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.
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
Once a month, HPD staff travel to a different borough to host Owners' Night: An Evening Dedicated to Helping New York City's Property Owners. Learn about the availability of low-interest loans, free educational courses and free owner counseling.
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.
