Federal Judge Halts NYC Mayor Zohran Mamdani’s Intervention in Property Sale
Serhant Real Estate’s Ravi Kantha says the luxury housing market is on a positive track on ‘Maria Bartiromo’s Wall Street.’
A federal judge recently blocked New York City Mayor Zohran Mamdani‘s attempt to intervene in the sale of thousands of rent-stabilized properties. This ruling came on Thursday, marking a significant setback for Mamdani’s administration.
The mayor’s office had sought to delay the sale of these properties due to tenant complaints about the current owner, Pinnacle Group. Tenants expressed concerns over the poor maintenance of their homes and feared that the prospective buyer, Summit Properties USA, would not address these issues adequately.
Mamdani’s administration argued that they had a legitimate interest in the matter, citing their status as a creditor to Pinnacle. The company reportedly owes the city over $12 million in unpaid fines, as reported by Gothamist.
However, Bankruptcy Judge David Jones dismissed Mamdani’s intervention, complicating the new mayor’s initial efforts in the housing market.
New York City Mayor Zohran Mamdani vowed to revamp housing in New York City. (REUTERS/Jeenah Moon / Reuters)
Judge Jones may approve the sale to Summit as early as this Thursday. Meanwhile, Mamdani’s administration is exploring other options. “We will continue to fight to ensure any owner of this portfolio makes necessary repairs to bring the buildings up to code and respects the rent stabilization regulations,” stated Leila Bozorg, the city’s deputy mayor for housing.
This court defeat follows another controversy that has impacted Mamdani’s housing agenda. His hiring of Cea Weaver to lead the Mayor’s Office to Protect Tenants has drawn scrutiny. Weaver has previously described home ownership as a “weapon of white supremacy” and advocated for property to be viewed as a “collective good.”
Mayor Mamdani’s administration says it is weighing its options on how to proceed in the Pinnacle Group sale. (Spencer Platt/Getty Images / Getty Images)
In light of the backlash over her previous statements, Weaver has expressed regret for “some” of her past comments. While she did not specify which remarks she regretted, she emphasized her commitment to addressing “racial inequalities” during her tenure.
“I want to make sure that everybody has a safe and affordable place to live — whether they rent or own,” she stated. “And that is something that I’m laser-focused on in this new role.”
Fox News’ Alec Schemmel contributed to this report.
Serhant Real Estate’s Ravi Kantha says the luxury housing market is on a positive track on ‘Maria Bartiromo’s Wall Street.’
A federal judge recently blocked New York City Mayor Zohran Mamdani‘s attempt to intervene in the sale of thousands of rent-stabilized properties. This ruling came on Thursday, marking a significant setback for Mamdani’s administration.
The mayor’s office had sought to delay the sale of these properties due to tenant complaints about the current owner, Pinnacle Group. Tenants expressed concerns over the poor maintenance of their homes and feared that the prospective buyer, Summit Properties USA, would not address these issues adequately.
Mamdani’s administration argued that they had a legitimate interest in the matter, citing their status as a creditor to Pinnacle. The company reportedly owes the city over $12 million in unpaid fines, as reported by Gothamist.
However, Bankruptcy Judge David Jones dismissed Mamdani’s intervention, complicating the new mayor’s initial efforts in the housing market.
New York City Mayor Zohran Mamdani vowed to revamp housing in New York City. (REUTERS/Jeenah Moon / Reuters)
Judge Jones may approve the sale to Summit as early as this Thursday. Meanwhile, Mamdani’s administration is exploring other options. “We will continue to fight to ensure any owner of this portfolio makes necessary repairs to bring the buildings up to code and respects the rent stabilization regulations,” stated Leila Bozorg, the city’s deputy mayor for housing.
This court defeat follows another controversy that has impacted Mamdani’s housing agenda. His hiring of Cea Weaver to lead the Mayor’s Office to Protect Tenants has drawn scrutiny. Weaver has previously described home ownership as a “weapon of white supremacy” and advocated for property to be viewed as a “collective good.”
Mayor Mamdani’s administration says it is weighing its options on how to proceed in the Pinnacle Group sale. (Spencer Platt/Getty Images / Getty Images)
In light of the backlash over her previous statements, Weaver has expressed regret for “some” of her past comments. While she did not specify which remarks she regretted, she emphasized her commitment to addressing “racial inequalities” during her tenure.
“I want to make sure that everybody has a safe and affordable place to live — whether they rent or own,” she stated. “And that is something that I’m laser-focused on in this new role.”
Fox News’ Alec Schemmel contributed to this report.
