689 Ocean Avenue

Owner: Summit Properties

Acquired: April 20, 2026, $4.9 million

Debt: April 20, 2026, $3.9 million

Built: 1923

Renovated: 1982

SF: 61,272

Dwelling units: 60

No. of buildings: 1

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

Floors: 6

Transactions:

• Summit Properties borrowed $3.9 million from Flagstar Bank for 681 Ocean Avenue, Flatbush, Brooklyn on April 20, 2026.

• Pinnacle Group sold 681 Ocean Avenue, Flatbush, Brooklyn for $4.9 million to Summit Properties on April 20, 2026.

• Pinnacle Group borrowed $6.4 million from New York Community Bank for 681 Ocean Avenue, Flatbush, Brooklyn on October 04, 2021.

Development:

• Joginder Singh filed alteration job B00756031 for 200 sqft building with 60 apartments in Flatbush, Brooklyn, on June 13, 2022.

• Isak Radoncic filed alteration job 340654269 for RES building with 60 apartments in Flatbush, Brooklyn, on January 07, 2019.

Litigation:

• Pinnacle Group on May 21, 2025, filed a $574.4 million bankruptcy 25-11050 for 681 Ocean Avenue that has creditor Flagstar Bank.

• Pinnacle Group on May 21, 2025, filed a $574.4 million bankruptcy 25-11050 for 681 Ocean Avenue that has creditor Flagstar Bank.

• Pinnacle Group on May 21, 2025, filed a $574.4 million bankruptcy 25-11050 for 681 Ocean Avenue that has creditor Flagstar Bank.

• Pinnacle Group on May 21, 2025, filed a $574.4 million bankruptcy 25-11050 for 681 Ocean Avenue that has creditor Flagstar Bank.

• Pinnacle Group on May 21, 2025, filed a $574.4 million bankruptcy 25-11050 for 681 Ocean Avenue that has creditor Flagstar Bank.

Violations:

According to city public data, the properties have received $4,375 in ECB penalties and $5,075 in OATH penalties in the last year.