By Heather Haddon
Norwood News

A landlord who recently acquired dozens of Bronx buildings has a track record of aggressively raising rents, suing tenants to recoup extra fees, and evicting people, according to residents.

Joel Wiener, a large city investor, purchased over 30 buildings in the Bronx over the past year, including two in the local area. Back in 2002, Wiener also purchased seven former Mitchell Lama buildings in Riverdale, Pelham and Williamsbridge, according to news and industry reports. The Pinnacle organization, which Wiener heads, manages all of the properties.

Tenants of the former Mitchell Lama buildings were initially encouraged when Pinnacle took them over and made a number of major capital improvements (MCIs). But the situation deteriorated within a year after the deal. Many tenants now accuse Wiener of saddling them with extra fees and exorbitant renovation costs.

"It's really ridiculous," said Joseph Brown, 50, an Olinville Avenue tenant. "He's very aggressive in trying to get more money."

All residents were slapped with a $40 air conditioner fee, as documented in rent receipts obtained from several tenants. Then there were additional parking charges. Recently, $25 carbon monoxide detectors were installed, and now Pinnacle wants to replace the apartment doors in some of the Olinville Avenue properties.

"I don't want a new door," said Brown, standing next to his solid entryway. "They're just trying to get more MCIs."

Landlords can pass off a fraction of expenses for MCIs, such as a new roof or boiler, onto tenants in the form of increased rent. It seems that Wiener is abiding by the legal percentage, but tenants charge that the cost of the original items are significantly inflated. "He's not stupid, just greedy," said Hazel Miura, a housing specialist for the Neighborhood Initiatives Development Corporation, an east Bronx nonprofit that is helping the Olinville tenants.

Pinnacle did not return calls for comment.

Pinnacle is part of a new crop of investors who seek to quickly profit from their properties by making repairs, raising rents and selling them, as documented in a 1999 Crains article. Jonathan Bowles, who heads the Center for an Urban Future, a progressive think tank, has observed this trend in Brooklyn neighborhoods. "Beginning in the late '90s, there are countless stories of investors buying buildings and flipping them more than one time," Bowles said.

Two local buildings - 950 and 957 Woodycrest Avenue - are among those the company has purchased, according to city Department of Finance records. They were purchased as part of a 51-building, $200.5 million deal that included properties in Harlem and Washington Heights, according to the New York Post and financial industry reports.

Stephanie Diallo, a resident of 60 E. 196th St., said Pinnacle did some work on the building's exterior, but nothing on the inside. She's more concerned about rumors concerning the rents. "I could not stay if they raised the rents," she said. "I don't know where else I would go."

Jordan Besek contributed to this story. This article was originally published in the Norwood News.