Federal Judge Blocks NYC Bankruptcy Sale In Major Blow to Mamdani

June 26, 2026 by fatmizo

bankruptcy auction must move forward.

Pinnacle, owned by billionaire Joel Wiener, controls more than 140 buildings and 9,000 units across the five boroughs.

Court filings show Summit Real Estate Holdings has offered $450 million to buy roughly 90 of the company’s properties.

“Completion of the bankruptcy auction process will bring financial stability continue reading …