416 East 17 Street

Owner: Summit Properties

Acquired: April 24, 2026, $3.2 million

Debt: April 24, 2026, $2.3 million

Built: 1925

SF: 19,500

Dwelling units: 21

No. of buildings: 1

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

Floors: 5

Transactions:

• Summit Properties borrowed $2.3 million from Flagstar Bank for 416 East 17th Street and 422 East 17th Street, Flatbush, Brooklyn on April 24, 2026.

• Pinnacle Group sold 416 East 17th Street and 422 East 17th Street, Flatbush, Brooklyn for $3.2 million to Summit Properties on April 24, 2026.

Development:

• Mandeep Kaur filed alteration job B00999805 for 200 sqft building with 21 apartments in Flatbush, Brooklyn, on February 02, 2024.

Litigation:

• Pinnacle Group on May 21, 2025, filed a $574.4 million bankruptcy 25-11050 for 416 East 17 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 416 East 17 Street.

Violations:

According to city public data, the properties have received $10,000 in ECB penalties and $10,025 in OATH penalties in the last year.