New York City Democratic Mayor Zohran Mamdani plans to seize neglected properties from landlords and transfer them to new ownership groups. 
“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 themselves,” Mamdani said. “When necessary we will take aggressive legal action to remove negligent owners and property managers.” 
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<div class="image"><img loading="lazy" decoding="async" class="alignnone wp-image-1101969 size-large" src="https://dw-wp-production.imgix.net/2026/05/Screenshot-2026-05-26-at-1.05.08-PM-477x576.png" alt="" width="477" height="576" srcset="https://dw-wp-production.imgix.net/2026/05/Screenshot-2026-05-26-at-1.05.08-PM-477x576.png 477w, https://dw-wp-production.imgix.net/2026/05/Screenshot-2026-05-26-at-1.05.08-PM-248x300.png 248w, https://dw-wp-production.imgix.net/2026/05/Screenshot-2026-05-26-at-1.05.08-PM-768x927.png 768w, https://dw-wp-production.imgix.net/2026/05/Screenshot-2026-05-26-at-1.05.08-PM.png 1204w" sizes=" (max-width: 477px) 100vw, 477px" /></div>
Mamdani did not detail how the city would legally seize or transfer ownership of privately held properties. One possible mechanism is New York City’s controversial <a href="https://www.nyc.gov/site/finance/property/property-in-rem-forclosure.page">Third Party Transfer (TPT)</a> program, which allowed the city to foreclose on distressed buildings whose owners owed back property taxes or water charges and had accumulated significant housing code violations before transferring them to nonprofit housing groups or tenant organizations. 
Under the program, landlords who failed to resolve violations or pay city debts could face foreclosure proceedings initiated by the city. Once the city gained control of a property, ownership could then be transferred to nonprofits, community land trusts, or tenant groups.
<blockquote class="twitter-tweet" data-media-max-width="560">
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… <a href="https://t.co/YHhzGWPgWh">pic.twitter.com/YHhzGWPgWh</a>
— Brecca Stoll (@breccastoll) <a href="https://twitter.com/breccastoll/status/2059289647688106237?ref_src=twsrc%5Etfw">May 26, 2026</a></blockquote>
Critics argued the policy enabled the government to strip owners of valuable equity through aggressive code enforcement and foreclosure actions.
The TPT program was paused in 2019 after backlash from property-rights advocates and elected officials. The New York City Council is currently considering legislation that could <a href="https://www.thecity.nyc/2026/03/09/third-party-transfer-reform-city-council-landlords-property/">restart</a> the program. 
Mamdani said his “rental rip-off” hearings were instrumental in shaping his housing agenda. The Daily Wire attended the first hearing in Brooklyn and spoke with tenants paying well below-market rents in stabilized apartments who urged Mamdani to freeze rents while also demanding repairs and building improvements from landlords.
Mamdani’s latest housing proposal appears aimed at balancing those competing pressures.
On Tuesday, Mamdani also appeared to backtrack on his campaign promise to impose a blanket rent freeze on rent-stabilized apartments. Under his revised proposal, some exempted landlords would still be allowed to impose a one-time rent increase on vacant units even if a rent freeze is enacted. 
The Wall Street Journal <a href="https://www.wsj.com/real-estate/mamdani-says-these-nyc-landlords-will-be-exempt-from-his-rent-freeze-ee53180c?mod=hp_lead_pos5">reported</a> that dozens of landlords could qualify for the exemption. Rent-stabilized apartments are currently subject to a 3% cap on annual rent increases for one-year lease renewals.

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Mamdani Wants To Decide Who Deserves To Keep Their Property

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Mamdani Wants To Decide Who Deserves To Keep Their Property