On Day One, NYC Mayor Zohran Mamdani Targets Landlords and Moves to Intervene in Major Bankruptcy

Sworn in at midnight — and again at a public ceremony hours later — New York City Mayor Zohran Mamdani used his first day in office to announce an aggressive housing agenda aimed at landlords, tenant protections and speeding housing development. He said the administration will seek what he called "precedent-setting action" to intervene in a private landlord bankruptcy tied to a portfolio of 93 buildings.

New York City Mayor Zohran Mamdani delivers his inaugural address Thursday outside City Hall.

What the Mayor Announced

Speaking outside a rent-stabilized building at 85 Clarkson Ave. in Brooklyn, Mamdani framed the moves as an early test of whether city government will directly confront owners over poor housing conditions and step into court cases that could determine whether tenants remain in their homes.

Zohran Mamdani attends the annual 9/11 Commemoration Ceremony Sept. 11, 2025, in New York City.

"Today is the start of a new era for New York City," Mamdani said. "It is inauguration day. It is also the day that the rent is due."

Three Executive Orders on Housing

• Revival of the Mayor’s Office to Protect Tenants: The office will focus on resolving tenant complaints, enforcing 311 violations and holding landlords accountable for hazardous conditions.
• LIFT Task Force: A Land-Inventory For Tomorrow effort to identify city-owned parcels suitable for housing; Mamdani set a July 1 deadline for naming candidate sites.
• SPEED Task Force: Streamlining Procedures to Expedite Equitable Development, intended to remove permitting bottlenecks and accelerate housing construction.

Both task forces will be overseen by Deputy Mayor for Housing and Planning Lila Joseph, the mayor said. Mamdani also signed an executive order revoking prior mayoral executive orders issued by former Mayor Eric Adams on or after Sept. 26, 2024, unless they are specifically reissued by the new administration. He signed a second order to set the structure of his administration and name five deputy mayors.

New York City Mayor-elect Zohran Mamdani raises his right hand during his swearing-in ceremony at Old City Hall Station early Thursday.

Bankruptcy Intervention

Mamdani identified the building and its portfolio as part of a Pinnacle Realty group that he described as "notorious," saying the collection of 93 properties is in bankruptcy and is expected to be auctioned to another owner the mayor said ranks No. 6 on the city’s worst-landlord list. He said the portfolio carries more than 5,000 open hazardous violations and roughly 14,000 complaints.

"This is an untenable situation," Mamdani said. "So, today we are announcing that we will be taking action in the bankruptcy case and stepping in to represent the interests of the city and the interests of the tenants." He said he directed his nominee for corporation counsel, Steve Banks, to pursue the intervention, noting the city is a creditor and has an interest in protecting tenants and preventing displacement.

Voices From Tenants

A tenant speaker at the event described long-standing unsafe conditions in Pinnacle properties, including a section of hardwood floor left unrepaired for seven years. The speaker accused the landlord of worsening affordability and habitability issues when it filed for bankruptcy this spring.

Mamdani characterized the actions as the beginning of a more assertive use of executive power on housing issues. His office did not immediately respond to requests for comment from news outlets.