Requires multiple dwelling building owners to provide notice to tenants and tenant associations of certain sales and provides tenant association with opportunity to purchase multiple dwelling.

This bill requires owners of multiple dwelling buildings in New Jersey to notify tenants and tenant associations before certain sales, such as those involving mortgages or short sales. It grants tenant associations the right to purchase the building if at least 51% of the occupied units are represented by the association. If a tenant association decides to buy the property, they can use a designated nonprofit, housing authority, or a joint venture to secure the financing and ensure the building remains affordable. The law defines specific terms like "multiple dwelling" and "inclusionary development" to clarify which properties and housing outcomes are covered.