N.Y. Private Housing Finance Law § 90

§ 90. Purchase by housing companies. Before any housing company shall\npurchase the property of any other housing company, it shall file an\napplication with the commissioner in the manner hereinbefore provided as\nfor a new project and shall obtain the consent of the commissioner to\nthe purchase and agree to be bound by the provisions of this article and\nthe commissioner shall not give his consent unless it is shown to the\nsatisfaction of the commissioner that the project is one that can be\nsuccessfully operated according to the provisions of this article.\n