Pinnacle Group’s portfolio continues to grow
Pinnacle Group has acquired a new property to enlarge its already big New York portfolio. The company owned by Joel Weiner spent $31.5 million in a residential tower that is located in Queens that features 113 apartments. Said building is in Rego Park, at 97-25 64th Avenue. It spans 98,000 square feet and the seller was Oregon Realty Company, who had owned the property since 1972.
Among other Pinnacle transactions, there is a bond issuance in Tel Aviv where $120 million were spent. Furthermore, this firm acquired two rentals in Flushing back in April for $58 million. In this opportunity, the seller was TreeTop Development. Their latest purchase was a building with 23 residential units in Sunset Park, which they bought for $13.3 million from Edward English. [The Real Deal]