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Mamdani notches a loss in opening gambit to take on NYC landlords 

Jan 12, 2026By

New York City Mayor Zohran Mamdani suffered defeat in his first skirmish with multifamily property owners as part of a strategic war to remake the city’s rent-stabilized housing.​ On Friday, Summit Properties USA became the winning bidder for more than 5,000 rent-regulated units owned by bankrupt Pinnacle Development Group. The sale went through despite Mamdani’s […]

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