Pinnacle Group signs $33M refi loan with Capital One for rental in Bronxdale

Pinnacle Group through the entity Olinville Realty II LLC as borrower signed a refi loan with lender Capital One valued at $33 million for the 512-unit rental (D1) at 2280 Olinville Avenue in Bronxdale, Bronx.
The deal closed on May 20, 2021 and was recorded on June 21, 2021.
The property has 255,000 square feet of built space and 425,600 square feet of additional air rights for a total buildable of 680,400 square feet according to PincusCo analysis of city data. The loan price per built square foot is $129 and the price per buildable square foot is $48 per the PincusCo analysis.
The signatory for Pinnacle Group was Joel Wiener. The signatory for Capital One was Lisa A. Moghul.

The owner according to the Department of Housing Preservation and Development is David Radoncic, head officer. The business entity is Olinville Realty Llc.

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