Pinnacle Multifamily New York, NY

Pinnacle Multifamily | New York, NY

In June 2008, Brickman, as part of an equity consortium purchased a direct-equity investment in a 5,737 unit portfolio of rent stabilized, Class C multi-family rental buildings throughout the New York City boroughs of Brooklyn, Bronx, and Queens. The firm identified the opportunity to invest in a stabilized portfolio of multi-family properties that had rents well below market and the potential to increase value through renovating units and driving achievable levels of rent. The business plan will also seek to enhance returns through the opportunistic sales of select buildings, capitalizing on the discount of a bulk purchase that was achieved at acquisition.

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