NYC agrees to $60M settlement with owners of 64 seized properties; Zohran Mamdani plans TPT revival

New York City has agreed to pay $60 million to owners of 64 properties seized under its Third Party Transfer program over unpaid taxes and other debts. The settlement follows a class-action lawsuit alleging owners were denied proper compensation. Mayor Zohran Mamdani’s administration is now considering reviving the controversial program with reforms.