Pinnacle audit ordered by state

December 29, 2006 12:00AM

The state attorney general’s office ordered Pinnacle Group to hire an accounting firm to review their lease transactions over the past four years on rent-stabilized apartments. The audit will seek to determine whether Pinnacle overcharged tenants. Pinnacle, which has purchased an estimated $1 billion in Upper Manhattan and Bronx property over the past few years, has been widely criticized as a negligent landlord that has unfairly raised rents for many tenants. more [NYT]

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