Hdfc

Yes, it is possible but rare. There are very few new HDFC's being formed, and as such, few opportunities such as this.

HDFC is a program that was created so that the City could offload the thousands of buildings it had taken over (non-payment of taxes etc.) and was pouring millions of dollars into for inept inefficient substandard repairs. The City has dumped pretty much all of those by one means or another. So beyond unlikely that there will be new ones.

The few new ones that are coming on line are being done by predatory self-serving organizations like UHAB. Believe me, you want nothing to do with those. The first thing they do is the buildings with massive amounts of debt for inadequate, poorly chosen, poorly planned, and overpriced renovations. Well, that's the first thing after moving the homeless into vacant apartments. Then they lock the building up for 35 years or so, so it can collapse under its own weight of "affordable" housing constraints.

Good luck.

Being somewhat dissatisfied with all the candidates currently running for national office, my write-in choice is going to be "Streeteasy Alanhart, not-to-be-confused-with-any-other Alan Hart."

Alan is not wrong about UHAB. They want HDFC buildings to remain weak, poorly run and dependent on their 'expertise'.

Eastharlemlifer, Some HDFCs allow renting as spelled out in their proprietary lease. Renting and buying are not related and not sure if renters need to follow the income restrictions buyers have to.