And 'No': Federal Judge Delivers Mamdani Early Legal Setback on Housing Market Intervention

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.