HPD’s Third Party Transfer (TPT) Program and Multifamily Preservation Loan Program (MPLP) designate qualified sponsors to purchase and rehabilitate distressed vacant and occupied multi-family properties in order to improve and preserve housing affordable to low- to moderate-income households.
All TPT properties are currently owned by Neighborhood Restore HDFC and MPLP properties are currently owned by the City of New York. All properties were subject to an in rem foreclosure.
HPD provides loans using City Capital and/or Federal HOME funds at 1% interest. HPD subsidy is in addition to construction and permanent financing sources provided by, but not limited to, private institutional lenders, New York City Housing Development Corporation (HDC), and Low Income Housing Tax Credits (LIHTC).
Multifamily Disposition and Finance Programs
100 Gold Street, Room 9V
New York, NY 10038