March 29, 2016
The Third Party Transfer Program (TPT) is an initiative of the NYC Department of Housing and Preservation Development that was created in 1966 where the city forecloses on properties with unpaid taxes and eventually transfers ownership to a developer who must rehabilitate the building if necessary and manage it as affordable housing. Two Harlem buildings, 152 West 124th Street and 70 East 127th Street, were renovated under this program and are now offering 16 middle-income units through the city's housing lottery. They range from $1,040/month studios to $2,165 two-bedrooms for persons earning anywhere between $36,995 and $107,875 annually, depending on household size.
Find out if you qualify