Pinnacle Group Sells Rights to Upper West Side Apartment Tower for $88M
Pinnacle Group has offloaded another asset, this time on Manhattan’s Upper West Side. The prominent New York City landlord, which put a massive rent-stabilized portfolio into bankruptcy last year, sold its rights to an apartment building at 323 West 96th Street to private real…
Pinnacle Group has offloaded another asset, this time on Manhattan’s Upper West Side. The prominent New York City landlord, which put a massive rent-stabilized portfolio into bankruptcy last year, sold its rights to an apartment building at 323 West 96th Street to private real…
BELLINGS Intelligence Score: 10
Why it matters
This is a routine real estate asset sale by a landlord exiting a distressed portfolio, with limited broader market impact or novelty for credit professionals.
Sources
Commercial Observer
Pinnacle Group Sells Rights to Upper West Side Apartment Tower for $88M
Pinnacle Group has offloaded another asset, this time on Manhattan’s Upper West Side. The prominent New York City landlord, which put a massive rent-stabilized portfolio into bankruptcy last year, sold its rights to an apartment building at 323 West 96th Street to private real…