Buy a co-op at a discount: All about HDFCs and how to snag one

WHAT IS AN HDFC CO-OP? There are plenty of Housing Development Fund Corporation (hence the shorthand, HDFCs) buildings across the city—including rentals—but co-ops are usually what garner interest. The original, best-known types were created several decades ago when the city allowed tenants in buildings with derelict landlords to form co-operatives, take over their buildings, and buy their apartments for $250 apiece, as the New York Times reported last summer (yes, that’s the correct number of zeroes.)

Source: Buy a co-op at a discount: All about HDFCs and how to snag one

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