09/17/2026
VKV, along with our Of-Counsel, Yolande I. Nicholson and our co-counsel at Ropes & Gray and White & Case, have secured a $60 million recovery on behalf of NYC homeowners whose properties were seized - WITHOUT COMPENSATION - under the city's Third Party Transfer program. Seven years of litigation, including a reversal at the Second Circuit and a ruling from the Supreme Court, have brought us to today.
This recovery, if approved by the Court, will stand as one of the LARGEST sums NYC has paid out in the past decade. It reflects years of representation for hundreds of families, the majority from Black and brown communities, who lost their homes and the equity built up across generations.
New York City has agreed to a $60 million proposed class action settlement with homeowners whose properties were seized in Round 10 of the City's Third Party Transfer (TPT) program without compensation for the equity they had built in their homes.