A troubled portfolio of over 5,000 rent stabilized apartments will be sold to a new private landlord, a bankruptcy court judge ruled Friday afternoon after lawyers for the Mamdani administration, the New York Attorney General, and organized tenants had intervened to try and stop it. Residents of the 90-plus building portfolio owned by Pinnacle Group had been pushing a judge to delay Pinnacle's bankruptcy sale and give the city a chance to vet the buyer and put together a competing offer.
The Department of Housing Preservation and Development (HPD) responded to a record 161,773 unique heat and hot water problems in the 12 months that ended last June, according to the Mayor's Management Report released in mid-September. Heat and hot water violations were up 12 percent over the previous fiscal year, and 60 percent since 2016. Other housing code problems went up just 2 percent last fiscal year.