Summit closes deal for Pinnacle portfolio, concluding fight with Mamdani
A contentious multifamily deal has closed, ending a bankruptcy saga. Summit Properties has closed on a portfolio of more than 5,100 mostly rent-stabilized New York apartments that were put into bankruptcy by Joel Wiener’s Pinnacle Group. Summit paid $451 million for the portfolio, in a deal that cl
TRD PolicyPro: City Council to form co-op and condo caucus
This story gives you a peek at the content coming to our new platform, TRD Policy Pro. Sign up to get early access here. Hey there, let’s get into today’s news at the intersection of policy and real estate: In this edition we mention: City Council members Kevin Riley and Julie Won, the Citizens Budg
Yellowstone secures $203M loan for office-to-resi conversion
Isaac Hera may no longer be pursuing a hotel project at the Candler Building in Times Square, but he still has plenty of support from lenders. Yellowstone Real Estate Investments secured $203 million in debt for the office-to-residential conversion of 220 West 42nd Street, the Commercial Observer re
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