{"id":1004092801,"date":"2014-03-18T06:30:27","date_gmt":"2014-03-18T14:30:27","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004092801"},"modified":"2022-12-08T17:14:01","modified_gmt":"2022-12-09T01:14:01","slug":"pinnacle-group-buys-out-hudson-realty-in-208m-deal","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/pinnacle-group-buys-out-hudson-realty-in-208m-deal\/","title":{"rendered":"Pinnacle Group Buys Out Hudson Realty in $208M Deal"},"content":{"rendered":"

By Scott Baltic, Contributing Editor<\/i><\/p>\n

\"Robert<\/a>

Robert Knakal, of Massey Knakal<\/p><\/div>\n

Real estate investment firm Pinnacle Group has bought out the interests of its equity partner, Hudson Realty Capital, in 26 apartment buildings in Brooklyn for $208 million, it was announced Friday by New York law firm Pryor Cashman.<\/p>\n

Pryor Cashman partners Ronald Kremnitzer and Samson Bechhofer represented Pinnacle.<\/p>\n

The buildings have 20 to 100 units each.<\/p>\n

As of press time, neither Pinnacle nor Hudson could be reached for further information or comment.<\/p>\n

\u201cThe multi-family market in the outer boroughs is red hot at the moment. Extraordinarily low yields in Manhattan are increasingly pushing investors to Brooklyn, Queens and the Bronx,\u201d Bob Knakal, chairman of Massey Knakal Realty Services, told Commercial Property Executive<\/i>.<\/p>\n

The portfolio, consisting mostly of buildings in or near Crown Heights or Prospect Park South, had been purchased by the partners from Praedium Capital for $133 million in 2003, according to TheRealDeal.com.<\/p>\n

The same site also reported in early February that Hudson Realty Capital was looking to sell a 53-building, 1,270-apartment portfolio in the Kew Gardens area of Queens for an amount up to $250 million.\u00a0Massey Knakal is marketing that portfolio for Hudson.<\/p>\n","protected":false},"excerpt":{"rendered":"

Real estate investment firm Pinnacle Group has bought out the interests of its equity partner, Hudson Realty Capital, in 26 apartment buildings in Brooklyn for $208 million.<\/p>\n","protected":false},"author":882,"featured_media":1004089113,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742],"tags":[],"class_list":["post-1004092801","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest"],"acf":[],"yoast_head":"\nPinnacle Group Buys Out Hudson Realty in $208M Deal - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/pinnacle-group-buys-out-hudson-realty-in-208m-deal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pinnacle Group Buys Out Hudson Realty in $208M Deal\" \/>\n<meta property=\"og:description\" content=\"Real estate investment firm Pinnacle Group has bought out the interests of its equity partner, Hudson Realty Capital, in 26 apartment buildings in Brooklyn for $208 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/pinnacle-group-buys-out-hudson-realty-in-208m-deal\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-03-18T14:30:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T01:14:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/12\/Robert-Knakal-Chairman-Massey-Knakal.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"371\" \/>\n\t<meta property=\"og:image:height\" content=\"336\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pinnacle-group-buys-out-hudson-realty-in-208m-deal\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pinnacle-group-buys-out-hudson-realty-in-208m-deal\\\/\"},\"author\":{\"name\":\"Scott Baltic\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/61ac1450f3ffaa0e850b834c28526555\"},\"headline\":\"Pinnacle Group Buys Out Hudson Realty in $208M Deal\",\"datePublished\":\"2014-03-18T14:30:27+00:00\",\"dateModified\":\"2022-12-09T01:14:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pinnacle-group-buys-out-hudson-realty-in-208m-deal\\\/\"},\"wordCount\":206,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pinnacle-group-buys-out-hudson-realty-in-208m-deal\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2013\\\/12\\\/Robert-Knakal-Chairman-Massey-Knakal.jpg\",\"articleSection\":[\"Investment\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pinnacle-group-buys-out-hudson-realty-in-208m-deal\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pinnacle-group-buys-out-hudson-realty-in-208m-deal\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pinnacle-group-buys-out-hudson-realty-in-208m-deal\\\/\",\"name\":\"Pinnacle Group Buys Out Hudson Realty in $208M Deal - 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