Mamdani’s First Act as Mayor Is An Intervention in Pinnacle Group's Bankruptcy Case (Union of Pinnacle Tenants)

We have exciting news from our comrades at the Union of Pinnacle Tenants (UPT):

On Thursday, January 1, 2026, Mayor Zohran Mamdani held his first press conference after being sworn in to announce the creation of the Office to Protect Tenants (MOTP) in a Pinnacle Group (Pinnacle) building lobby. Mamdani  announced that his first act as Mayor will be to support the Union of Pinnacle Tenants (UPT) in their fight against Pinnacle’s decades of speculation and neglect, which has trapped tenants in uninhabitable living conditions. Cea Weaver was named the Executive Director of MOPT and said that intervening in the Pinnacle’s bankruptcy case is a prime example of how the office will take bold action to protect the city’s tenants..

After touring the building with tenants, Mayor Mamdani said of the situation, “We’re here today at 85 Clarkson Avenue. This building is owned by Pinnacle Realty, a notorious landlord whose name is all-too-familiar to far too many renters in New York City. Tenants… contend with heat, roaches, and a lack of heat This building, and 92 others owned by the same landlord, are in bankruptcy proceedings and are set to be auctioned off to a different landlord – one who ranks #6 on the worst landlord list in New York City. In just those buildings, there are over 5,000 open hazardous violations and 14,000 complaints. This is an untenable situation. So today we are announcing that we will intervene in the bankruptcy case, stepping in to represent the interests of the City and the interests of the tenants and say no more will this happen. I have directed my Corporation Counsel, Steve Banks, to take precedent-setting action to intervene in the bankruptcy case on behalf of the renters of this building, and of the thousands of other renters across New York in similar situations.”

This announcement comes after months of work by the Union of Pinnacle Tenants, now the largest portfolio-wide tenant union in the city, to collectively stand against Pinnacle’s history of neglect. UPT has organized over 40 building tenants associations, held rallies against disrepair and the bankruptcy, and won the support of 22 elected officials, including former Comptroller Brad Lander, Assemblymember Phara Souffrant Forrest, and Council Member Chi Osse, who signed on to a letter to the court endorsing the union’s efforts to delay the bankruptcy process, which sent 93 buildings and 5,000 rent-stabilized apartments up for auction.

Josie Wells, a Pinnacle tenant and long-time tenant organizer, said, “The grassroots organizing CHTU began 13 years ago has grown into something far larger than anyone could have imagined. That swelling sound became a symphony, and from it emerged the Union of Pinnacle Tenants. And in this orchestra I have found my voice. And I have learned that when you make noise or, as the great Civil Rights activist John Lewis says, when you get in good trouble, some will dismiss it as just that. But others will lean in and listen.

That is why the Union of Pinnacle Tenants is deeply honored that the very first act Mayor Mamdani has taken is to visit a Pinnacle building, stand in solidarity with our fight, and announce the creation of the Mayor’s Office to Protect Tenants.”

On Tuesday December 23, 2025 a stalking horse bidder was announced, Summit Gold Inc (Summit), which is number six on the city’s landlord watchlist with over 5,000 open Housing and Preservation Department (HPD) violations. A sale from Pinnacle to Summit would ensure the continued neglect and mistreatment  of the over 5,000 rent stabilized apartments and over 10,000 New Yorkers.

Newly appointed executive director of MOTP, Cea Weaver, said in her remarks, “Thank you to all the members of the Union of Pinnacle Tenants who are struggling for self-determination and safe living conditions in their buildings in the face of terrible uncertainty. Today I can say with so much certainty that the City of New York is on your side. New York is a majority tenant town – we are the bus drivers, the childcare workers, the grocery store staff, teachers and nurses who take care of our shared city. Every month on the first of the month – like today – when we pay our rent, we are the ones who ensure that the lights come on and our City moves forward.  Over the last 15 years, I have worked to build powerful tenant associations, neighborhood organizations, and statewide coalitions with one goal – ensuring that tenants have a collective voice in the day to day decisions that impact our lives.“

As Pinnacle seeks to offload 93 buildings to yet another predatory landlord, the Union is thrilled to have the Mamdani administration fighting by their side to finally address longstanding code violations, and to have a say over their homes and their futures.  UPT looks forward to partnering with Mamdani on a new era for the city, where tenants’ rights to dignified and safe homes come before landlords’ profits.