Rockrose refinances 100 Jane Street with $65M loan

Wells Fargo provided mortgage to replace two other notes

TRD New York /
July 14, 2016 09:47 AM

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 notes — for $17.9 million and $50 million — on 100 Jane Street, a 148-unit rental building at Jane and Washington streets, the Commercial Observer reported. Andrew Singer and Kathleen McSharry of Singer & Bassuk arranged the loan. Rent in the building, which Rockrose bought in 1981, ranges from $4,650 to $6,275.

The Jane Street property is one of three West Village rentals owned by Rockrose TRData LogoTINY, Which Include 666 Greenwich Street and 110 Horatio Street. The company maintained control of the Jane Street and the Horatio Street rentals when it split in 2009. At the time, two of the Elghanyan brothers — Thomas and Frederick — went on to create TF Cornerstone, while the eldest brother of the real estate family dynasty, Henry, kept the Rockrose name. Henry also kept 200 Water Street, formerly dorms for New York University that were converted into luxury apartments.  [CO] — Kathryn Brenzel