Pinnacle Group signs $16M refi loan with Capital One for rental in Bronx

Pinnacle Group through the entity Kingsbridge Realty Associates LLC as borrower signed a refi loan with lender Capital One valued at $16 million for the 138-unit rental (D3) at 3424 Kingsbridge Avenue in Kingsbridge, the Bronx.
The deal closed on May 20, 2021 and was recorded on June 11, 2021.
The property has 128,500 square feet of built space and 14,731 square feet of additional air rights for a total buildable of 143,187 square feet according to PincusCo analysis of city data. The loan price per built square foot is $124 and the price per buildable square foot is $111 per the PincusCo analysis.
The signatory for Pinnacle Group was Joel Wiener.

Joel Wiener is CEO of the Pinnacle Group.
The owner according to the Department of Housing Preservation and Development is David Radoncic, head officer. The business entity is Kingsbridge Realty Associates Llc.
Within a 400-foot radius of 3424 Kingsbridge Avenue, Pincusco identified one commercial real estate item of interests occurred over the past 24 months.
It was a new building permit issued on January 16, 2020 for a 35,074-square-foot R-2 building with 39 residential units at 3436 Kingsbridge Avenue.

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