Rockrose plans a $100M resi tower in LIC

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

TRD 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
The Real Deal interviews TF Cornerstone's Tom Elghanayan at REBNY's 124th annual banquet.

TF Cornerstone exec: How I got over Amazon dumping LIC

A photo illustration of Michael Gianaris and Jeff Bezos (Credit: Getty Images, Wikipedia, iStock)

Gianaris wants to reform NYC tax credit programs that drew Amazon

Amazon CEO Jeff Bezos and Tesla CEO Elon Musk with Long Island City (Credit: Getty Images, Wikipedia)

Amazon insiders: HQ2 campaign driven by Bezos’ ego, subsidy envy

45-10 19th Avenue in Long Island City (Credit: Google Maps)

Broadway Stages plans another Queens film studio

Charney Construction and Development's Sam Charney and 45-03 23rd Street in Long Island City (Credit: Charney Construction, Google Maps)

Charney Construction & Development branches out

Scott Rechler and clockwise from top left: 2455-2457 Third Avenue, 150 West 48th Street and 42-11 9th Street (Credit: Google Maps, Getty Images)

RXR’s Long Island City development was the biggest new project filed in December

Savanna's Chris Schlank and One Court Square (Credit: iStock)

One Court Square recapitalized in $880M deal

A rendering of Hunters Point South

Developers score at least $446M in city financing for LIC development

arrow_forward_ios
Loading...