Rockrose split finalized

From the NY Times:

The three brothers — known as the Elghanayan brothers — who are among the city’s most prolific residential builders over the past 40 years, completed their long-awaited break-up Tuesday with the division of a multibillion dollar empire of apartments and office buildings.

The oldest brother, H. Henry Elghanayan, retained the company name, Rockrose Development, as well as 2,634 apartments in buildings ranging from the Archive building on Greenwich Street in Manhattan to the “East Coast,” a massive high rise on the waterfront in Queens. Mr. Elghanayan, the only brother with a son, Justin, in the family business, initiated the split. He and his son, he said, wanted to go out on their own to develop some land that they had acquired over the years.

Mr. Elghanayan also held onto a large development site across 11th Avenue from the Jacob K. Javits Convention Center on Manhattan’s West Side and three development sites at Court Square in Long Island City.

His younger brothers, Thomas and Frederick Elghanayan, will operate as TF Cornerstone, with 3,200 apartments and seven office towers, including the family’s most well known, Carnegie Hall Tower on West 57th Street. They control two of the three towers the brothers built at Queens West, as well as three development sites there.

The brothers will share ownership of four other office buildings, and two residential buildings, including 99 John St.