Pinnacle Group | The Real Deal New York

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Pinnacle Group

1 Penn Plaza, Suite 4000
New York, NY 10001
Website
info@pinnaclemanagementcompany.com

Pinnacle Group is a real estate management firm run by Joel Saul Wiener. For years it was one of the largest owners of properties in Brooklyn and the Bronx, bolstered by deals with Praedium Group and a buying spree, spending hundreds of millions between 2004 and 2006. Pinnacle has remained one of the city’s most active condo developers, with a continued focus on rent-stabilized housing. The firm has had its share of legal troubles. In 2006 it was the subject of a criminal investigation by the Manhattan district attorney over allegations that it violated rent-stabilization laws, allegations which also drew scrutiny from local politicians and tenant advocacy groups. The firm also has been accused of jacking rents and posting fake eviction notices in some of its buildings. Trouble has died down but not gone away completely for Pinnacle. In 2011 Pinnacle settled a class-action lawsuit by Bronx tenants who claimed they were overcharged. Pinnacle also has been sued by other real estate companies, as in 2013, when Meadow Partners alleged Pinnacle had hampered the sale of a portfolio of nine Upper Manhattan buildings in order to buy them back at a discount.


03/14/17
...-20 Franklin Avenue (Credit: Google Maps) Joel Wiener's Pinnacle Group is looking to convert a 144-unit rent-stabilized building in Flushing to condominiums, an offering...

11/14/16
...Crown Street Joel Wiener’s Pinnacle Group plans to convert a six-story Crown Heights rental building just east of Prospect Park...

11/07/16
...Eastern Parkway in Crown Heights Joel Wiener’s Pinnacle Group raised close to $80 million, or 300 million shekels, in its latest bond offering on the...

11/01/16
...-04 Cherry Avenue Joel Wiener’s Pinnacle Group is in contract to buy a six-story rent-stabilized apartment building in Flushing for $26 million...

11/01/16
...after a drought over the summer. Joel Wiener's Pinnacle Group, which trades under the name the Zarasai Group in Israel, is seeking to raise...

07/26/16
...have tapped into the Israeli bond market include Pinnacle Group, KBS, Yoel Goldman’s All Year Managament and Michael Shah's Delshah Capital. -- Konrad...

Mid Market Sales
07/11/16
...Vinsue Corp. is the seller. 2.) Joel Wiener’s Pinnacle Group picked up a row of mixed-use buildings at 1456-1462 Coney Island Avenue in Brooklyn...

05/11/16
...is on his fifth raise, while Joel Wiener's Pinnacle Group, Yoel Goldman’s All-Year Management and Joel Gluck's Spencer Equity Group have raised multiple...

Ariel Property Advisors
04/25/16
...multifamily at 41-17 Crescent Street for $97 million and Pinnacle Group paid $43 million for a 145-unit rental at 142-20 Franklin Avenue. More than a third...

03/17/16
...raising affordable corporate debt, with Joel Wiener’s Pinnacle Group raising $65 million in the first phase of its latest Israel bond deal Thursday. Pinnacle...

03/07/16
...company in Israel, with only Joel Wiener’s Pinnacle Group raising debt at a lower cost. KBS, whose assets include a 32-story, 928,000-square-foot office...

03/04/16
...Eastern Parkway in Crown Heights Joel Wiener’s Pinnacle Group saw its plans for the condominium conversion of a Crown Heights rental building approved...

02/04/16
...top: Larry Horn and William Kohane) Joel Wiener's Pinnacle Group bought another rent-regulated property in the outer boroughs, picking up a 145-unit East Flushing...

top-10-condos-offering-price
02/02/16
...expensive East Village condo offering ever? Or that Pinnacle Group...

09/24/15
...Capital Group Magnum Real Estate Group Related Companies Pinnacle Group In the 1990s, Gary Barnett, Ziel Feldman and Kevin Maloney were principals at Property...

06/30/15
...Ben Abraham of Premier Equities 1.) Joel Wiener’s Pinnacle Group purchased a Vinegar Hill rental building at 109 Gold Street for $20 million. The 33-unit building...

06/16/15
...s the Chetrit Group, Joel Wiener’s the Pinnacle Group and Jared Kushner’s Kushner Cos. These same players back Herzka in his personal...

