The city’s affordable housing landlords are in need of a colossal $1 billion in spending from the next mayor to dodge default, according to an affordable housing nonprofit.
Razor-thin margins are often considered part and parcel of operating affordable housing units in New York City, but a growing number of these operators are failing to make ends meet.
A recent analysis by the New York Housing Conference, first reported by Bloomberg, reported worrying signs of distress among some of the city’s most affordable housing stock…