Inside Mamdani's Last-Ditch Effort to Stop the Fire Sale of Hundreds of Rent-Stabilized Apartments

The very first week of the Mamdani administration, it seemed as if the tenants at dozens of rent-stabilized buildings owned by the Pinnacle Group had lodged a major win. On his first day in office, Mayor Zohran Mamdani held a press conference at a Pinnacle building and announced that the City would intervene in the ongoing bankruptcy auction of about 5,200 rent-stabilized apartments owned by Pinnacle, as tenants had begged the Adams administration to do.