The Department of Housing Preservation and Development (HPD) offers incentive programs for people who buy buildings the City has foreclosed on.
The Division of Alternative Management (DAMP) encourages community growth by returning City-owned buildings to responsible private owners.
Residential portions of properties sold through DAMP receive property tax reductions. Benefits can last for up to forty years.
Please refer to the NYC Department of Housing Preservation and Development (HPD) to learn more about how to apply for this program.