Pinnacle Group signs $43.5M refi loan for 459-unit rental in Bronx

Pinnacle Group through the entity Underhill Realty LLC as borrower signed a refi loan with lender Capital One valued at $43.5 million for the 459-unit rental (D3) at 920 Thieriot Avenue in Bronx, Bronx.
The deal closed on May 20, 2021 and was recorded on July 1, 2021.
The property has 490,000 square feet of built space and 61,322 square feet of additional air rights for a total buildable of 551,901 square feet according to PincusCo analysis of city data. The loan price per built square foot is $88 and the price per buildable square foot is $78 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 Abidin Radoncic, head officer. The business entity is Underhill Realty Co Llc.

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