Manhattan, NY – An eviction-loving landlord is seeking to send a set of 22 apartment buildings into the hands of a new owner.
The Pinnacle Group, led by Joel Weiner, is taking bids on a portfolio of 384 apartments on West 109th Street, a chunk of real estate that could fetch more than $70 million.
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Pinnacle, which owns a reported 21,000 apartments citywide, has become a symbol of the pressures of rising real estate values, attracting widespread attention and jabs from politicians for reportedly harsh tactics against tenants.
Since buying a massive portfolio of apartments from Baruch Singer, Pinnacle has sent out eviction notices on an immense scale, well beyond the norm.
Pinnacle is seeking a new owner for its buildings on 109th Street between Broadway and Columbus Avenue, looking for a single buyer to grab them up in one clean swoop. A spokesman for Pinnacle declined to comment. [observer]