Preservation Buyer RFQ

Release date: 04/05/2018
Initial list published: 08/31/2018
Revision date: 07/18/2025

HPD supports the acquisition and rehabilitation of unregulated and rent stabilized residential buildings, particularly buildings in physical or financial distress. In order to serve these properties best, HPD has created a list of qualified owners who have been vetted to support the acquisition and rehabilitation of properties in the five boroughs.

Additionally, HPD recognizes that there are unique challenges associated with managing distressed properties.  HPD is seeking to establish a list of owners who are specifically positioned to take on ownership of distressed assets, either via the HPD Neighborhood Pillars Program or other preservation programs. This webpage describes the two RFQs that HPD will utilize to review an organization’s capacity to acquire and renovate properties.

Preservation Buyer RFQ

HPD has established a  Qualified Preservation Buyers List that HPD designates as qualified to acquire privately-owned regulated, rent stabilized, and/or unregulated properties to ensure responsible ownership and long-term affordability. The objective of this RFQ is to create a resource so that HPD may refer prospective sellers of properties, community based organizations, and others as deemed appropriate to the Qualified List when seeking a Qualified Preservation Buyer who will purchase the property and extend any underlying affordability restrictions.

Nonprofit and certified Minority and Women Business Enterprises (M/WBEs) organizations that appear on the Qualified Preservation Buyers list may also be eligible to receive financial and technical assistance in acquiring properties through the Neighborhood Pillars program via the Neighborhood Pillars Down Payment Assistance Fund (DPAF), administered by Restored Homes Development, LLC. Nonprofits and M/WBEs wishing to utilize the equity assistance associated with Neighborhood Pillars and the technical assistance must apply to this RFQ. Only nonprofit and M/WBEs organizations appearing on the Qualified List will be considered for participation. For detailed DPAF program information and term sheet, please refer to HPD’s Neighborhood Pillars introduction page.

Selection Criteria for Preservation Buyer RFQ

Applicants may be nonprofit or for profit organizations and must have an interest in and demonstrated capacity to maintain the long-term physical and financial viability, regulatory compliance, and responsible ownership of affordable housing.

HPD will only consider Applicants that demonstrate the requisite experience and capacity required to acquire, rehabilitate, manage, and preserve the long-term affordability of occupied or vacant multifamily buildings.  

Pre-Submission Conference for Preservation Buyer RFQ

A Pre-Submission Conference was held on Friday, April 27th, 2018from 10:00am-11:30am at 100 Gold Street Room 8F-14, New York, NY 10038. Materials from that presentation are included below:

• Pre-Submission Conference Presentation
• Pre-Submission Conference Q&A

Submission Requirements for Preservation Buyer RFQ

The initial submission deadline was 05/31/2018.  HPD reserves the right to accept applications on a rolling basis. The Qualified Preservation Buyers List will be updated  include newly accepted applicants.

Submission Forms for Preservation Buyer RFQ

Download and complete all the forms listed below for your application. Please submit your completed application via email to PresBuyerRFQ@hpd.nyc.gov.

• Form 1: Applicant Description and Reference
• Form 2-1: Residential Development Experience
• Form 2-2: Residential Development Chart
• Form 3-1: Residential Management Experience
• Form 3-2: Residential Management Chart
• Form 4: Applicant Property Listing
• Form 5: Assets Statement
• Form 6: Applicant Letter
• Form 7: Applicant RFQ Checklist

 Stabilization Buyers RFQ Addendum

HPD recognizes that there are unique challenges in acquiring, stabilizing, and developing distressed properties. In order to identify organizations that are well-suited to take on this critical work, HPD is announcing the Stabilization Buyer Addendum Request for Qualification (RFQ) to establish a Qualified Stabilization Buyer List. The Qualified Stabilization Buyers List will be a subset of the existing Qualified Preservation Buyers List. Becoming a Qualified Stabilization Buyer means that an organization is specifically qualified to stabilize at-risk properties, by carrying out acquisition and repositioning of the aforementioned at-risk projects. 

Section Criteria for Stabilization Buyers RFQ Addendum

For existing Qualified Preservation Buyers: 

• Please complete the Stabilization Buyers survey by August 27, 2025. HPD will utilize the survey responses to assess whether the organization qualifies to acquire and develop at-risk projects. While future rounds of the Stabilization Buyer RFQ may be held, an applicant must complete the survey by August 27, 2025, to be considered for qualification in the 2025 round. 

Entities not currently qualified as Preservation Buyers:

• To be eligible as a Qualified Stabilization Buyer, an organization must also be considered eligible for the Qualified Preservation Buyers List. If an organization is not currently a Qualified Preservation Buyer, the entity must complete both the Preservation Buyer RFQ application and the Stabilization Buyers survey by August 27, 2025, to be considered for qualification in the 2025 round. If the organization is determined to be qualified as a Preservation Buyer, it will then separately be assessed for eligibility as a Qualified Stabilization Buyer.    

Inquiries

Inquiries should be directed to PresBuyerRFQ@hpd.nyc.gov.

• Preservation Buyer RFQ Q&A