Sunday, April 26, 2009

Rockrose split

From Crain's:

Rockrose Development Corp., one of the city’s most respected residential and commercial developers, is being split into two firms by the three Elghanayan brothers who own it.

The precise reasons for the separation and details on how the properties will be divided are yet unclear, according to real estate sources familiar with the situation.

Rockrose is currently developing a 22-acre parcel on the Long Island City, Queens, waterfront near the Pepsi-Cola Sign, as well as several condo projects in Manhattan.

The siblings are well-known in industry circles, and their split surprised many. The company is named after the Queens street where they grew up, although two of the brothers, Henry and Thomas, were actually born in Iran.

Henry, the eldest, will retain the Rockrose name but will move to a new office at 666 Fifth Ave. Sources say he has a different vision for the company than his brothers, Thomas and Fredrick, who will continue to work together. Their company is expected to be called TF Cornerstone and will continue to operate out of the company’s headquarters at 290 Park Ave. South, according to a source.

8 comments:

Anonymous said...

Wasn't Henry going through very expensive divorce proceedings?

That could explain the split!

Anonymous said...

H-m-m-m....their Pepsi site project ran into some...uh...environmental "difficulties".

The stench of oil seeping up through the soil wasn't exactly smelling like a rose!

Anonymous said...

Over price condos, which will be housing soon. It's amazing how brothers from Iran can come here and buy our mayor with SPECIAL INTEREST!

Anonymous said...

1. it wasn't henry through the divorce.

2. oil seeping through soil in nyc??? are you out of your freeking mind. every major project as this is required to have the soil tested.

3. so it's a problem because they are from iran - providing housing to nyc residents for over 30 years.

overpriced??? because you think it should be priced in your range.

i swear - everyone is talking out of their ass

Anonymous said...

"2. oil seeping through soil in nyc??? are you out of your freeking mind. every major project as this is required to have the soil tested."

And it was found to have oil seeping through the soil as it was formerly the site of a large oil refinery (before Pepsi).

Anonymous said...

So a little oil was part of Pepsi's secret formula!

Anonymous said...

H-m-m-m....there's an old oil refinery site located along the east bank of the Flushing River located somewhere between Roosevelt Avenue & Northern Boulevard.

Let's see who builds on that!

No matter...it'll be for the Asian market and built by one of their own who doesn't give a damn about his own countrymen!

Just another example of bilking their own kind!

Anonymous said...

QUEENS WEST IS A TOXIC DUMP FROM 150 YEARS AGO. A KNOWN AND QUALIFIED BROWNFIElD ON THE CITY'S ORIGINAL MAPS. THOSE TOXINS ARE NOW IN THE WATER SUPPLY THAT THOSE RESIDENTS ARE DRINKING AND IN THE AIR THEY ARE BREATHING.

THIS REAL ESTATE ASSHOLE WHO MADE A COMMENT HERE ABOUT EVERY MAJOR PROJECT HAVING SOIL TESTED IN NYC IS AN UNINFORMED, IGNORANT, ARROGANT, SAD, LOSER, LUNATIC WHO PROBABLY JUST LOST HIS JOB FROM PRUDENTIAL DOUGLAS ELLMAN FOR NOT BRINGING IN THE BACON ANYMORE.

I GUESS IT'S TIME TO MOVE BACK TO MOMMY'S BASEMENT IN OLD GREENWICH!