The staggering estimate is a roughly 70 percent increase from the last calculation, in 2017, underscoring the New York City Housing Authority’s ballooning crisis.
After surveying residents at two developments in Manhattan, the agency is moving forward with a $1.5 billion plan to demolish and replace the buildings.
The New York City Housing Authority collected just 65 percent of the rent it charged in the 12 months leading up to December, the lowest percentage in the agency’s history.