The Daily Dirt: Pinnacle’s apartments sell despite tenant pleas. What’s next?

On Thursday afternoon, a group of tenants gathered at the corner of West 55th Street and Sixth Avenue.  “Don’t let our homes be sold to another slumlord!” they said.  Just a few blocks away, a very different gathering was taking place: an auction for those same homes.  At the law offices of Weil, Gotshal & Manges, bids were circulating for more than 5,000 mostly rent-stabilized apartments. They are the property of Joel Wiener’s Pinnacle Group, which had put them into bankruptcy.  We’ve heard the auction started Thursday morning and went into the night. But the winner was confirmed at 4 […] This article originally appeared on The Real Deal. Click here to read the full story.