Bronx Local News: NYC's Housing Crisis Could Turn into 1970s Style Housing Apocalypse
Losing Money Every Month: Growing Finance Crisis Threatens Affordable Housing Landlords who run subsidized buildings say the numbers increasingly don’t add up — and that a rent freeze will put their tenants in a more precarious position. This article originally appeared in The City. By Greg David Bronx Voice November 20, 2025 BRONX LOCAL NEWS - BronxProGroup manages 93 subsidized apartment buildings containing more than 3,300 affordable apartments, mostly in The Bronx. One in three units are in buildings where this year expenses are greater than the rents collected. And one in five are in buildings in such poor financial shape that the owners will have to resort to renegotiate their loans to lower their risk of defaulting. CEO Samantha Magistro , who joined the family-owned firm about 25 years ago, says half of the units are in buildings that no longer can make any payments to their owners. The business of running this kind of housing, increa...