NYC Real Estate Firm Faces Criticism Following Controversial Bankruptcy Acquisition

January 22, 2026 - 10:04

Public advocate Jumaane Williams has placed Summit Properties on his annual landlord watchlist, citing concerns over the management of their properties. The firm currently owns 14 buildings that have garnered negative attention for their treatment of tenants. This listing comes just days after Summit Properties successfully acquired more than 5,100 rent-stabilized apartments, a move that faced significant opposition from Mayor Zohran Mamdani and other city officials.

The controversial acquisition raised alarms among tenant advocates, who fear that the new ownership could lead to further neglect and deterioration of living conditions in these buildings. Critics argue that Summit Properties has a history of poor maintenance and tenant relations, which has contributed to their reputation as one of the worst landlords in New York City. As the firm moves forward with its plans, the spotlight remains on its practices and the potential impact on the lives of thousands of renters in the city.