Days after the Summit Properties won a bankruptcy auction for 5,200 mostly rent-stabilized apartments from Pinnacle Group, the city has filed a formal objection to the sale.  Lawyers for Mayor Zohran Mamdani’s office asked a judge to stop the transaction, raising questions about insider dealing and saying that Summit has failed to show the ability to fix up the properties. It’s the second time the Mamdani administration has objected to the bankruptcy proceedings.  The objection is a last-ditch attempt by the Mamdani administration to throw its might behind tenants at the Pinnacle properties. A confirmation hearing for the sale is […]

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