Rockrose plans a $100M resi tower in LIC

Firm purchased 27-34 Jackson Avenue, next to its 55-story Eagle Lofts project

New York /
Feb.February 10, 2020 09:30 AM
27-34 Jackson Avenue and Rockrose's Justin Elghanayan

27-34 Jackson Avenue and Rockrose’s Justin Elghanayan

Rockrose is planning a new residential project in Long Island City.

The company, run by father and son Henry and Justin Elghanayan, has bought a cab service and dispatch station at 27-34 Jackson Avenue, where it plans to build a second smaller phase to its Eagle Lofts project, according to Crain’s. The new property is next to a 55-story, 790-unit apartment tower that Rockrose finished building two years ago.

The adjacent smaller building will have about 220 residential units and retail space on the ground floor. Development costs should total about $100 million and will connect with and share amenities with the larger tower.

Rockrose has focused heavily on Long Island City in recent years, building a residential tower known as Hayden at 43-25 Hunter Street with almost 1,000 units. The firm also leased retail space next to Hayden spanning almost 2,000 square feet to Tacombi, the taco chain, and it owns a Jackson Avenue building home to the bar and restaurant Dutch Kills.

“We were especially interested in this lot because a building there will really fill out Jackson Avenue, creating more retail space and more of a street life in the neighborhood,” Rockrose President Justin Elghanayan told Crain’s. “In a way, this is filling in a hole on the avenue.” [Crain’s] – Eddie Small


Related Articles

arrow_forward_ios
A rendering of the site at 41-50 21st Street in Long Island City (Rendering via FX Collaborative)

LIC Opportunity Zone dev site asks $60M

LIC Opportunity Zone dev site asks $60M
Innovo Property Group's Andrew Chung and the LIC property. (IPC)

Andrew Chung plans massive industrial project in Long Island City

Andrew Chung plans massive industrial project in Long Island City
TF Cornerstone president Fredrick Elghanayan and an aerial of 54-01, 54-19 2nd Street in Long Island City (Credit: TF Cornerstone and Google Maps)

No Amazon, no problem: TF Cornerstone plans 1,400 apartments in LIC

No Amazon, no problem: TF Cornerstone plans 1,400 apartments in LIC
Renderings by Archimaera

LIC will soon house the nation’s largest passive house office

LIC will soon house the nation’s largest passive house office
The Factory building at 30-30 47th Avenue with Square Mile Capital’s Craig Solomon and Invesco CEO Marty Flanagan (Photos via The Factory; Square Mile; Invesco)

Here’s what tenants are paying at the Factory in Long Island City

Here’s what tenants are paying at the Factory in Long Island City
Square Mile Capital’s Craig Solomon and Hackman Capital Partner’s Michael Hackman with Silvercup Studios at 42-22 22nd Street in Long Island City (Hackman; Silvercup Studios)

Hackman and the City: Hackman, Square Mile buy Silvercup Studios

Hackman and the City: Hackman, Square Mile buy Silvercup Studios
Carlyle CEO Kewsong Lee and 24-02 Queens Plaza South in Long Island City (Getty; Atlas Capital)

Carlyle Group pockets $40M LIC trade school building

Carlyle Group pockets $40M LIC trade school building
Traub Capital's Brian Crosby and 27-11 49th Avenue in Long Island City (Images via Traub and Google Maps)

Traub Capital pays $75M for LIC cosmetics plant

Traub Capital pays $75M for LIC cosmetics plant
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...