A class-action lawsuit filed against New York City and its partnering developers alleges the Third Party Transfer program unfairly aided gentrification, is pushing out Black and Latino residents, and has siphoned millions of dollars from families of color.
Sherlivia Thomas-Murchison, right, and her two children became homeless when the city of New York retained ownership of her home.Sherlivia Thomas-Murchison's mother worked for nearly 25 years to make sure her family had a permanent home in the Brooklyn borough of New York City.
The transfer happened through a controversial citywide program called the Third Party Transfer program, or TPT, which experts who spoke to NBC News said has had an outsize effect on Black and Latino homeowners. Thomas-Murchison is one of three lead plaintiffs in a class-action lawsuit against New York City and its partnering developers, alleging that the program unfairly aided gentrification, is pushing out Black and Latino residents and has siphoned millions of dollars from families of color.
It is unlikely that the plaintiff homeowners will get their homes back, but they are asking for payment in the amount of lost equity and wealth, which they estimate to be a collective $1 billion, said Gregg Weiner and Matthew Berman, attorneys for the plaintiffs. In 2019, Thomas-Murchison told the New York Senate in written testimony that her family and neighbors had lost at least a cumulative $20 million in"real, personal and future assets" because of the program.
"At a time when homeownership is increasingly inaccessible for all New Yorkers, the TPT program has facilitated the loss of homes and wealth for the city's marginalized residents," she said."This is especially true among Black homeowners, who primarily reside in areas which were very recently considered unworthy of investment, yet are now sites of real estate speculation.
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