A Major Victory for Fairness in NYC Co-Ops

Decades of REALTOR® Advocacy Deliver Long-Overdue Transparency and Consumer Protection

After decades of sustained advocacy, the New York City Council has passed Intro. 1120-B. Once this bill is signed into law, New York City co-op boards will finally be required to respond to completed purchase applications—bringing the city in line with accountability standards long established in many suburban counties across New York State.

This landmark, common-sense legislation creates a clear 45-day response timeline, delivering long-overdue transparency, predictability, and fairness to the co-op housing market. The reform reflects years of collaboration and persistence by New York State REALTORS® (NYSAR), the tireless advocacy of Queens REALTORS® through LIBOR, and the leadership of fair-housing champions within the New York City Council.

We are incredibly excited to see this legislation move forward after decades of advocacy,” said LIBOR CEO Doreen Spagnuolo. “We look forward to Mayor Adams signing this bill into law—closing a longstanding fair housing loophole and providing critical protections, especially for first-time homebuyers seeking a fair opportunity to achieve the American Dream.”

REALTORS® particularly want to thank sponsor and City Council Majority Leader Amanda Farías (D-Soundview) and the diverse coalition of Council Members from Queens who cosponsored this measure: Hons. Nantasha Williams (D-St. Albans), Robert Holden of (D/R-Middle Village), Selvena Brooks-Powers (D-Rosedale/Far Rockaway), and Tiffany Cabán of (D-Astoria).

LIBOR remains energized and committed to working closely with its members and local leaders in the year ahead as we continue advancing fair housing opportunities, consumer protections, and greater transparency across our region.