05/26/15
...at Gateway in East New York Joel Wiener's Pinnacle Group picked up 318 rental units in a 19-building East New York residential complex for $53 million...

05/14/15
...led by Freddy Sayegh, paid $22 million to the Pinnacle Group and Praedium Group for the property in 2013. Over the eight years that Pinnacle and...

05/06/15
...aerial view (inset: Amit Doshi) Joel Wiener's the Pinnacle Group and the Plymouth Group have plans to develop a block-through Bronx site they bought...

01/27/15
...Heights UPDATED 2:10 p.m., January 27: Joel Wiener's the Pinnacle Group bought out its partner, Praedium Group, in an eight-building Manhattan and Brooklyn rental portfolio...

07/16/14
...Burke Leighton Asset Management, paid Praedium Group and Pinnacle Group $22 million for a 200-unit rental building at nearby 805 St. Mark’s Avenue, as TRD...

05/05/14
...two walkups with a total of 261 units from Pinnacle Group and Hudson Realty Capital in a deal that closed on April 29, the person familiar...

03/11/14
...Clarkson Avenue Real estate owner and manager the Pinnacle Group, headed by Joel Wiener, has bought its equity partner Hudson Realty Capital out of...

10/03/13
...court has upheld a settlement between notorious landlord Pinnacle Group and more than 20,000 rent-regulated tenants, clearing the way for these tenants to seek individual...
Pinnacle Group, Owner
1 Penn Plaza, Suite 4000, New York, NY
Pinnacle Group is a real estate management firm run by Joel Saul Wiener....
  • Event Residential Sales
  • Building Name 775 Riverside Drive
  • Address Unit 1F, 775 Riverside Drive
  • Unit 1F
  • Neighborhood Washington Heights
  • Borough Manhattan
  • Square feet 636
  • Price $ 354,900
  • Price per foot $ 558.02
  • Publication Date 02/29/2016
  • Event Date 02/09/2016
  • Party 1 Pinnacle Group
  • Party 1 Entity 775 Realty Co. LLC
  • Event Residential Sales
  • Building Name 750 Riverside Drive
  • Address Unit 1E, 750 Riverside Drive
  • Unit 1E
  • Neighborhood Hamilton Heights
  • Borough Manhattan
  • Square feet 748
  • Price $ 396,474
  • Price per foot $ 530.05
  • Publication Date 02/22/2016
  • Event Date 01/26/2016
  • Party 1 Pinnacle Group
  • Party 1 Entity 750 Realty Co. LLC
  • Party 2 Zhu, Lei
  • Event Sales
  • Address 142-20 Franklin Avenue
  • Neighborhood Flushing
  • Borough Queens
  • Square feet 134,000
  • Price $ 43,000,000
  • Price per foot $ 320.90
  • Publication Date 03/01/2016
  • Event Date 01/01/2016
  • Party 1 Apple Core Holdings
  • Party 2 Pinnacle Group
notes
The 6-story building sold for $43 million.
  • Event Sales
  • Address 323-335 West 96th Street
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Square feet 133,700
  • Price $ 27,000,000
  • Price per foot $ 201.94
notes
The building sold for $27 million.
  • Event Residential Sales
  • Building Name 775 Riverside Drive
  • Address Unit 1C, 775 Riverside Drive
  • Unit 1C
  • Neighborhood Washington Heights
  • Borough Manhattan
  • Square feet 907
  • Price $ 505,986
  • Price per foot $ 557.87
  • Publication Date 01/08/2016
  • Event Date 12/21/2015
  • Party 1 Pinnacle Group
  • Party 1 Entity 775 Realty Co. LLC
  • Party 2 Liu, Katharine; Liu, Lily
  • Event Residential Sales
  • Building Name 750 Riverside Drive
  • Address Unit 1B, 750 Riverside Drive
  • Unit 1B
  • Neighborhood Hamilton Heights
  • Borough Manhattan
  • Square feet 509
  • Price $ 300,144
  • Price per foot $ 589.67
  • Publication Date 12/18/2015
  • Event Date 12/11/2015
  • Party 1 Pinnacle Group
  • Party 1 Entity 750 Realty Co. LLC
  • Party 2 Chiu, Wai; So, Siu
  • Event Sales
  • Address 12205 Flatlands Avenue
  • Neighborhood East New York
  • Borough Brooklyn
  • Square feet 318
  • Price $ 53,000,000
  • Price per foot $ 166,666.67
  • Event Sales
  • Address 143 Linden Street 2513 Newark Avenue 416, 422 East 17th Street 1617 President Street 233 East 77th Street 237 West 18th Street 349 East 51st St
  • Neighborhood Midtown
  • Borough Brooklyn
  • Price $ 32,000,000
  • Event Sales
  • Address 926 Amsterdam Avenue
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Price $ 53,000,000
notes
The package of multifamily buildings sold for about $53 million. The properties are located at 926 Amsterdam Avenue, 929 Amsterdam Avenue, 931 Amsterdam Avenue, 932 Amsterdam Avenue, 934 Amsterdam Avenue, 964 Amsterdam Avenue, 965-7 Amsterdam Avenue, 969 Amsterdam Avenue, 971 Amsterdam Avenue, 924 Columbus Avenue, 926 Columbus Avenue, 928 Columbus Avenue, 943 Columbus Avenue, 953 Columbus Avenue, 961 Columbus Avenue, 973 Columbus Avenue and 342 Manhattan Avenue. In addition to the apartments, the properties together have 27 commercial units.
  • Event Sales
  • Address Manhattan portfolio
  • Neighborhood SoHo
  • Borough Manhattan
  • Price $ 53,000,000
  • Event Sales
  • Address East Harlem portfolio
  • Borough Manhattan
  • Price $ 26,900,000
notes
The affordable housing portfolio sold for $26.9 million. Known as Met Paca I and Met Paca II, the buildings operate under a Section 8 rent subsidy contract with the U.S. Department of Housing and Urban Development. The new owner plans to continue to maintain the portfolio as affordable housing.
  • Event Sales
  • Address 323 West 96th Street
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Square feet 171,988
  • Price $ 74,000,000
  • Price per foot $ 430.26
notes
The 15-story luxury rental building and the property's 99-year ground lease sold for $74 million. Boymelgreen completed the project in 2003, having spent a total of $34 million on development.
Manhattan, 10032
775 REALTY CO. LLC & 156-08 REALTY CO, LLC
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Manhattan, 10032
Pinnacle Group, 835 RIVERSIDE REALTY CO., LLC
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Manhattan, 10031
Pinnacle Group, 680 RIVERSIDE REALTY CO. LLC
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Manhattan, 10031
