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A blog from CityRealty (Links below will take you to the 6sqft site)


HDFC Co-ops in Great NYC Neighborhoods HDFC Co-ops in Great NYC Neighborhoods
HDFC (Housing Development Fund Corporation) co-ops are a beacon of hope for low- and middle-income buyers. They're definitely not easy to find, but they're out there and worth a look. Don't assume you don't qualify: Qualifying income ranges are broad and can be a lot higher than you might assume – be sure to check the listings for income caps or contact the broker if none are shown. Check out the recent listings below and map for some fine examples. We'll update our map showing all the HDFC listings on a weekly basis.

What is an HDFC Co-op?

HDFC units were created several decades ago as a way for tenants in poorly managed buildings to take control of the property and form cooperatives. The city sold these apartments to residents for a mere $250 a piece. Obviously they no longer trade for that price, but they do often sell for far less than what a comparable market rate unit in the same neighborhood would.

Because HDFC units are co-ops, tenants are subject to rules and regulations set forth by a building's bylaws and board. However, unlike high-profile co-ops such as the Dakota or Osborne, HDFC Co-ops are mostly concerned about keeping maintenance costs down over making costly upgrades. As a result, buyers over time will have more cash in hand to make renovations and updates inside their own apartments, which many do require.

Read More About HDFC Co-ops

3 beds, 2 baths

The Grinnell, 800 Riverside Drive, #3A Listing Updated Jun 27, 2017; Corcoran
Starting off on the high end, this three-bedroom, two-bath home in The Grinnell co-op in the Audubon Park Historic District of Washington Heights offers a modern kitchen, a gracious layout and a unique master bedroom with a dressing room and a spa-like bath. Pre-war details include hardwood floors, deep baseboards and woodwork, decorative and picture mouldings, and high ceilings. You'll also find big closets, 19 windows, and a washer-dryer. The Grinnell was designed by architects Schwartz & Gross and features a Mediterranean-style facade with a porte-cochere entryway. Building amenities include a fitness room and a new roof deck.

Income Restrictions:

Contact the listing broker for details.

1 bed, 1 bath

243 Mulberry Street, #3L Listed Updated Jun 22, 2017; Brown Harris Stevens
This next listing resides in an intimate Nolita co-op building with just two apartments per floor. The unit is a spacious one-bedroom, one-bath with a bonus room that can be used as a home office or second bedroom. Pre-war features include exposed brick walls, two decorative fireplaces, and of course, beautiful hardwood flooring. The kitchen was recently renovated and has all the latest appliances - an LG fridge, electric stove, and whirlpool dishwasher. Best of all, there's a low maintenance fee of just $429!

Income Restrictions:

$167,000 - Individual

$191,000 - Family of 2

$214,000 - Family of 3

1 bed, 1.5 baths

237 Eldridge Street, #24 Listing Updated Jun 26, 2017; Keller Williams
This charming Lower East Side pre-war home is just a short walk from SoHo, the East Village, Little Italy, and Chinatown. It offers one bedroom and a large office in its current configuration, but you have the option of creating a two-bedroom unit. More perks include a wall of custom wood closets and a vented washer/dryer in the en-suite bath.

Income Restrictions:

$180,000 - Individual

$220,000 - Family of 2

2 beds, 1 bath

354 South 3rd Street, #2F Listing Updated Jun 27, 2017; Douglas Elliman
Thought you couldn't afford to live in Williamsburg? Think again. This priced-to-sell two-bedroom is located a on a tree-lined block and is cozy (small) but has some great natural light and plenty of storage in each bedroom. The eat-in kitchen also boasts ample storage with four closets. Residents will enjoy the hardwood floors, outdoor garden, bike storage and downstairs laundry. Plus, J, M, Z & G subway stops are all nearby.

Income Restrictions:

$110,220 - Individual

$126,060 - Family of 2

$141,735 - Family of 3

$157,410 - Family of 4

2 beds, 1 bath

311 East 3rd Street, #25 Listing Updated Jun 28, 2017; Town Sales and Marketing
This spacious two-bedroom home has been renovated and boasts lots of natural light in every room, including the kitchen and bathroom. The updated kitchen features stainless steel appliance and a washer/dryer and the queen-sized bedroom has great closet space. Situated in a well-maintained East Village building, residents will enjoy having a full-time super on the premises, bike storage, and building-wide video intercom system. Income restrictions are also relatively high.

Income Restrictions:

$104,775 - Individual

$119,625 - Family of 2

$134,640 - Family of 3

$149,490 - Family of 4

Studio, 1 bath

498 West 55th Street, #2S Listed Jun 26, 2017; Sotheby's International Realty
One of the best deals for a HDFC co-op comes from a pre-war building in the bustling neighborhood of Midtown West. For just $425,000 and a low monthly maintence of $409, you can buy this classic studio, one-bath residence that features exposed brick, hardwood floors, and a windowed kitchen with a dining area. Additionally, there is a private courtyard garden with barbecue grills and bike storage. A full-time super and storage units are available.

Income Restrictions:

Contact the listing broker for details.
You can check the map below for more current NYC HDFC Co-op Listings:
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Additional Info About the Building

Content Specialist Sandra Herrera Sandra Herrera is a writer, editor, and graphic designer based in Brooklyn, NY.
Luxury Homes in Midtown | Newly Renovated Studio-2BR Homes View Property
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