Joel Saul Wiener (born 1948/1949) is an American real estate developer and landlord, and the CEO of Pinnacle Group.

Early life

Joel Saul Wiener was born in

Brooklyn Brooklyn () is a borough of New York City, coextensive with Kings County, in the U.S. state of New York. Kings County is the most populous county in the State of New York, and the second-most densely populated county in the United States, be ...

, the son of Paul Wiener. His brother Arthur Wiener is also a landlord. Wiener earned a J.D. degree from

Brooklyn Law School Brooklyn Law School (BLS) is a private law school in New York City. Founded in 1901, it has approximately 1,100 students. Brooklyn Law School's faculty includes 60 full-time faculty, 15 emeriti faculty, and a number of adjunct faculty. Brookly ...

in 1974.

Career

The family firm, Arthur Holding Company, purchased New York buildings in the 1970s and 1980s. Wiener himself started buying building from the late 1980s onwards. He founded Wiener Realty in 1995. Through his company, Pinnacle Group, Wiener manages about $2 billion worth of New York City property, 10,000 apartments, almost all rent-regulated, in every borough except Staten Island. Pinnacle has had extensive funding from the Praedium REIT, including the purchase of Baruch Singer's nearly 3,000 apartments in northern Manhattan for $500 million. As of 2006, Wiener had been personally sued 84 times. His company has been the "subject of criminal investigations by the Manhattan district attorney and the state attorney general's office; it has been denounced by Representative

Charles B. Rangel Charles Bernard Rangel (, ; born June 11, 1930) is an American politician who was a U.S. representative for districts in New York from 1971 to 2017. A member of the Democratic Party, he was the second-longest serving incumbent member of the ...

and other politicians". Wiener "has a reputation for being ruthless among many tenants". In 2017,

Bloomberg News Bloomberg News (originally Bloomberg Business News) is an international news agency headquartered in New York City and a division of Bloomberg L.P. Content produced by Bloomberg News is disseminated through Bloomberg Terminals, Bloomberg Televi ...

determined that he had reached a new worth of $1.0 billion. In October 2022, it was disclosed that the State of New York obtained a settlement with Wiener, where the CEO admitted to state Attorney General Letitia James’s office that Wiener's company had failed to properly acknowledge the capital repairs necessary for gas piping when selling units in the converted Forest Hills condo. https://www.thecity.nyc/2022/10/5/23388160/joel-wiener-pinnacle-tish-james-condo-conversion-queens This was not the first time that the Pinnacle Group has come under legal scrutiny. Over the course of a 2006 investigation, the company — which owned 20,000 apartments in New York City at the time — conceded that it had overcharged rent-stabilized tenants at an apartment complex in The Bronx. Pinnacle agreed to pay $1 million to 300 tenants to make up for what they’d been overcharged, with interest. The company also agreed to “retain a forensic accounting firm to review rents charged on all of its properties in New York City.”

Personal life

Wiener is married, with a daughter, and lives in Woodmere, Long Island, New York.

References

{{DEFAULTSORT:Wiener, Joel Living people American billionaires American company founders American real estate businesspeople People from Woodmere, New York American lawyers Brooklyn Law School alumni Year of birth missing (living people) American landlords