Pinnacle Group, 660 REALTY CO. LLC
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Brooklyn, 11213
Pinnacle Group, 601 CROWN LLC
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Manhattan, 10031
Pinnacle Group, 750 REALTY CO., LLC
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Brooklyn, 11225
991 CARROLL ST LLC
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Brooklyn, 11225
Pinnacle Ny, 961 WASHINGTON
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Bronx, 10473
UNDERHILL REALTY .
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Brooklyn, 11223
TREGER MANAGEMENT COM
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Brooklyn, 11230
607 RUGBY LLC
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Manhattan, 10019
WEST 50TH STREET REAL
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Manhattan, 10019
WEST 50TH STREET REAL
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Manhattan, 10019
WEST 50TH STREET REAL
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Brooklyn, 11226
470 REALTY NY LLC
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Brooklyn, 11226
17 REALTY LLC
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Bronx, 10463
KINGSBRIDGE REALTY AS
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Bronx, 10463
KINGSBRIDGE REALTY AS
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Brooklyn, 11205
CLINTON PROPERTY CO L
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Bronx, 10467
OLINVILLE REALTY .
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Brooklyn, 11226
18 STREET REALTY CO.,
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Bronx, 10458
2340 VALENTINE AVE RE
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Bronx, 10467
OLINVILLE REALTY .
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Brooklyn, 11225
225 PARKSIDE LLC
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Brooklyn, 11226
222 LENOX RD LLC
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Bronx, 10453
2155 MORRIS, LLC
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Bronx, 10453
2155 MORRIS, LLC
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Manhattan, 10033
185-189 AUDUBON REALT
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Brooklyn, 11226
1820 REALTY LLC
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Brooklyn, 11226
176 CLARKSON AVE LLC
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Brooklyn, 11226
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Brooklyn, 11201
Praedium Group | North End Equities, GOLD & YORK DEVELOPMENT LLC
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Queens, 11432
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Queens, 11421
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Queens, 11373
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Queens, 11373
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Queens, 11104
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Queens, 11373
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Queens, 11373
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Queens, 11354
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Brooklyn, 11225
Pinnacle Ny, 961 WASHINGTON
Filing For A 2-Story Vertical Extension To An Existing 4-Story Residential Building....
Manhattan, 10031
Pinnacle Group, 690 REALTY CO. LLC
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Manhattan, 10031
Pinnacle Group, 700 REALTY CO., LLC
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Manhattan, 10025
Pinnacle Group, THE 63,65 & 67 W.107T
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Manhattan, 10001
KORPENN
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Manhattan, 10034
207 REALTY LLC
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Manhattan, 10031
402-412 WEST 148 STRE
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Manhattan, 10031
402-412 W. 148LLC
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Manhattan, 10031
Pinnacle Group, THE 668 RIVERSIDE CON
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Manhattan, 10032
Pinnacle Group, THE 801 RIVERSIDE CON
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Manhattan, 10034
34 SEAMAN ASSOCIATES
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Manhattan, 10032
Pinnacle Group, THE 812 RIVERSIDE CON
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Manhattan, 10032
Pinnacle Group, THE 807 RIVERSIDE CON
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Manhattan, 10034
25 CUMMINGS REALTY L
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Manhattan, 10032
509 REALTY CO. LLC
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Manhattan, 10031
Pinnacle Group, RIVERSIDE APARTMENTS LLC & GOLDPORT REALTY LLC
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Manhattan, 10032
775 REALTY CO. LLC & 156-08 REALTY CO, LLC
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Manhattan, 10031
Pinnacle Group, 725 REALTY CO. LLC
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Manhattan, 10031
RIVERSIDE DRIVE 635 R
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Manhattan, 10031
3657 REALTY CO.
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Manhattan, 10031
3647 REALTY CO.
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Manhattan, 10025
IGEL , ANTHONY
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Brooklyn, 11225
Praedium Group, 382 EASTERN LLC
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Manhattan, 10033
69 BENNETT REALTY CO., LLC
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Manhattan, 10032
775 REALTY CO. LLC
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Manhattan, 10032
750 REALTY CO., LLC
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Manhattan, 10001
Pinnacle Group, WEST 30TH REALTY LLC
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Manhattan, 10033
105-115 BENNETT REALTY CO., LLC
...

