NYU Furman Center Feedback Sign Up Facebook Twitter LinkedIn
CoreData.nyc

Directory of NYC Housing Programs

Multifamily Disposition and Finance Programs

  • Agency:
  • Status: Currently Available

The Multifamily Disposition and Finance Programs encompasses the New York City Department of Housing Preservation and Development’s (HPD) Third Party Transfer Program (TPT) and Multifamily Preservation Loan Program (MPLP) and designates 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 the Neighborhood Restore Housing Development Fund Corporation (HDFC) and MPLP properties are currently owned by the City of New York. All properties are subject to an in rem foreclosure. HPD provides loans using City Capital and Federal HOME funds at one-percent interest. HPD may also provide a subsidy 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).

Program Information Help Icon

  • Alternative Name(s): Multi-family Preservation Loan Program, ThirdParty Transfer Program, MPLP, TPT
  • Supply/Demand: Supply
  • Category: Land and Financing
  • Scale: Small Scale (between 1 and 999 units)
  • Timeframe: 1996 - Present
  • Occupancy tenure: Rental, Homeownership
  • Construction Type: Rehabilitation
  • Building Type: Multi-family
  • Developers/Owners: Non-profit, For-profit
  • Income Restrictions: Units must be affordable to households with an annual income of up to 120 percent of Area Median Income (AMI).

View all programs

Search

Filter By

Tags