Pinnacle Group borrows $12M from New York Community Bank for multifamily property in Jackson Heights

Pinnacle Group through the entity 34 Avenue Realty Co., LLC as borrower signed a loan agreement with lender New York Community Bank valued at $12.3 million for 1 parcel, including the tax class multifamily, fireproof (standard construction without stores) (D3) and containing 83 residential units at 76-09 34th Avenue in Jackson Heights. The deal closed on December 10, 2019 and was recorded on January 14, 2020.
The property contains a total of 100,890 square feet of built space.
The average loan per unit is $147,940.

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Direct link to the city’s interactive property map, ZOLA. link

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