A Times feature on one couple's search for an HDFC co-op in Hamilton Heights and pretty much answer the question on how someone can buy one of these affordable apartments with income caps that appear to be prohibitive. With a price range of $300K, the buyers were able to purchase a large one-bedroom on upper Edgecombe Avenue in an all cash transaction because they sold off their old studio apartment in Grammercy Park which was purchased in the 80s. The former editor has been a freelance writer for several years now and thus meet the lower income requirement but had higher assets because of the sale of a former apartment downtown. Read more about the search process in the New York Times:
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