686 Washington Ave. in Brooklyn Before/After Rehabilitation Financed through Small Buildings Loan Program
HPD offers eligible owners a variety of low-interest loans for moderate to major renovations of vacant or occupied smaller buildings (as well as buildings with more than 20 units). Only buildings with low and moderate rent levels are eligible for these loans. Real estate tax benefits may be available to borrowers.
Sometimes, these low-interest funds are combined with financing from a lending institution to provide a low-cost loan tailored to the owner's needs. Depending on the loan, borrowers may be required to make a cash payment toward the project's total cost as equity. The loan may cover limited acquisition or refinancing costs, but only if most of the loan is reserved for rehabilitation costs.
Restructuring Program: Owners within the Housing Development Corporation (HDC) insured Mitchell-Lama portfolio may apply to restructure the first and second mortgages held on the properties.
Is the New York City residential building you own in need of repairs?
Fill out this form to contact HPD loan experts to discuss how they can help you address your building's needs with a variety of low-interest loans.
Owners' Night: An Evening Dedicated to Helping New York City's Property Owners
Roughly twice each month, HPD invites owners in a targeted community to an Owners Night event where representatives of many governmental and community-based organizations present the services they offer and answer questions concerning how to maintain and improve homes, buildings and neighborhoods. You can see any scheduled upcoming events by Clicking Here.
If you would like to ask any questions about Public Outreach and Education's (POE)offerings, please call (212) 863-8330 or e-mail: firstname.lastname@example.org
If you would like to receive e-mails from the New York City Department of Housing Preservation and Development with information for residential building owners, including details about upcoming Owners' Nights, visit the NYC HPD E-mail Update Subscription Center.