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

Pinnacle Group through the entity Park Lane South Realty Co., LLC as borrower signed a loan agreement with lender New York Community Bank valued at $6.0 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 48 residential units at 86-20 Park Lane South in Woodhaven. The deal closed on September 26, 2019 and was recorded on October 10, 2019.
The property contains a total of 40,902 square feet of built space.
The average loan per unit is $123,979.

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

Share this article