Mamdani’s Push to Halt Sale of 5,000 Apartments to Big Landlord Fails
The New York Times • • nation
Key Points:
- A federal judge approved a $451 million sale of thousands of apartments from bankrupt landlord Pinnacle Group to a subsidiary of Summit Properties, despite objections from city and state officials.
- Both Pinnacle Group and Summit Properties have extensive open code violations, raising concerns about tenant living conditions.
- Tenants have reported serious issues under Pinnacle's management, including leaks, mold, inadequate heating, and pest infestations.
- Mayor Zohran Mamdani, who pledged tenant protections on his first day in office, personally witnessed poor conditions in a Pinnacle building shortly after his inauguration.
- The judge's ruling represents an early challenge to Mayor Mamdani's efforts to safeguard tenants in the city.
