1554 Ocean Avenue
Midwood, Brooklyn
Parcel ID (BBL): 3067210070
Owner: Summit Properties
Acquired: April 23, 2026, $5.5 million
Debt: April 23, 2026, $3.9 million
Built: 1926
Renovated: 1981
SF: 65,980
Dwelling units: 73
No. of buildings: 1
Class: Over Six Families Without Stores (C1)
Floors: 4
HPD Ownership Registration Information
Last registered: 2026-04-23 (expires 2026-09-01)
Ernest Mcclain
Head Officer
1350 6th Avenue 1925 New York, NY, 10019
Flgsp 1554 Ocean Ave Llc
Corporate Owner
1350 6th Avenue 1925 New York, NY, 10019
Nieuw Amsterdam Property Management
Agent
80 Fifth Ave 1216 New York, NY, 10011
Jamie Lawler
Site Manager
Transactions:
• Summit Properties borrowed $3.9 million from Flagstar Bank for 1554 Ocean Avenue, Midwood, Brooklyn on April 23, 2026.
• Pinnacle Group sold 1554 Ocean Avenue, Midwood, Brooklyn for $5.5 million to Summit Properties on April 23, 2026.
• Pinnacle Group borrowed $7.5 million from New York Community Bank for 1554 Ocean Avenue, Midwood, Brooklyn on February 16, 2022.
Litigation:
• Pinnacle Group on May 21, 2025, filed a $574.4 million bankruptcy 25-11050 for 1554 Ocean Avenue that has creditor Flagstar Bank.
• Pinnacle Group on May 21, 2025, filed a $574.4 million bankruptcy 25-11050 for 1554 Ocean Avenue that has creditor Flagstar Bank.
• Pinnacle Group on May 21, 2025, filed a $574.4 million bankruptcy 25-11050 for 1554 Ocean Avenue that has creditor Flagstar Bank.
• Pinnacle Group on May 21, 2025, filed a $574.4 million bankruptcy 25-11050 for 1554 Ocean Avenue that has creditor Flagstar Bank.
• Pinnacle Group on May 21, 2025, filed a $574.4 million bankruptcy 25-11050 for 1554 Ocean Avenue that has creditor Flagstar Bank.
Violations:
According to city public data, the properties have received $100 in OATH penalties in the last year.