From today...

basically announcing his plan to transfer ownership of buildings with chronic neglect from landlords to non-profits, community land trusts, or tenants as "responsible stewards."


Goodbye demand and property prices in NYC!

NOW: Mamdani says his admin will transfer ownership from bad landlords to non-profits.

“For buildings that have suffered chronic neglect, we will work to transfer ownership to responsible stewards.

Stewards that include community land trusts, non-profits, or even the tenants… pic.twitter.com/YHhzGWPgWh

— Brecca Stoll (@breccastoll) May 26, 2026

Logos Stick said:

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From today...

basically announcing his plan to transfer ownership of buildings with chronic neglect from landlords to non-profits, community land trusts, or tenants as "responsible stewards."


Goodbye demand and property prices in NYC!

NOW: Mamdani says his admin will transfer ownership from bad landlords to non-profits.

“For buildings that have suffered chronic neglect, we will work to transfer ownership to responsible stewards.

Stewards that include community land trusts, non-profits, or even the tenants… pic.twitter.com/YHhzGWPgWh

— Brecca Stoll (@breccastoll) May 26, 2026

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Who knows, he may be saying they will buy them but the use of the term "transfer" is peculiar. It would be quite hilarious to see some of these "not-for-profits" get called slumlords once they realize it isn't economically viable to fix these building with rent frozen where it is.

Last week, a bill passed the house 396-13 prohibiting large institutional investors from owning, directly or indirectly, single family homes.

I think there are 396 people that need the same attention Mamdani gets for encroaching on private property rights.

MouthBQ98 said:

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Unconstitutional

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Are they going to try the eminent domain route to gain title before such a transfer, I assume? Can't transfer title that is not owned.

Not seeing how this would legally work.

And how, exactly, is his dumb ass going to just transfer ownership of private property in the USA?

What an absolute idiot this guy is

I've already seen this movie....

AgBQ-00 said:

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pinko commie going to pinko commie

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Nothing pink about this guy, he is full red commie

MaxPower said:

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Logos Stick said:

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From today...

basically announcing his plan to transfer ownership of buildings with chronic neglect from landlords to non-profits, community land trusts, or tenants as "responsible stewards."


Goodbye demand and property prices in NYC!

NOW: Mamdani says his admin will transfer ownership from bad landlords to non-profits.

“For buildings that have suffered chronic neglect, we will work to transfer ownership to responsible stewards.

Stewards that include community land trusts, non-profits, or even the tenants… pic.twitter.com/YHhzGWPgWh

— Brecca Stoll (@breccastoll) May 26, 2026

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Who knows, he may be saying they will buy them but the use of the term "transfer" is peculiar. It would be quite hilarious to see some of these "not-for-profits" get called slumlords once they realize it isn't economically viable to fix these building with rent frozen where it is.

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They will soon pass COPA, which gives these groups the right of first refusal on sales.

So here is what will happen:

1. NYC government fines the absolute crap out of them,
2. they are forced to sell because of these fines and the price plummets
3. the non-profits (who are controlled by the NYC government) will buy the property.

very true

Sims said:

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Last week, a bill passed the house 396-13 prohibiting large institutional investors from owning, directly or indirectly, single family homes.

I think there are 396 people that need the same attention Mamdani gets for encroaching on private property rights.

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I think the best answer is a minuscule tax that increases per property owned that would be negligible for a landlord owning 10 homes but unprofitable for a "landlord" owning 10,000+ homes.

In general sense I feel bad for them but anyone who owns rental property in NYC should have sold it 5 years ago. You have to be a complete moron to own rental property in today's market.

MouthBQ98 said:

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Unconstitutional

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NYC can condemn a property if the health/safety departments deem the property has significant safety issues. The condemnation means that the structure cannot be occupied. The city can force the owners to make repairs. If the owners do not then the city can make the repairs or even foreclose on the property.

For a city to constitutionally condemn and take private property, it must meet tests mandated by the fifth amendment of the U.S. Constitution.

DG-Ag said:

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And I'm sure they will have a very narrow definition of "chronic neglect."

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Well, have you ever been in a non-elite apt in NYC? They are all chronically neglected.

Primarily, I would guess, because of rent control.

Another socialist idea not rooted in reality

Arrest him. Pitiful plan and antithetical to humanity, the Governemnt should have practically zero power because when they have as much as they do now, idiots like this are the result.

Miami realtors watching Mamdani's plan to "transfer ownership" from landlords pic.twitter.com/N6f0F6BA1P

— End Wokeness (@EndWokeness) May 26, 2026

Easier said than done, and the current Court could be of a mind to overrule Kelo.

I can see a sudden proliferation of Somali non-profits spring up in NYC!

doubledog said:

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MouthBQ98 said:

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Unconstitutional

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NYC can condemn a property if the health/safety departments deem the property has significant safety issues. The condemnation means that the structure cannot be occupied. The city can force the owners to make repairs. If the owners do not then the city can make the repairs or even foreclose on the property.

For a city to constitutionally condemn and take private property, it must meet tests mandated by the fifth amendment of the U.S. Constitution.

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College Station did this to a property owner about 25 years ago when they were redeveloping the area behind the Dixie Chicken. They condemned a "blighted" property so that Texadelphia sandwich shop could move in. I think they lasted less than five years. It was BS.

Thank you SCOTUS for the Kelo decision.

Burdizzo said:

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Thank you SCOTUS for the Kelo decision.

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This was my first thought.

Maybe SCOTUS can roll back part of KELO here? Limit it to uselessness? That would be great.

MouthBQ98 said:

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Unconstitutional

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Depends on how they do it. The SAFER Homes Act would allow the City to seize properties that are behind on property taxes and other bills. That would seem constitutional, as forced-selling of property for nonpayment of taxes is constitutional. COPA is unconstitutional on its face.

superaggie73 said:

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I don't see any way in hell that it can stand up in court. It's 100% unconstitutional.

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DG-Ag said:

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And I'm sure they will have a very narrow definition of "chronic neglect."

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BusterAg said:

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Burdizzo said:

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Thank you SCOTUS for the Kelo decision.

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This was my first thought.

Maybe SCOTUS can roll back part of KELO here? Limit it to uselessness? That would be great.

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Most states passed laws after Kelo that effectively nullified it.

Yes. They can't just take it. They have to first create a satisfactory legal pretext for forcing the sale of it as a distressed asset, or force it to be abandoned, condemned. Then if the tax es and fines aren't paid they can take it, and should have to auction it, in which case they then have to outbid other buyers for it. My guess is the state has given local government some authority to bypass much of the in a fashion similar to eminent domain powers.