1048 Union Street

Owner: Summit Properties

Acquired: April 21, 2026, $1.3 million

Debt: April 21, 2026, $1.1 million

Built: 1920

SF: 18,254

Dwelling units: 20

No. of buildings: 1

Class: Over Six Families Without Stores (C1)

Floors: 4

Transactions:

• Summit Properties borrowed $1.1 million from Flagstar Bank for 1048 Union Street, Crown Heights, Brooklyn on April 21, 2026.

• Pinnacle Group sold 1048 Union Street, Crown Heights, Brooklyn for $1.3 million to Summit Properties on April 21, 2026.

Litigation:

• Pinnacle Group on May 21, 2025, filed a $574.4 million bankruptcy 25-11050 for 1048 Union Street that has creditor Flagstar Bank.

• Flagstar Bank filed a $296.9 million pre-foreclosure 509749/2025 on March 22, 2025, against Pinnacle Group and Joel Wiener at 1048 Union Street.

Violations:

According to city public data, the properties have received $350 in OATH penalties in the last year.