Pinnacle Group buys Queens rental building for $32M

Oregon Realty Company had owned the Rego Park property since 1972

New York /
Oct.October 24, 2017 02:20 PM

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.


Related Articles

arrow_forward_ios
Two more rent law challenges tossed, landlords reserve hope in appeal
Two more rent law challenges tossed, landlords rest hopes on appeal
Two more rent law challenges tossed, landlords rest hopes on appeal
Purchases across the country rose 0.7 percent in August, easily outpacing estimates by retail analysts. (iStock)
Big month for retail sales bodes well for landlords
Big month for retail sales bodes well for landlords
A rendering of River Ring with Two Trees CEO Jed Walentas (BIG, Getty)
CB1 approves Two Trees’ River Ring, keeping project on pace
CB1 approves Two Trees’ River Ring, keeping project on pace
250 Park Avenue and IWG CEO Mark Dixon (Google Maps, IWG)
IWG to open 58K sf co-working site on Park Ave
IWG to open 58K sf co-working site on Park Ave
Tritec Principal Robert Coughlan with the project (Tritec)
Tritec lands $173M for Bay Shore Residences
Tritec lands $173M for Bay Shore Residences
A recent report by Harvard’s Joint Center for Housing Studies shows mom-and-pop landlords were hit harder than big firms by rental delinquencies. (iStock)
Mom-and-pop landlords, Black tenants hit harder by pandemic: report
Mom-and-pop landlords, Black tenants hit harder by pandemic: report
Deconstruct Podcast
Now streaming: the debut episode of Deconstruct, TRD’s new podcast
Now streaming: the debut episode of Deconstruct, TRD’s new podcast
Jason Pomeranc and 305 West 48th Street (CIVILIAN, Google Maps, Kelleecaitlin/Wikimedia)
Jason Pomeranc to launch new Theater District hotel
Jason Pomeranc to launch new Theater District hotel
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...