Pinnacle Group borrows $6M from New York Community Bank for property in Jackson Heights

Pinnacle Group through the entity 94-06 34th Avenue Realty Co., LLC as borrower signed a loan agreement with lender New York Community Bank valued at $5.9 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 58 residential units at 94-06 34th Avenue in Jackson Heights. The deal closed on September 26, 2019 and was recorded on October 15, 2019.
The property contains a total of 52,040 square feet of built space.
The average loan per unit is $101,655.

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

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