From Fox Business: A federal judge blocked New York City Mayor Zohran Mamdani’s effort to intervene in the sale of thousands of rent-stabilized rental properties on Thursday.
Mamdani’s administration had sought to slow the sale of the properties after tenants complained that the seller, Pinnacle Group, had poorly maintained the properties and were concerned that the prospective buyer, Summit Properties USA, would have similar issues.
Mamdani’s administration attempted to intervene on the basis of being a creditor to Pinnacle. The company owes the city over $12 million in unpaid fines, according to Gothamist.
Bankruptcy Judge David Jones rejected Mamdani’s effort, however, setting back the new mayor’s first foray into NYC’s housing market.
READ MORE from Fox Business.
The new mayor, a Democrat Socialist Muslim, started off his term with a housing scandal, after it was revealed that the woman he hired to lead the Mayor’s Office to Protect Tenants, Cea Weaver had declared in previous social media posts that she believed home ownership was “a weapon of white supremacy” and claimed that property should be owned by the “collective good” instead of individual ownership.
LOCKED OUT: Federal judge delivers Mamdani early legal setback on housing market intervention involving sale of thousands of rent-stabilized apartments to a real estate firm https://t.co/6sdDiEjFO7
— Fox News (@FoxNews) January 11, 2026
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