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 Manhattans 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.


AC-feature
11/07/16
When 421a expired nearly a year ago, developers bemoaned the chilling effect its absence would have on rental development in New York City. For the...

79 Walker Street in Tribeca and Joshua Caspi
10/24/16
...a hotel project in the works at 163 Orchard Street. 5.) Developer TF Cornerstone paid $13.6 million for a pair of adjacent retail buildings at...

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10/03/16
...Rendering of 387 Park Avenue South (inset: Jake Elghanayan) (credit: TF Cornerstone) Financial firms have been increasingly inking office leases in Midtown...

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08/30/16
Fort Greene’s sudden logjam of luxury rentals could cut into profits for some of the borough’s top rental developers, ending a price run that’s lasted years. Tags: david schwartz,...

07/28/16
...Rendering of 387 Park Avenue South (credit: TF Cornerstone) Silicon Valley Bank is doubling its footprint in Manhattan and...

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07/14/16
Rockrose Development Corp. is refinancing a rental building in the West Village with a $65 million mortgage from Wells Fargo. The loan replaces two previous...

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06/21/16
Simon Singer and Elie Schwartz’s Nightingale Group acquired the ground lease for a 15-story Midtown office building from Extell Development, according to property records filed with the...

06/03/16
The Department of Housing Preservation and Development is seeking developers for two more land parcels at the 30-acre Hunter’s Points South site in Long Island...

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05/03/16
...From left: Tom Elghanayan, Frederick Elghanayan of TF Cornerstone and rendering of Hunters Point South project TF Cornerstone is...

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04/19/16
The city is looking to reshape its waterfront and has a test case in mind: Long Island City. In February, the city’s Economic Development Corporation...

Mark-Weiss-FB
04/13/16
One man’s trash is another man’s treasure, and a trio of brokers from Newmark Grubb Knight Frank now have the plaques to prove it. The team won...

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04/12/16
On Tuesday, the Landmarks Preservation Commission designated Queens’ Pepsi-Cola sign a landmark and extended the Park Slope Historic District as it dealt with its backlogged...

387pas_REBNY-Ingenious-FB
03/23/16
...a creative net lease to cover the vacant space at TF Cornerstone’s 387 Park Avenue South, a pair of brokers from The...

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03/21/16
Developers Chance Gordy and Steve Mills acquired an Upper East Side residential development site, part of the portfolio of the estate of Aghadjan Elghanayan, for...

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03/17/16
Stanley Wasserman’s S.W. Management secured a $232 million acquisition loan from Deutsche Bank for a pair of Upper East Side multifamily buildings the company purchased...

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03/15/16
So many ultra-luxury apartments, so few ultra high-net-worth individuals who want to buy them. The top of the end of the city’s residential market –...

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03/10/16
Casper can now rest easy. The e-commerce startup that sells what it calls “outrageously comfortable” mattresses to consumers online scored a new office space on...

De Blasio state of the city feature
02/24/16
A tenant and labor coalition blasted a recently set-up nonprofit that is to lobby on behalf of Mayor Bill de Blasio’s affordable housing plan before...

837 11th Avenue and John Catsimatidis
02/08/16
...is home to the Balilo diner on the ground floor. TF Cornerstone’s massive 1,028-unit residential project at 606 West 57th Street will...

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...

387pas_roof ft
12/09/15
...Jean-Baptiste Rudelle) French advertising firm Criteo is already expanding at TF Cornerstone’s 387 Park Avenue South less than a year after taking...

