The city is launching a $7.5 million fund to help developers and nonprofit organizations buy rent-stabilized apartment buildings. Through the fund, the Department of Housing Preservation and Development will provide low-interest loans to certain nonprofits and developers to put a down payment on rent stabilized or unregulated apartment buildings. Wells Fargo and the Community Preservation Corporation each committed $2 million to the fund, alongside $3.5 million in city funds previously dedicated to purchasing distressed multifamily […]
source https://therealdeal.com/2018/12/20/wanna-buy-a-rent-stabilized-building-hpd-may-lend-a-helping-hand/
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