TF Cornerstone | The Real Deal New York

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TF Cornerstone

387 Park Ave South
New York, NY
(212) 672-1000
Website
TF Cornerstone
TF Cornerstone
TF Cornerstone is a New York City real estate developer and owner and developer of both residential and commercial property. It is perhaps best-known, however, for its residential holdings, particularly luxury rentals such as 2 Gold Street and 45 Wall Street in the Financial District as well as 200 West 26th Street in Chelsea and 201 East 69th Street on the Upper East Side. TF Cornerstone also developed 505 West 37th Street, an 825-unit development in Manhattan’s emerging Hudson Yards area. Some apartments in these buildings rent in the low five figures. Commercially, the firm controls the office buildings 230 Park Avenue South, the Carnegie Hill Tower, 645 Madison Avenue and 387 Park Avenue South, where TF Cornerstone has its headquarters. The firm grew out of the work of brothers Tom and Fred Elghanayan, who spun off from their old Rockrose firm into TF Cornerstone in 2009. Tom serves as chairman of the firm and Fred as president.
421a-TRData-feature
01/14/16
Did you know four of the five largest buildings in Manhattan developed with the 421a tax abatement are on the West Side? Or that Silverstein Properties...
Livingston
01/14/16
UPDATED, 9:50 p.m., Jan.14: Abraham Leifer, a Borough Park-based investor who runs Aview Equities, is stealthily piecing together a large Downtown Brooklyn assemblage that could...
lazzpad_200x143
12/26/15
UPDATED, 3:37 pm, Dec. 28: The Long Island City home of artist Robert Lazzarini is in contract for $2.25 million, shattering the price-per-square-foot record in...
SLCE buildings
12/15/15
Robert A.M. Stern and Sir Norman Foster may get all the glory, but SLCE Architects gets all the business. The firm, which is a major...
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12/09/15
French advertising firm Criteo is already expanding at TF Cornerstone’s 387 Park Avenue South less than a year after taking 40,000 square feet at the...
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11/27/15
Multifamily investor Stanley Wasserman is in contract to buy an Upper East Side portfolio from members of the Elghanayan real estate family for north of...
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11/03/15
Sean Dowdell was awarded $26 million to be paid by TF Cornerstone as compensation for a 2012 accident in which the construction worker fell from...
645 madison FriedlandFB
10/28/15
Nightingale Properties and the Friedland Properties bought an $76 million operating lease for a prime corner property on Madison Avenue, eyeing a quick upside from the building’s...
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10/15/15
The Bjarke Ingels-designed pyramid building on the Far West Side is surely a draw to renters looking to lease an apartment, and soon it may...
10-Monteith-Street-ODA-1
10/05/15
After reaching a median rent of more than $3,000, you might think Brooklyn’s soaring housing market is showing no sign of an impending slowdown. While it’s true that developers...
Bleecker
09/28/15
The residents of a 243-unit residential co-op building in Greenwich Village banded together to acquire the master lease for the retail and office space at...
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06/11/15
A branch of the Elghanayan real-estate family tree is looking to sell an Upper East Side residential portfolio that could go for $400 million or...
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05/18/15
After last week’s announcement that Bill Ackman’s Pershing Square Capital bought the Ford Motor Company building at 787 11th Avenue, the question of whether traditional...
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04/03/15
TF Cornerstone is looking for a $140 million loan to replace existing debt on its 12-story office property at 387 Park Avenue South. The Singer &...
RockroseFinal
04/03/15
New York state housing officials are getting ready to provide $270 million in financing for Rockrose Development’s 974-unit rental project in Long Island City. ...
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04/01/15
TF Cornerstone’s hulking residential project at 606 West 57th Street just got a new rendering. Tags: tf cornerstone ...
Gary-Malin-Citi-Habitatsthumb
03/11/15
Residential brokerage Citi Habitats inked a lease for a new corporate headquarters at TF Cornerstone’s 387 Park Avenue South. The firm is taking up roughly...
02/27/15
Current reader favorites: 1. Ira Rennert’s Hamptons estate valued at $500M 2. Agnelli family to sell Cushman & Wakefield 3. Drama over 45 John reaches...
fdny
02/25/15
UPDATED, 7:50 p.m., Feb. 25: A three-story Hell’s Kitchen building owned by TF Cornerstone partially collapsed this afternoon while it was being demolished. At least...
