LHaus
Aug 12 2009

What does Rockrose’s split mean for Long Island City’s Queenswest?

East Coast compound at Queenswest, Hunters Point, Long Island City

For a while now, there’s been buzz on the Long Island City sidewalks about the corporate divorce of the Elghanayan brothers’ well known development company, Rockrose. There were many conflicting rumors flying around (aren’t there always?), and now it seems the Real Deal has managed to get a decent grasp on the split, and the impact to the company’s vast holdings in NYC, including multiple large scale residential and commercial projects in Hunters Point.

How Rockrose may be splitting up its NYC properties, from The Real Deal

It seems brother Henry will retain the Rockrose name and operate out of a 5th Ave office, still controlling the majority of the Long Island City parcels, and a decent slew of Manhattan residential buildings still in construction, and the remaining plot of undeveloped land at Queenswest. The otha brothas, Thomas and Frederick (Tom & Fred?), will operate under a new name, TF Cornerstone, and supposedly retain either the View or 4705 Center Blvd (the one with the Duane Reade). That’s where conflicting data is still flying around.

Real Estate

7 Comments

Leave Your Comment Comment Feed

How are they selling at the View? I heard they are renting it also… that must make it less attractive for buyers. Also, can all the buildings still used the 4705 amenities?

#1 Anonymous / 2 years, 6 months ago

One of The View brokers told us that 49% of the building was available as rental.

#2 Anonymous / 2 years, 6 months ago

Seems like 49% is low, but who really knows. LIC real estate brokers are known for *not* knowing what’s happening in the ‘hood.

#3 Anonymous / 2 years, 6 months ago

rockrose / east coast/ tc firestone lowering prices effective 9/15/2009. We are looking now close to $600 per sq ft. on many units. With good, view, looking at 700/ sq ft. Still pricey, but we shall see.

#4 patty mcgill / 2 years, 4 months ago

in this market goodluck. there is a reason only 19% of the building units are sold. in this economy, you have to be prudent. LIC is going to take much longer to develop now, its not a nice neighborhood, yet they want manhattan primo prices. unfair, and lame. goodbye east coast. going rental only i assume?

and how would you like to have purchased before they cut prices drastically lower and opened the building up to renters. WOW. HOSEJOB

#5 Michael Barret / 2 years, 4 months ago

i would sue if i bought. i mean wtf. is this even legal what they are doing?

#6 james b / 2 years, 4 months ago

Anything new on The View?

I looked at apartments there earlier this year and found the prices too steep. I also HATED the small size of the bedrooms and the lack of closet space. If you put a king sized bed in there, that’s all you’d have room for…

I decided to rent at Avalon Riverview for the year and wait it out. Now when I look out my window, I can count the empty units at the View (15 that I could see at last count). We’re also talking primo spots facing the water and on higher floors. Prices are going to have to start coming down soon…

#7 gd / 1 year, 7 months ago

Leave Your Comment

Some HTML Allowed

Your e-mail will not be shown. Although if you have a Gravatar it will be shown here. Otherwise, anonymous comments are welcome.