Home Buying in Brooklyn>Question Details

Carrie, Home Buyer in Brooklyn, NY

how do you find HDFC apts in NYC?

Asked by Carrie, Brooklyn, NY Mon Dec 2, 2013

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If you would like to buy mine contact me at stephencorbo1214@gmail.com the price is 310K the apartment is at 303 west 122nd apt66 600 square feet
0 votes Thank Flag Link Tue Feb 4, 2014
There is no one place or agency to find HDFC apartments for sale. Each building is self managed and although they were all initially started under the direction of HPD (City agency) HPD does not keep tabs on them. They generally started during the 1970's when landlords were walking away from buildings due to high real estate taxes and heat & hot water bills etc. As the initial generation are moving on there should be many coming on the market....but due to HPD not keeping tabs on them they are very difficult to find and some occupant mangers just do not want "new young people" moving in!
Many apartments never get put back on the market again as long time residents, pass on or move on. I know of one building in my neighborhood, that the remaining long term (co-op board) rent out the vacant units as if they owned the whole building and are profiting from it! Sometimes it is very much a matter of, you need to know someone that knows someone to get into them.
The better managed buildings are listed just like other co-ops on the open market, of course the buyer does need to be in the required income range and family size for the size of apartment, but the apartments can be sold to the highest bidder for what the market will bare.
They are generally priced lower than the average for the neighborhood that they are located in. They do exist in almost all neighborhoods.
It takes a bit of work to find them, but for long term stable affordable housing it is worth the effort.
Kathryn Lilly, Broker
Realty on the Greene, LLC
0 votes Thank Flag Link Tue Dec 3, 2013
0 votes Thank Flag Link Tue Dec 3, 2013
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