Federal Judge Blocks NYC Bankruptcy Sale In Major Blow to Mamdani

deal could worsen housing instability for thousands of tenants living in subsidized apartments.

But Judge Jones rejected the city’s motion, saying the bankruptcy auction must move forward.

Pinnacle, owned by billionaire Joel Wiener, controls more than 140 buildings and 9,000 units across the five boroughs.

Court filings show Summit Real Estate Holdings continue reading …