Joel Wiener
Joel Saul Wiener | |
|---|---|
| Born | 1948 or 1949 Brooklyn, New York, U.S. |
| Occupation(s) | Property developer, landlord, CEO of Pinnacle Group |
| Known for | CEO of Pinnacle Group, managing over 10,000 rent-regulated apartments in New York City |
Joel Saul Wiener (born 1948 or 1949) is an American property developer and landlord, holding the position of CEO at Pinnacle Group.
Early life
A native of Brooklyn, Wiener is the son of Paul Wiener. His sibling, Arthur Wiener, is also involved in property management. He obtained his J.D. degree from Brooklyn Law School in 1974.
Career
The family-owned business, Arthur Holding Company, purchased real estate in New York during the 1970s and 1980s. Joel Wiener started acquiring properties in the late 1980s and established Wiener Realty in 1995. Via Pinnacle Group, he oversees a portfolio valued at roughly $2 billion in New York City real estate, which includes more than 10,000 predominantly rent-regulated apartments spread across four boroughs.
Pinnacle Group has arranged substantial funding from Praedium REIT, including a major acquisition of close to 3,000 apartments in northern Manhattan from Baruch Singer for $500 million.
By 2006, Wiener was subject to 84 personal lawsuits, and regulatory agencies at both the Manhattan and state levels scrutinized his company. Public figures such as Representative Charles B. Rangel have openly criticized Pinnacle for its assertive tenant relations practices.
Bloomberg News estimated Wiener's net worth at $1 billion in 2017, attributing this to New York City's gentrification dynamics.
In October 2022, Wiener reached a settlement with New York State after acknowledging that Pinnacle had failed to disclose required capital repairs related to gas piping during the sale of a condo conversion in Forest Hills. Earlier, following a 2006 inquiry involving approximately 20,000 apartments, Pinnacle consented to pay $1 million plus interest to 300 tenants in the Bronx for rent overcharges and agreed to conduct comprehensive rent audits throughout its holdings.
Personal life
Wiener lives in Woodmere, Long Island, New York with his wife and daughter.