Why 2017 could be make-or-break for New York's affordable HDFC co-ops

… Development Fund Corporation a type of housing meant to be priced below market value to make them affordable  As Mayor … Most pressing however is the issue of mandatory thirdparty monitoring for all HDFC coops receiving tax breaks a … well on their own While UHAB is generally in favor of monitoring their stance is that the requirements as theyre …

By Virginia K. Smith |January 12, 2017 - 8:59AM
Why are rich kids able to buy affordable HDFC apartments?

… and generally much lower sale prices than comparable apartments on the market Many HDFC buildings were neglected … favors welloff buyers looking for HDFCs purchases of these apartments frequently require an allcash deal In large part … buildings are subject to flip taxes to discourage reselling afforable apartments at a high price housing advocates are …

By Virginia K. Smith |September 27, 2016 - 8:59AM
How I found my $386K HDFC apartment after a three-year search

… When we decided to move back to New York in 2012 we were eager to buy an apartment but werent sure we could afford one on a … A week later during a sealed bidding process we gave our best offer of $386000 which was accepted And just like that …

By Craigh Barboza |October 22, 2015 - 8:59AM