405 East 16 Street

Owner: Summit Properties

Acquired: April 20, 2026, $4.3 million

Debt: April 20, 2026, $3.7 million

Built: 1959

SF: 51,176

Dwelling units: 62

No. of buildings: 1

Class: Semi-fireproof (Without Stores) (D1)

Floors: 6

HPD Ownership Registration Information

Last registered: 2026-04-23 (expires 2026-09-01)

Transactions:

• Summit Properties borrowed $3.7 million from Flagstar Bank for 405 East 16th Street, Flatbush, Brooklyn on April 20, 2026.

• Pinnacle Group sold 405 East 16th Street, Flatbush, Brooklyn for $4.3 million to Summit Properties on April 20, 2026.

• Pinnacle Group borrowed $6.4 million from New York Community Bank for 405 East 16th Street, Flatbush, Brooklyn on September 23, 2021.

Development:

• Isak Radoncic filed alteration job B00551869 for 8,529 sqft R-2 building with 62 apartments in Flatbush, Brooklyn, on July 06, 2021.

• Mandeep Kaur filed alteration job B00539347 for 200 sqft building with 62 apartments in Flatbush, Brooklyn, on July 06, 2021.

• Mandeep Kaur filed alteration job B00539346 for 100 sqft building with 62 apartments in Flatbush, Brooklyn, on June 30, 2021.

Litigation:

• Pinnacle Group on May 21, 2025, filed a $574.4 million bankruptcy 25-11050 for 405 East 16 Street that has creditor Flagstar Bank.

• Pinnacle Group on May 21, 2025, filed a $574.4 million bankruptcy 25-11050 for 405 East 16 Street that has creditor Flagstar Bank.

• Pinnacle Group on May 21, 2025, filed a $574.4 million bankruptcy 25-11050 for 405 East 16 Street that has creditor Flagstar Bank.

• Pinnacle Group on May 21, 2025, filed a $574.4 million bankruptcy 25-11050 for 405 East 16 Street that has creditor Flagstar Bank.

• Pinnacle Group on May 21, 2025, filed a $574.4 million bankruptcy 25-11050 for 405 East 16 Street that has creditor Flagstar Bank.

Violations:

According to city public data, the properties have received $3,125 in ECB penalties and $3,225 in OATH penalties in the last year.