Home Buying in 10026 : Advice

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NYC HDFC, Other/Just Looking in New York, NY
NYC HDFC answered:
I rent an apartment in a HDFC Building is this against the by laws.
Although it is discouraged, it does not violate the statue to rent HDFC housing. It is a violation to rent to persons who do not identify as low-income earners keeping in mind that the ... more
0 votes Share Flag Wed Nov 12, 2014 Home Buying in 10026
sgreen2356, Home Owner in New York, NY
sgreen2356 answered:
Information on benefits and pitfalls of buying an HDFC co-op in Harlem?
Inquire at:
Housing Preservation and Development.
TIL Program
100 Gold St.
New York, NY 10007

HPD sponsors the: Tenant Interim Leasing" Program which ultimately prepares the b ... more
0 votes Share Flag Thu Apr 3, 2014 Home Buying in 10026
Fern Hamberg…, Real Estate Pro in 10026
Fern Hamberger NYRS CNE CBR answered:
Are Income limits gross or adjusted?
Income limits are based on Gross income in an HDFC building.
And it varies with the number of households; the number of people living in the apartment
And their collective income.
Q ... more
0 votes Share Flag Tue Jul 9, 2013 Home Buying in 10026
Michele Port…, Real Estate Pro in New York, NY
Michele Portnof answered:
Does owning real estate (a home in another state) make me ineligible for an HDFC apartment purchase in NY?
There are many rules and regulations involved in purchasing an HDFC apartment. The guidelines are strictly observed. If you fall under the income cap for the specific building and this ... more
0 votes Share Flag Mon Jul 1, 2013 Home Buying in 10026
Michele Port…, Real Estate Pro in New York, NY
Michele Portnof answered:
I'm looking to buy an HDFC apartment in Harlem.
Elisabeth,
This doesn't sound like a building that has a good handle on its finances. While many HDFC buildings struggle at the beginning, if the board members are actively involved, t ... more
0 votes Share Flag Mon Jul 1, 2013 Home Buying in 10026
Kontina Pipp…, Real Estate Pro in New York, NY
Kontina Pippen answered:
all low income coop belong to HDFC, is there other organization which can provide low-income coop
HDFC's are one type of low-middle income co-op in NYC. They are the most common. Many have financial issues but if you are willing to think outside the box and work to help a communit ... more
0 votes Share Flag Tue May 21, 2013 Home Buying in 10026
Adina Greenb…, Real Estate Pro in New York, NY
Adina Greenberg answered:
I have to wait for five apartments including mine to convert to HDFC co-op in order to close. How long do these conversions take?
Do you mean the whole building? It's never just one (or 6) that become HDFC, or coop or condo. It's always the entire building. If you want to find out how long it takes for the buildi ... more
1 vote Share Flag Mon Jun 25, 2012 Home Buying in 10026
Holly Willia…, Real Estate Pro in Harlem, New York, NY
2010 Upper Manhattan Townhouse Sales & Trends Report Read more
Blogged Tue Mar 15, 2011 by Holly Williams Market Conditions Home Buying Home Selling
No comments
Kingsnyc, Real Estate Pro in New York, NY
Kingsnyc answered:
Would I be ineligible to purchase an HDFC co-op with a $192K income restriction if my current salary (before any taxes or other reductions) is $210K?
The fact that someone with a $200K income is getting a public subsidy is absurd!
0 votes Share Flag Sat Mar 5, 2011 Home Buying in 10026
Terry Koraha…, Real Estate Pro in Queens, NY
Terry Korahais answered:
When can I claim the homebuyer tax credit?
Hi J Raymond, you can either amend last years tax return or wait for 2010 returns...I would talk to your accountant and see which he would recommend depending on your situation. Terry ... more
0 votes Share Flag Fri Sep 24, 2010 Home Buying in 10026
Michele Pete…, Real Estate Pro in New York, NY
Michele Peters Esq answered:
Can I include a condo sold at a nice price via a lottery as a comparable?
Zillow is not a true indicator of value and is not accepted by banks or courts. Please use an experienced broker to assist you who knows how to access ACRIS information and is a member ... more
0 votes Share Flag Wed May 26, 2010 Home Buying in 10026
Anna Brocco, Real Estate Pro in Nassau County, NY
Anna Brocco answered:
What are NYC's Sound Proofing Requirements for new construction? What are the most effective materials to look out for?
Do keep in mind that when living any building surrounded by neighbors there is a good chance of hearing your neighbors--ask if any additional soundproofing material was used--concern yo ... more
0 votes Share Flag Tue Mar 2, 2010 Home Buying in 10026
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