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In a city where the median price of a one-bedroom home is $1.12 million (per CityRealty data), HDFC (Housing Development Fund Corporation) co-ops have emerged as an oasis of hope for low- and middle-income buyers. They're not necessarily easy to find, but definitely worth adding to a search as they represent the chance to live in a neighborhood previously thought to be out of one's price range. Qualifying income ranges can be broader and higher than one would think - double-check the listing for income caps and contact the broker if none is shown. The following listings are some of this week's most outstanding examples. Don't forget to check out our map at the bottom with all current HDFC listings.

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.

Read More About HDFC Co-ops

In this article:

237 Eldridge Street
237 Eldridge Street Lower East Side
307 West 107th Street
307 West 107th Street Riverside Dr./West End Ave.
172 Delancey Street
172 Delancey Street Lower East Side
208 Forsyth Street
208 Forsyth Street Lower East Side
The Parkside, 72 Morningside Avenue
The Parkside, 72 Morningside Avenue Harlem

One Bedroom | One Bath | 550 ft2

Lower East Side One-Bedroom Co-op Average: $609,000
172-Delancey-Street-1 All images of 172 Delancey Street via Douglas Elliman
172-Delancey-Street-2 Kitchen
172-Delancey-Street-3 Bedroom
This bright, quiet, recently renovated apartment in the heart of the Lower East Side has a flexible layout that allows it to be used as a live/work space if a buyer so desires. Features include six windows, a large transom, French doors, exposed brick, wide plank hardwood floors, abundant storage space, and a comfortable Murphy bed. The windowed kitchen boasts granite countertops and stainless steel appliances, and the windowed bath was recently upgraded. Pets are welcome, and the building is a short walk from the Delancey Street subway, Lower East Side dining and nightlife, and mega-development Essex Crossing.

Income Restrictions:

$66,012 - Single individual

$72,024 - Two buyers combined

Two Bedrooms | One Bath

Harlem Two-Bedroom Co-op Average: $450,000
72-Morningside-Avenue-1 All images of The Parkside via Douglas Elliman
72-Morningside-Avenue-2 Kitchen
72-Morningside-Avenue-3 Bedroom
Situated on the second floor of a prewar walkup, this unit is filled with light from northern, southern, and eastern exposures. The updated kitchen is equipped with a stylish washer/dryer for ultimate convenience. Additional amenities include a video intercom system, pre-wiring for cable and phone outlets, and a basement bike room. The building is a short walk from Columbia University, Morningside Park, the Apollo Theater, and the many dining and transportation options on 125th Street.

Income Restrictions:

$120,615 - Single individual

Contact agent for additional numbers

One Bedroom | One Bath | 785 ft2

Lower East Side One-Bedroom Co-op Average: $609,000
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208-Forsyth-Street-1 All images of 208 Forsyth Street via Compass
208-Forsyth-Street-2 Kitchen
208-Forsyth-Street-3 Bedroom
Looking for peace and quiet on the bustling Lower East Side? Look no further than this east-facing duplex on the top two floors of a prewar co-op. The upper level houses a loft-like living level with exposed brick, oversized windows, and seamless flow to an eat-in kitchen. Downstairs, a rambling master suite features exposed beams, whitewashed brick, bath with washer/dryer, and a bonus room that can be used as a study, sitting room, dressing room, or anything else the buyer can imagine. Whole Foods, transportation, and the Lower East Side's hottest dining and nightlife are on surrounding blocks.

Income Restrictions:

$120,615 - Single individual

$137,775 - Two people

$154,945 - Three people

One Bedroom | One Bath | 550 ft2

Riverside Drive/West End Avenue One-Bedroom Co-op Average: $725,000
307-West-107th-Street-1 All images of 307 West 107th Street via Compass
307-West-107th-Street-2 Living room
307-West-107th-Street-3 Bedroom
This Upper West Side penthouse has just been fully renovated with impeccable taste and style, and its location in a prewar Beaux Arts building offers buyers the best of both worlds. In the living/dining room, large glass doors open to a Juliet balcony with open southern and partial river views. The open kitchen has been updated with new stainless steel appliances and granite countertops. Additional enhancements include refinished hardwood flooring, new closet doors, new light fixtures, and a fresh paint job throughout. It is conveniently located near Riverside Park, public transportation, and many popular Upper West Side restaurants.

Income Restrictions:

$120,615 - Single individual

$137,775 - Two people

One Bedroom | One Bath

Lower East Side One-Bedroom Co-op Average: $609,000
237-Eldridge-Street-1 All images of 237 Eldridge Street via Brown Harris Stevens
237-Eldridge-Street-2 Kitchen
237-Eldridge-Street-3 Bedroom
Situated on the cusp of the Lower East Side and the East Village, this prewar co-op features exposed brick, recessed lighting, in-unit washer/dryer, and bright western exposures throughout. The open, L-shaped kitchen has natural wood cabinets, and the spacious queen-sized bedroom is fitted with a custom closet that provides impressive storage space. The building is one block from the Second Avenue E/F subway stop, and it is a short walk to restaurants and nightlife catering to all cravings.

Income Restrictions:

$180,000 - Single individual

$220,000 - Two people

Would you like to tour any of these properties?
Just complete the info below.
  1. Select which properties are of interest to you:

Or call us at (212) 755-5544
Would you like to tour any of these properties?
Content Specialist Michelle Mazzarella Michelle is a contributing writer and editor for real estate news in New York City