Park Slope, Windsor Terrace, Bay Ridge, and Carroll Gardens
• strong competition among qualified buyers

If COPA adds extended delays, many owners may decide to prepare earlier — or postpone selling altogether.

According to The Real Deal, similar laws in other major cities have triggered:

• sellers listing earlier than planned
• nonprofits partnering with private developers
• longer due diligence periods
• increased attorney involvement earlier in the process

For Brooklyn, this may translate into:

Earlier Preparation

Owners considering a 2026 sale will need to begin strategizing in late 2025, not early 2026.

More Legal Coordination

Attorneys, lenders, and brokers will need to align earlier to ensure compliance.

More Sophisticated Pricing Strategies

If nonprofits enter the conversation first, sellers will need clearer data, comps, and market analysis to define fair market value before listing.

A Musician’s Take: The Importance of Timing

When I taught music, I reminded my students that starting a piece too early or too late throws off the entire ensemble. In real estate, the ensemble is:

• buyers
• lenders
• attorneys
• inspectors
• appraisers
• and you

COPA adds a new “conductor” to the stage — a regulatory timeline — and that means every seller must adjust their tempo.

The good news? With the right preparation, clarity, and representation, sellers can still navigate the process successfully.

How Brooklyn Sellers Can Prepare Now

If you’re considering selling in 2026, here’s how to stay ahead:

1. Start Your Timeline Early

Think 6–12 months ahead instead of 2–3 months.

2. Get a Broker Who Understands COPA

Local expertise matters — especially when timelines affect pricing.

3. Organize Your Records

A complete documentation package strengthens your position in any offer review, nonprofit or otherwise.

4. Plan for Multiple Scenarios

Including nonprofit interest, open-market listing strategies, and post-COPA negotiations.

5. Stay Informed

COPA is evolving, and updates will continue into 2025 and 2026.

Final Thoughts

COPA introduces a new rhythm to selling real estate in Brooklyn — one that requires precision, foresight, and a deeper understanding of market timing.

But with the right preparation, sellers can still achieve strong pricing, smooth transactions, and confident outcomes.

If you’re planning to sell in 2026 and want clarity, strategy, and local expertise tailored to your building, I’m here to guide you.

I’m Peter Mancini with Pen Realty — delivering A Signature Experience.
Explore seller resources at PenRealty.net/blog.