NYC fights sale of bankrupt rentals after Mamdani blasts living conditions

Newly-inaugurated New York City Mayor Zohran Mamdani’s housing agenda is facing its first test as the city balks at the bankruptcy sale of thousands of rent-stabilized apartments owned by Pinnacle Group, where residents have railed against living conditions. 

City authorities on Monday asked a bankruptcy judge to delay a Chapter 11 auction scheduled for Thursday, saying they need more time to both evaluate a proposed $451 million deal to Summit Properties USA and “explore any potential...