Summit To Take Over 5,000 of Pinnacle’s Rent-Stabilized Units
Despite efforts by Mayor Zohran Mamdani’s administration, Summit Properties is slated to take over more than 5,000 mostly rent-stabilized New York apartments from Joel Wiener’s Pinnacle Group. The final auction price was not immediately clear after the firm issued an initial bid of $451 million. It’s the result of Pinnacle’s bankruptcy...










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