349 East 51 Street

Owner: Summit Properties

Acquired: April 24, 2026, $3.2 million

Debt: April 24, 2026, $2.6 million

Built: 1901

SF: 10,275

Dwelling units: 20

No. of buildings: 1

Class: Old Law Tenements (C4)

Floors: 5

Transactions:

• Summit Properties borrowed $2.6 million from Flagstar Bank for 349 East 51st Street, Turtle Bay, Manhattan on April 24, 2026.

• Pinnacle Group sold 349 East 51st Street, Turtle Bay, Manhattan for $3.2 million to Summit Properties on April 24, 2026.

Development:

• Isak Radoncic filed alteration job M00233259 for 229 sqft R-2 building with 20 apartments in Turtle Bay, Manhattan, on October 03, 2019.

• Meir Bouskilla filed alteration job 140856214 for RES building with 20 apartments in Turtle Bay, Manhattan, on June 24, 2019.

• Lisa Galdi filed alteration job 103938027 for building with 20 apartments in Turtle Bay, Manhattan, on October 12, 2004.

Litigation:

• Pinnacle Group on May 21, 2025, filed a $574.4 million bankruptcy 25-11050 for 349 East 51 Street that has creditor Flagstar Bank.

• Flagstar Bank filed a $149.7 million pre-foreclosure 850128/2025 on March 21, 2025, against Pinnacle Group and Joel Wiener at 349 East 51 Street.

Violations:

According to city public data, the properties have received $80 in OATH penalties in the last year.