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.

A looming rent freeze under the forthcoming Mamdani administration could make physical conditions worse for rent-stabilized tenants, the analysis found, as well as make costs higher for market-rate tenants.

Tens of thousands of the city’s roughly 213,000 publ

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