By Jotham Sederstrom 2/07/12 9:00am

the sit-down

Thomas Elghanayan

Elghanayanville

With three dozen projects underway in Long Island City, the brothers behind Rockrose Development—two of whom split to form TF Cornerstone in 2009—are poised to compete against one another for prize renters and retailers in what is rapidly becoming Queens’s answer to Williamsburg and Dumbo. TF Cornerstone chairman Thomas Elghanayan spoke to The Commercial Observer about the EastCoast, his firm’s waterfront rental complex, the infamous Rockrose Development coin toss, and his tense relationship with brother Henry Elghanayan, chief executive of Rockrose Development. Read More

By Jotham Sederstrom 1/10/12 11:58am

the sit-down

Justin Elghanayan. (Photo by Kiki Conway)

Justin Elghanayan: Rockrose Development’s Next Generation

In 2009, the brothers behind the Rockrose Development Corporation—Henry, Thomas and Frederick Elghanayan—divided their four-decade business partnership in half, with Frederick and Thomas spinning off to form TF Cornerstone, and Henry staying put at Rockrose with his son, Justin Elghanayan, 33. Since that relatively amicable split, in which the company’s $3 billion empire was divided in half, Henry Elghanayan has rebuilt the portfolio and elevated his son, who has taken the reins as the project manager of Linc LIC, a development in Long Island City, Queens, scheduled to include two residential towers and a retail complex that, when finished in 2013, could breathe new life into the long-simmering neighborhood. Last week, Justin Elghanayan spoke to The Commercial Observer about his family’s recent split, the future of Rockrose and his Long Island City project, which includes what could be the tallest building in Queens.
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