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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...
To see all, go to Advanced Search
  • Event Retail Leasing
  • Address 7 East 14th Street
  • Neighborhood Union Square
  • Borough Manhattan
  • Square feet 825
  • Publication Date 09/01/2016
  • Event Date 07/15/2016
  • Party 1 TF Cornerstone
  • Party 1 Brokerage Winick Realty Group
  • Party 1 Broker Steven Baker, Aaron Fishbein
  • Party 2 Pressed Juicery
  • Party 2 Brokerage F&B Group
  • Party 2 Broker Julian Hitchcock
notes
The juice café signed a lease.
  • Event Retail Leasing
  • Address 270 Seventh Avenue
  • Neighborhood Chelsea
  • Borough Manhattan
  • Square feet 3,500
  • Publication Date 09/01/2016
  • Event Date 07/15/2016
  • Party 1 TF Cornerstone
  • Party 1 Brokerage Winick Realty Group
  • Party 1 Broker Steven Baker, Aaron Fishbein
  • Party 2 Bank of America
  • Party 2 Brokerage CBRE
  • Party 2 Broker David LaPierre, Stephen Sjurset
notes
The bank signed a lease.
  • Event Office Leasing
  • Address 387 Park Avenue South
  • Neighborhood Kips Bay
  • Borough Manhattan
  • Square feet 20,000
  • Publication Date 09/01/2016
  • Event Date 07/15/2016
  • Party 1 TF Cornerstone
  • Party 1 Brokerage TF Cornerstone
  • Party 1 Broker Chip Sealy
  • Party 2 Silicon Valley Bank
  • Party 2 Brokerage Colliers International
  • Party 2 Broker Robert Tunis, Eric Ferriello
notes
The bank signed a lease.
  • Event Retail Leasing
  • Address 310 East 23rd Street
  • Neighborhood Gramercy
  • Borough Manhattan
  • Square feet 2,114
notes
The fitness company signed a lease.
  • Event Office Leasing
  • Address 37 East 18th Street
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 7,500
  • Publication Date 06/01/2016
  • Event Date 05/18/2016
  • Party 1 TF Cornerstone
  • Party 1 Brokerage TheSquareFoot
  • Party 1 Broker Ken Quinlan
  • Party 2 Body Labs
  • Party 2 Brokerage Cornerstone Management
  • Party 2 Broker Leonard Fox
notes
The digital scanning company signed a 5-year lease.
  • Event Retail Leasing
  • Address 107 Horatio Street
  • Neighborhood West Village
  • Borough Manhattan
  • Square feet 1,113
notes
The dry cleaners signed a lease.
  • Event Retail Leasing
  • Address 7 East 14th Street
  • Neighborhood Union Square
  • Borough Manhattan
  • Square feet 825
  • Publication Date 06/01/2016
  • Event Date 05/18/2016
  • Party 1 TF Cornerstone
  • Party 1 Brokerage Winick Realty Group
  • Party 1 Broker Steven Baker, Aaron Fishbein
  • Party 2 Pressed Juicery
  • Party 2 Brokerage F&B Group
  • Party 2 Broker Julian Hitchcock
notes
The restaurant signed a lease.
  • Event Office Leasing
  • Address 250 West 55th Street
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 55,000
notes
The real estate financing firm renewed and expanded its lease on the 4th, 11th, 26th, 53rd and 60th floors.
  • Event Retail Leasing
  • Address 71 University Place
  • Neighborhood Greenwich Village
  • Borough Manhattan
  • Square feet 1,034
notes
The cellular phone company singed a lease.
  • Event Financing
  • Address 387 Park Avenue South
  • Neighborhood Kips Bay
  • Borough Manhattan
  • Square feet 222,000
  • Price $ 100,000,000
notes
The company secured a $100 million 10-year loan.
  • Event Office Leasing
  • Address 230 Park Avenue
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 32,000
  • Publication Date 04/01/2016
  • Event Date 02/15/2016
  • Party 1 TF Cornerstone
  • Party 1 Brokerage Cushman & Wakefield
  • Party 1 Broker Ethan Silverstein, Mark Mandell, John Peters
  • Party 2 Casper
  • Party 2 Brokerage TheSquareFoot
  • Party 2 Broker Jonathan Wasserstrum, Justin Lee
notes
The internet based mattress company signed a lease.
  • Event Sales
  • Address 475 Sixth Avenue
  • Neighborhood Greenwich Village
  • Borough Manhattan
  • Price $ 30,000,000
notes
TF Cornerstone acquired the 46-year ground lease for a retail co-op for $30 million.
  • Event Retail Leasing
  • Address 387 Park Avenue South
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 10,700
notes
The restaurant signed a lease.
  • Event Office Leasing
  • Address 387 Park Avenue South
