Queens Families, Lawmakers Rally for Ground Lease Co-op Bill to Protect 25K+ New Yorkers From Displacement

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QUEENS, NY (03/03/2026) (readMedia)-- Today, outside Hilltop Village Co-op in Hollis, dozens of Queens residents urged the Albany Legislature to pass standard housing protections for more than 25,000 New Yorkers living in ground lease co-ops. Residents in these buildings own their homes but rent the land beneath their co-ops from landowners. With decades-old ground leases beginning to expire, entire co-ops are at risk of losing their homes and equity to rising maintenance costs, while families face added financial pressure under Local Laws 11 and 97.

Watch a recording of the event here and view the attached photos.

Ground lease co-ops are uniquely vulnerable to dramatic rent hikes from their landowners, who hold unilateral power over lease renewals. This power imbalance poses issues for co-ops when seeking loans from banks for necessary repairs and upgrades, while potential new buyers struggle to obtain mortgages, thanks to widespread concerns about co-ops dissolving upon lease expiration. Under these conditions, aging co-ops have few options beyond deferring critical maintenance fixes, which prevents them from complying with citywide Local Laws and other legally-mandated building codes, on top of triggering severe fines.

New York houses nearly 12,000 ground lease co-op apartments across the state, with more than a third of these units located in Queens. The majority of these co-ops are concentrated in middle-class neighborhoods across the outer boroughs, where most residents earn just above the citywide median of $76,000.

Senator Liz Krueger and Assemblymember Linda Rosenthal are sponsoring the Ground Lease Co-op Bill (S2433A/A2619), which would help stabilize conditions for existing co-op owners and new buyers seeking loans, and grant basic tenant protections, including:

• Right to borrow for required repairs and capital improvements
• Right of first refusal
• Tenant protections upon deconversion including rental leases for existing residents

In particular, the legislation would secure reasonable first rents for ground lease co-op residents in the event of deconversion, aligning tenant protections with current rent stabilization laws. S2433A/A2619 would additionally prevent landowners from unilaterally blocking co-ops' ability to borrow for necessary loans and repairs without providing sufficient justification. By solidifying tenant protections upon deconversion and easing lease restrictions on borrowing, the Ground Lease Co-op Bill would protect residents from unreasonable rent hikes, incentivize lending from banks, and stave off displacement.

"Since 1954, Hilltop Village has given thousands of middle-class New Yorkers the chance to own a home and join our tight-knit community. But decades later, nearly 2,000 of us are at risk of losing our homes as we approach our rent reset. Thanks to a lack of housing protections, our families are facing an impossible choice: drain our life savings to cover skyrocketing rent and repair costs or face displacement and heavy fines under the city's Local Laws. Without this bill, Hilltop and our fellow Queens co-ops simply won't survive. We are urging our state legislature to step in and save New York's ground lease co-ops before it's too late," said Pamella Harris, vice president of the Hilltop Village Cooperative Board of Directors and member of the Ground Lease Co-op Coalition.

"Murray Hill Co-op has been home to my family and generations of Queens residents - it's a modern-day village where people build their lives and plan for retirement. Today, ground lease resets are threatening that stability with astronomical increases to land lease rates. I serve on two co-op boards representing over 350 residents: proud, responsible people who paid off mortgages and saved for retirement, only to now face the risk of losing their homes. Queens co-op communities are especially vulnerable having a large number of residents at or near retirement age who are living on fixed income. We are not asking for special treatment; we are asking for fair rules and stability so no one has to fear losing their home late in life," said Derek Chen, Murray Hill Co-op Board Member and member of the Ground Lease Co-op Coalition.

"More than 25,000 New Yorkers call ground lease co-ops home, but as more ground leases near expiration, countless families will be left with the impossible choice of leaving their home and their equity behind or paying a massive increase in maintenance costs," said Assemblymember Linda B. Rosenthal (D/WF - Manhattan), Chair of the Assembly Committee on Housing. "Many of the residents of Hilltop Village Co-op, Murray Hill Co-op and dozens of others across the city never could have imagined when they moved into their homes decades ago that they would eventually be forced out because of an egregious rent reset. We cannot allow the greed of property owners to bring foreclosures and homelessness to thousands of New Yorkers. This session, the Legislature must pass my bill granting protections to residents of ground lease co-ops before it is too late."

"When you buy into a co-op, you are investing your savings, your stability, and your future in that community. Families in ground lease co-ops did exactly that. They played by the rules. They built equity. They maintained their buildings. They should not now face uncertainty because the landowner should not be able to unilaterally reset the terms of the renewal," said Senator Toby Stavisky. "This bill restores balance. It ensures the right to renew, the right of first refusal, and meaningful protections if a building is deconverted. That stability matters for homeowners, for lenders, and for the long-term health of our neighborhoods. Co-op shareholders and landowners both deserve fairness."

About the Ground Lease Co-op Coalition: The Ground Lease Co-op Coalition (GLCC) is a non-partisan coalition of co-op owners from diverse socioeconomic, cultural, and ethnic backgrounds advocating to save their homes amid the statewide housing crisis in New York. Representing more than 25,000 New Yorkers, the coalition supports legislative reform to ensure housing fairness, stability, and affordability for all ground lease co-op residents.

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