Multifamily Requests for Subordination and Consents

Multifamily Requests for Subordination & Consents

Property owners are expected to understand and fulfill the requirements for Property Registration and maintenance, to Clear Violations and Orders (including any DOB or ECB violations or orders), and to understand what Penalties and Fees might apply should an owner fail to meet the requirements of the Housing Maintenance Code and Multiple Dwelling Law. Visit Property Management for more information.

When processing your transaction request, HPD will confirm whether:

  • Property Registration is current;
  • DHCR Registration is current (if applicable);
  • Municipal violations and orders are cleared;
  • Municipal balances are current (taxes, water, sewer) and arrears are paid off; and,
  • There are any issues regarding the property owner's compliance with a regulatory agreement or other agreement between the property owner and HPD.

Property owners are encouraged to review and address these items prior to submitting a servicing request or provide an explanation for outstanding items. Failure to address these issues may lead to a delay in processing.

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Request for Consent to a Sale or Transfer of Property with HPD Restrictions

HPD will consider requests for HPD consent to the sale or transfer of property or an interest therein that is subject to an HPD restriction. HPD’s consent may be required by one or more of your contracts with HPD, your corporate documents, or the law. Please note that the following guidance and forms are intended for properties that are not currently in HPD’s Development Pipeline.

Please review and complete the Consent to the Sale or Transfer of Property Request Form and submit your request via email to AMtransactions@hpd.nyc.gov or by mail to:

NYC Department of Housing Preservation and Development
100 Gold Street
New York, NY 10038
Attention: Division of Asset Management, Room 7-S Transactions

Please note the following:

  • HPD’s review of the request may result in HPD placing conditions on the sale or transfer or denying consent to the transaction as proposed.
  • Requests will not be processed until all required items listed above are received.
  • HPD may require additional documentation after review of the items requested in this request form.
  • Please allow up to 90 days for processing from the date we receive all required documentation. Processing time may be longer during peak closing season months (November-December, May-July). Owners are encouraged to make requests early in order to account for potential delays.
  • Requests that will require public approvals (e.g., City Council or Mayoral approvals) will take longer.

Mortgage Payoffs / Satisfactions / Releases

If you wish to obtain a Payoff Letter that outlines your financial obligation to satisfy your HPD mortgage or are seeking a Satisfaction of your HPD mortgage, please complete the Mortgage Payoff / Satisfaction /Release Request Form and submit your request via email to mtgsatisfact@hpd.nyc.gov or by mail to:

NYC Department of Housing Preservation and Development
100 Gold Street
New York, NY 10038
Attention: Office of Asset Management, Room 7-S Transactions

Please note the following:

  • Requests will not be processed until all required items are received.
  • HPD may require additional documentation after review of the items requested in this request form.
  • Please allow up to 20 days for processing from the date we receive all required documentation. Processing time may be longer during peak closing season months (November-December, May-July). Owners are encouraged to make requests early in order to account for potential delays.

Subordination / SNDA Requests

HPD will consider requests for subordination of loans, security agreements, regulatory and land disposition agreements after a thorough review. HPD will not be responsible for any additional fees or expenses due to the processing of the subordination request.

Please complete the Subordination / SNDA Request Form, along with required items and submit your request via email to AMtransactions@hpd.nyc.gov or by mail to:

NYC Department of Housing Preservation and Development
100 Gold Street
New York, NY 10038
Attention: Office of Asset Management, Room 7-S Transactions

Please note the following:

  • Requests will not be processed until all required items are received.
  • HPD may require additional documentation after review of the items requested in this request form.
  • Please allow up to 30 days for processing from the date we receive all required documentation. Processing time may be longer during peak closing season months (November-December, May-July). Owners are encouraged to make requests early in order to account for potential delays.