The Real Deal New York

Rockrose Development plans 18-story,
123-unit building in LIC

91K sf project at 43-12 Hunter would be across the street from 51-story luxury rental

43-25 Hunter Street Henry and Justin Elghanayan

UPDATED, April 20, 3:02 p.m.: Rockrose Development Corporation is planning an 18-story residential building across the street from its rental complex in Long Island City.

The proposed building at 43-12 Hunter Street would feature 123 units across 86,560 square feet, according to permit application filed with the city Thursday. There are also plans for 4,000 square feet of retail space, as well as a lounge, an exercise room and a rooftop terrace. SLCE Architects TRData LogoTINY is the architect of record.

Rockrose paid $1 million for the site in 2006, records show.

Rockrose, led by father and son team Henry and Justin Elghanayan, developed the Hayden, a 51-story luxury rental building across the street at 43-25 Hunter Street. The building has 974 apartments — 20 percent of which are designated as affordable in return for $270 million in refinancing from the New York State Housing Finance Agency.

Rockrose split into two separate firms – Rockrose and TF Cornerstone – in 2009.  Rockrose controls 100 Jane Street and 110 Horatio Street — two West Village rentals. It also built 4705 Center Boulevard, a 394-unit luxury rental in Long Island City.

A representative for Rockrose could not be immediately reached for comment.

Correction: An earlier version of this story incorrectly stated the Hayden is Rockrose’s first building in Queens.

(To see more properties owned by Rockrose Development, click here)