387PAS
02/05/15
Criteo is moving into a 40,000-square-foot office space at TF Cornerstone’s 387 Park Avenue South. Tags: 387 park avenue south, tf cornerstone ...
33-Bond-Street
12/15/14
Thomas and Fred Elghanayan’s TF Cornerstone secured a $250 million mortgage from the New York State Housing Finance Agency for its planned 714-unit residential building...
lic-sites
11/14/14
Queens Village-based landlord James Juliano is asking north of $50 million for a pair of Long Island City development sites with a total of 172,000...
606-w-57
11/05/14
Developer TF Cornerstone received a $384 million construction loan for its 42-story tower project at 606 West 57th Street on the far West Side. Tags:...
cushman
10/28/14
The 40,000-square-foot retail component at TF Cornerstone’s 22-story office building in Midtown East is being marketed, according to the developer. Joanne Podell and Andrew Kahn...
Barnett-Elghanayan-FB
10/27/14
New York City’s biggest real estate developers made a big splash in the political arena this month just before the election, forking out more than...
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  • Event Retail Leasing
  • Address 387 Park Avenue South
  • Neighborhood NoMad
  • Borough Manhattan
  • Square feet 4,601
  • Price per foot $ 250.00
  • Publication Date 10/01/2015
  • Event Date 08/22/2015
  • Party 1 TF Cornerstone
  • Party 1 Brokerage Winick Realty Group
  • Party 1 Broker Steve Baker, Aaron Fishbein
  • Party 2 Barry's Bootcamp
  • Party 2 Brokerage Neal Cabot Ohm
  • Party 2 Broker Neal Ohm
notes
The gym signed a lease.
  • Event Retail Leasing
  • Address 101 Maiden Lane
  • Neighborhood Financial District
  • Borough Manhattan
  • Square feet 1,500
  • Publication Date 09/01/2015
  • Event Date 07/23/2015
  • Party 1 TF Cornerstone
  • Party 2 Juice Generation
notes
The retailer signed a lease.
  • Event Office Leasing
  • Address 387 Park Avenue South
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 19,000
notes
The residential brokerage signed a lease to occupy the fourth floor.
  • Event Financing
  • Address 606 West 57th Street
  • Neighborhood Clinton
  • Borough Manhattan
  • Square feet 992,938
  • Price $ 384,000,000
  • Publication Date 12/01/2014
  • Event Date 10/22/2014
  • Party 1 TF Cornerstone
  • Party 2 Wells Fargo, M&T Bank, Helaba
  • Party 2 Broker n/a
notes
A $384 million mortgage with a four-year term and option to extend was arranged for the 42-story
  • Event Retail Leasing
  • Address 808 Washington Street
  • Neighborhood West Village
  • Borough Manhattan
  • Square feet 1,035
  • Publication Date 02/01/2012
  • Event Date 12/23/2011
  • Party 1 TF Cornerstone
  • Party 1 Brokerage RKF
  • Party 1 Broker Karen Bellantoni, Pamela Haber
  • Party 2 Christian Louboutin
  • Party 2 Brokerage Ripco Real Estate
  • Party 2 Broker Jeffrey Painser
notes
The men's fashion boutique signed a long-term lease.
  • Event Retail Leasing
  • Address 810 Washington Street
  • Neighborhood West Village
  • Borough Manhattan
  • Square feet 825
notes
The apparel boutique signed a lease for a new store.
  • Event Retail Leasing
  • Address 812 Washington Street
  • Neighborhood West Village
  • Borough Manhattan
  • Square feet 2,725
notes
The apparel and accessories retailer signed a long-term lease. The space includes 1,885 square feet on the ground floor, 240 square feet in the mezzanine and 600 square feet in the basement.
  • Event Retail Leasing
  • Address 521 West Street
  • Neighborhood West Village
  • Borough Manhattan
  • Square feet 3,750
notes
The BBQ chain signed a 10-year lease for another location.
  • Event Retail Leasing
  • Address 201 East 69th Street
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 3,000
notes
The wireless communications retailer signed a 10-year lease.
