Billionaires are
stealing our homes
right out from
under us
A loophole in New York law lets billionaire investors buy the land under middle-class residential co-ops, hike up the rent, and force families out. It’s already happening and we’re fighting to close the loophole for good.
We're taking on New York's real estate lobby to secure basic protections and keep our families housed.
Own your home,
but rent the ground.
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Ground lease co-ops are a New York original — built in the '50s and '60s as an affordable path to homeownership.
Owners own their apartment, but...
lease the land underneath from a separate landlord.
One reset. Total wipeout.
Every ground lease has a rent reset or lease renewal.
A loophole in state law leaves residents with zero
protection when it hits.
Landowner resets
the rent sky-high
Co-op can't pay, and deconverts to rent-stabilized
Residents lose their equity immediately
Landowners can set the first regulated rent themselves
This is a business opportunity for greedy billionaires.
And we lose our homes.
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Homes
Who is at risk?
Teachers. Civil servants. Retirees.
Multigenerational families who spent decades
building something stable.
