Game Over: Judge Nukes NYC Mayor Zohran Mamdani’s Agenda in Brutal Ruling

U.S. Bankruptcy Judge David Jones declined the city’s request to intervene, allowing the bankruptcy sale process to move forward.

Pinnacle, owned by billionaire Joel Wiener, controls roughly 140 buildings and about 9,000 apartments across New York City, according to court filings. Following the bankruptcy filing, Summit Real Estate Holdings submitted a $450 million bid to purchase dozens of Pinnacle properties located in Brooklyn, Manhattan, the Bronx and Queens. The proposed sale requires court approval before it can be finalized.

“Completion of the bankruptcy auction process will bring financial stability along with the opportunity to stabilize services, outcomes which we would expect the City would not want to disrupt,” Pinnacle lawyer Ken Fisher noted in a recent statement about the coming sale, according to the outlet.

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