For all the feds’ hype of a “huge and historic” breakthrough to fix the city’s public housing, the deal announced Thursday was, well … disappointing.

The agreement by the US attorney, Housing and Urban Development Secretary Ben Carson and the city calls for:

A federal monitor to oversee the New York City Housing Authority.

Ousting interim NYCHA boss Stanley Brezenoff (who’d been pushing hard for reform) and hiring a permanent new chairman.

Payments from City Hall totaling $2.2 billion over 10 years.

Privatizing the management of 62,000 NYCHA units and the sale of air rights to raise cash.

Tight new deadlines to fix problems like broken elevators, leaky pipes, rats and lead paint.

Almost the same deal, in other words, as the parties worked out last year for a consent decree nixed by federal Judge William Pauley. At the time, Pauley blasted the agreement largely for failing to ID enough money to make fixes quickly.

Now de Blasio & Co. claim they can come up with $24 billion over the next decade. That’s questionable. Even so, it’s still $15 billion shy of the $39 billion NYCHA says it needs for vital repairs now and through 2028.

The steps toward privatization are encouraging; if nothing else, they may lead to cheaper and more flexible labor arrangements. Yet the deal calls for no immediate overhaul of the collective bargaining process, as Pauley sought — and which is essential to running NYCHA on a sustainable budget. In theory, the monitor could recommend HUD invoke its powers to tear up agency contracts. But it’s status quo for now.

So success will depend on the city’s good faith and competence (yikes!) and the monitor’s competence and aggressiveness — once that job is filled.

Meanwhile, NYCHA residents continue to suffer: On Thursday, more than 10,000 faced heating outages as outside temps plunged to 4 degrees. Sadly, this latest deal offers them nothing except the chance to pray it works.