top-10-condos-offering-price
02/02/16
...expensive East Village condo offering ever? Or that Pinnacle Group...

...to Area Property Partners), and Joel Wiener’s Pinnacle Group, backed by Praedium Capital and private equity firm Normandy Real Estate Partners. Allegedly aggressive...

...properties in Upper Manhattan, including two from the Pinnacle Group, since the start of 2009. The company, according to Real Capital Analytics, has spent $270 million...
Manhattan, 10032
775 REALTY CO. LLC & 156-08 REALTY CO, LLC
...
Manhattan, 10031
Pinnacle Group, 660 REALTY CO. LLC
...
Manhattan, 10031
Pinnacle Group, 680 RIVERSIDE REALTY CO. LLC
...
Manhattan, 10032
Pinnacle Group, 835 RIVERSIDE REALTY CO., LLC
...
Manhattan, 10031
Pinnacle Group, 750 REALTY CO., LLC
...
Brooklyn, 11213
Pinnacle Group, 601 CROWN LLC
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Brooklyn, 11225
Pinnacle Ny, 961 WASHINGTON
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Brooklyn, 11201
Praedium Group | North End Equities, GOLD & YORK DEVELOPMENT LLC
...
Brooklyn, 11225
Pinnacle Ny, 961 WASHINGTON
Filing For A 2-Story Vertical Extension To An Existing 4-Story Residential Building....
Manhattan, 10031
Pinnacle Group, 690 REALTY CO. LLC
...
Manhattan, 10031
Pinnacle Group, 700 REALTY CO., LLC
...
Manhattan, 10031
Pinnacle Group, THE 668 RIVERSIDE CON
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Manhattan, 10032
Pinnacle Group, THE 801 RIVERSIDE CON
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Manhattan, 10032
Pinnacle Group, THE 812 RIVERSIDE CON
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Manhattan, 10032
Pinnacle Group, THE 807 RIVERSIDE CON
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Manhattan, 10031
Pinnacle Group, 725 REALTY CO. LLC
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