Politics

City Council weighs new legislation on nonprofit home ownership that could end up delaying real estate closing

By Claude Solnik
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The New York City Council is considering legislation designed to give nonprofits greater access to residential and commercial real estate that goes on the market — but with a potentially costly catch.

Sources with the real estate industry say the bill, if enacted, could increase costs and add significant delays and complicate borrowing, which could affect property sales.

See the full article at amNY

City Council weighs new legislation on nonprofit home ownership that could end up delaying real estate closing

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