Pinnacle Group obtained financing of $8M from New York Community Bank

Pinnacle Group through the entity 43-60 Baychester, LLC as borrower signed a loan agreement with lender New York Community Bank valued at $7.6 million for 1 parcel, including the tax class multifamily, fireproof (standard construction without stores) (D3) and containing 72 residential units at 4360 Baychester Avenue in Morrisania. The deal closed on June 19, 2019 and was recorded on August 09, 2019.
The property contains a total of 95,726 square feet of built space.
The average loan per unit is $105,194.

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

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