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 19,269
notes
The Paris-based online advertising firm signed an expansion lease in the building, bringing its presence to 60,000 sf.
  • Event Retail Leasing
  • Address 86 Gansevoort Street
  • Neighborhood West Village
  • Borough Manhattan
  • Square feet 5,125
notes
The contemporary art gallery signed a lease.
  • Event Office Leasing
  • Address 101 Maiden Lane
  • Neighborhood Financial District
  • Borough Manhattan
  • Square feet 1,670
  • Publication Date 12/01/2015
  • Event Date 10/22/2015
  • Party 1 TF Cornerstone
  • Party 2 Dos Toros
  • Party 2 Brokerage Zelnik & Company
  • Party 2 Broker Adam Langer
notes
The mexican restaurant signed a lease for its ninth location in the city.
  • Event Retail Leasing
  • Address 387 Park Avenue South
  • Neighborhood NoMad
  • Borough Manhattan
  • Square feet 11,000
notes
The restaurant signed a lease.
  • Event Retail Leasing
  • Address 387 Park Avenue South
  • Neighborhood NoMad
  • Borough Manhattan
  • Square feet 4,061
notes
The retailer signed a lease.
  • 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
[EMPTY]
  • Event Office Leasing
  • Address 387 Park Avenue South
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 19,000
notes
[EMPTY]
  • Event Financing
  • Address 606 West 57th Street
  • Neighborhood Clinton
  • Borough Manhattan
  • Square feet 992,938
  • Price $ 384,000,000
notes
A $384 million mortgage with a four-year term and option to extend was arranged for the 42-story
  • Event Retail Leasing
  • Address 101 Maiden Lane
  • Neighborhood Financial District
  • Borough Manhattan
  • Square feet 1,683
notes
The juice bar signed a lease.
  • Event Retail Leasing
  • Address 4545 Center Boulevard
  • Neighborhood Long Island City
  • Borough Queens
  • Square feet 1,252
notes
The waxing salon 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.
To see all, go to Advanced Search
Manhattan, 10014
95-97 HORATIO L.L.C.
...
Brooklyn, 11201
TF Cornerstone, 33 BOND ST. LLC
...
Queens, 11109
TF Cornerstone, 4610 EAST COAST LLC
...
Manhattan, 10014
...
Queens, 11109
Rockrose Development, EAST COAST 6 L.L.C.
...
Queens, 11109
TF Cornerstone, EAST COAST 1, LLC
...
Queens, 11109
TF Cornerstone, 4545 EAST COAST LLC
...
Queens, 11109
TF Cornerstone, EAST COAST 4, LLC
...
Manhattan, 10021
201 EAST 69 LLC
...
Manhattan, 10001
434 WEST 35 ST CO
...
Manhattan, 10001
200-220 WEST 26 LLC
...
Manhattan, 10016
340 EAST 34 II L.L.C.
...
Manhattan, 10038
TF Cornerstone, 205 PEARL LLC
...
Manhattan, 10001
200-220 WEST 26 LLC
...
Manhattan, 10021
201 EAST 69 LLC
...
Manhattan, 10004
BROAD STREET PLAZA, L
...
Manhattan, 10018
Rockrose Development, MIDTOWN WEST A LLC
...
Manhattan, 10005
45 WALL ST. L.L.C.
...
Manhattan, 10038
2 GOLD LLC
...
Manhattan, 10018
Rockrose Development, ROCKROSE GC MWB LLC
...
Brooklyn, 11201
TF Cornerstone, 33 BOND ST. LLC
...
Manhattan, 10019
TF Cornerstone, 606 WEST 57 LLC
...

rentopoly-feature
With all of the trades, windfalls, setbacks and wildcards, New York City’s rental market  can often resemble a big round of Monopoly. But in the...

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
There are more than a dozen bridge, tunnel, subway and ferry routes between Manhattan and Queens, and residential ...

The $118.5M listing at the Ritz Carlton
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Biggest Deals
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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 --...
Brooklyn, 11201
TF Cornerstone, 33 BOND ST. LLC
...
Queens, 11109
TF Cornerstone, 4610 EAST COAST LLC
...
Queens, 11109
Rockrose Development, EAST COAST 6 L.L.C.
...
Queens, 11109
TF Cornerstone, EAST COAST 1, LLC
...
Queens, 11109
TF Cornerstone, 4545 EAST COAST LLC
...
Queens, 11109
TF Cornerstone, EAST COAST 4, LLC
...
Manhattan, 10038
TF Cornerstone, 205 PEARL LLC
...
Manhattan, 10018
Rockrose Development, MIDTOWN WEST A LLC
...
Manhattan, 10018
Rockrose Development, ROCKROSE GC MWB LLC
...
Brooklyn, 11201
TF Cornerstone, 33 BOND ST. LLC
...
Manhattan, 10019
TF Cornerstone, 606 WEST 57 LLC
...
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