  • Event Retail Leasing
  • Address 202 East 70th Street
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 2,837
  • Publication Date 09/01/2010
  • Event Date 07/23/2010
  • Party 1 TF Cornerstone
  • Party 1 Brokerage Winick Realty Group
  • Party 1 Broker Steven Baker, Joshua Singer
  • Party 2 Lenox Hill Radiology Medical
  • Party 2 Brokerage Winick Realty Group
  • Party 2 Broker Steven Baker, Joshua Singer
notes
The radiology center inked a lease.
  • Event Retail Leasing
  • Address 505 West 37th Street
  • Neighborhood Hudson Yards
  • Borough Manhattan
  • Square feet 9,570
notes
The tenant signed a lease for a private event venue and catering hall.
  • Event Retail Leasing
  • Address 505 West 37th Street
  • Neighborhood Hudson Yards
  • Borough Manhattan
  • Square feet 10,350
  • Publication Date 05/01/2011
  • Event Date 03/22/2011
  • Party 1 TF Cornerstone
  • Party 1 Brokerage Winick Realty Group
  • Party 1 Broker Steven Baker, Joshua Singer
  • Party 2 Ark Restaurants
  • Party 2 Brokerage KGW Associates
  • Party 2 Broker Fred Klein, Herb Weisberg
notes
The restaurant operator signed a lease for a new restaurant concept. The reported asking rent was $40 per square foot.
  • Event Retail Leasing
  • Address 310 East 23rd Street
  • Neighborhood Gramercy Park
  • Borough Manhattan
  • Square feet 1,382
  • Publication Date 03/01/2011
  • Event Date 01/20/2011
  • Party 1 TF Cornerstone
  • Party 1 Brokerage Winick Realty Group
  • Party 1 Broker Steven Baker, Joshua Singer
  • Party 2 New York Picture
  • Party 2 Brokerage Winick Realty Group
  • Party 2 Broker Steven Baker, Joshua Singer
notes
The retailer signed a lease.
  • Event Retail Leasing
  • Address 2 Gold Street
  • Neighborhood Financial District
  • Borough Manhattan
  • Square feet 5,000
  • Publication Date 06/01/2014
  • Event Date 04/22/2014
  • Party 1 TF Cornerstone
  • Party 2 SoulCycle
notes
The cycling studio signed a lease for its 10th New York City location.
  • Event Retail Leasing
  • Address 2 Gold Street
  • Neighborhood Financial District
  • Borough Manhattan
  • Square feet 2,800
notes
The Chicago-based sandwich chain signed a 15-year lease for its first New York City location.
  • Event Office Leasing
  • Building Name Carnegie Hall Tower
  • Address 152 West 57th Street
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 9,000
  • Price per foot $ 120.00
notes
The tenant signed a lease renewal for the entire 58th floor, the New York Observer reported.
  • Event Office Leasing
  • Building Name Carnegie Hall Tower
  • Address 152 West 57th Street
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 41,500
notes
The financial services firm signed a new lease.
  • Event Office Leasing
  • Building Name Carnegie Hall Tower
  • Address 152 West 57th Street
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 41,500
  • Price per foot $ 100.00
notes
The financial firm signed a lease renewal on floors 47 through 51.
  • Event Office Leasing
  • Building Name Carnegie Hall Tower
  • Address 152 West 57th Street
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 11,000
notes
The asset management group signed an expansion lease on the 40th floor, the New York Post reported. The tenant is relocating from a smaller space on the 41st floor.
  • Event Office Leasing
  • Building Name Carnegie Hall Tower
  • Address 152 West 57th Street
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 25,312
notes
The entertainment law firm signed a five-year lease renewal on the 30th through 32nd floors of the building, known as Carnegie Hall Tower.
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Manhattan, 10019
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421a-TRData-feature
01/14/16
Did you know four of the five largest buildings in Manhattan developed with the 421a tax abatement are on the West Side? Or that Silverstein Properties...
From left: A rending of the Witkoff Group's 5Pointz project and Justin Elghanayan, president of Rockrose Development
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A view of the Meatpacking District, which, despite seeing an increase in foot traffic because of the High Line, has seen retail rents remain soft....
After a strong first half of the year, Manhattan leasing activity declined in the third quarter. But despite the slowdown, which stemmed from a dearth...
A year ago this month, New York's real estate community experienced one of the darker moments of the recession when Coldwell Banker Hunt Kennedy --...

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TF Cornerstone
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TF Cornerstone
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