Pinnacle Lands Contract for Iconic Manhattan Property
- Jul 26, 2016
New York—Pinnacle announced it has been named property manager for The Corner, a Class A luxury residential tower in Manhattan’s Upper West Side. This marks the company’s first management contract in New York City, operating as Pinnacle City Living.
Located at 200 W 72nd St., the 196-unit, pet-friendly high-rise is situated just steps away from the 72nd St. subway station. The LEED Silver-certified property changed hands in 2011, for a reported $209 million, more than $1 million per unit. Sold by Gotham Organization to TIAA, the asset is currently subject to a CMBS loan of $105 million originated by KeyBank.
Completed in 2010, the high-end community offers 13 different floor plans of studios, one-, two-, and three-bedroom units. Amenities include children’s playroom, community room, fitness center, 10,000-square-foot rooftop terrace, private balconies/patios in select units, bike storage facilities, 24-7 doorman and concierge services. The Corner also includes approximately 43,000 square feet of retail.
“We have a long standing national relationship with the owner and we are pleased to be working for them under our newly formed brand,” said Rick Graf, president & CEO of Pinnacle, in prepared remarks.
Image courtesy of Yardi Matrix