Pinnacle Group buys Queens rental building for $32M

Oregon Realty Company had owned the Rego Park property since 1972
By Eddie Small | October 24, 2017 02:20PM

Joel Weiner’s Pinnacle Group has added to its New York portfolio with the $31.5 million purchase of a 113-unit residential building in Queens.

The Rego Park building, located at 97-25 64th Avenue, is 98,000 square feet, and seller Oregon Realty Company had owned it since 1972.

Pinnacle did not respond to a request for comment about its plans for the building.

In April, Weiner’s firm raised $120 million in a bond issuance in Tel Aviv. That same month, Pinnacle bought two Flushing rentals from TreeTop Development for $58 million. Earlier this month, it bought a 23-unit building in Sunset Park for $13.3 million from Edward English.