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TF Cornerstone

387 Park Ave South
New York, NY
(212) 672-1000
Website

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.


Entertainment firm behind Chelsea Piers inks 52K sf lease in Brooklyn
07/10/17
...Bond Street, Jake Elghanayan and Chelsea Piers (Credit: TF Cornerstone, Getty Images and Chelsea Piers) The company that brought the city Chelsea Piers is...

Steven Elghanayan’s firm secures $78M to refi Soho office building
06/27/17
...is the cousin of the Elghanayans that operate TF Cornerstone and Rockrose Development. Steven's brother Michael runs the U.K. operations of EPIC. Representatives...

Brookfield exec Ric Clark to be named chair of Downtown Alliance
06/20/17
...s biggest real estate players — Brookfield, Time Equities, TF Cornerstone and Jack Resnick & Sons, to name a few. Though BIDs are often thought...

TF Cornerstone’s long-delayed Queens waterfront project could move forward soon
06/01/17
...below the site, according to Crain’s. Developer TF Cornerstone , which was chosen to construct the project in December 2013, changed its building design last...

NYC’s largest real estate loans in April
05/18/17
...of a $325 million refinancing. Jeremy Shell, of landlord TF Cornerstone, claimed that nearby Billionaires' Row has “correlated very positively” to rising office rents at...

Rockrose Development plans 18-story,
123-unit building in LIC
04/20/17
...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...

TF Cornerstone lands $325M loan for Carnegie Hall Tower
04/12/17
...The Carnegie Hall Tower TF Cornerstone refinanced the Carnegie Hall Tower in Midtown with a $325 million loan from Metropolitan Life...

Whose backyard is it anyway? Inside the meltdown at New York YIMBY
03/27/17
...living – advertisers included the likes of Douglas Elliman, TF Cornerstone and Morris Adjmi – charting the course of the city’s skyscrapers on his increasingly...

EPIC scores $65M loan for four Manhattan properties
02/21/17
...who run real estate firms Rockrose Development and TF Cornerstone. Michael Elghanayan, his brother, heads EPIC's U.K. operations. Steven did not immediately respond...

Hallets Point chills out: After 421a, Durst downsized project, retooled air conditioning system
11/07/16
...much tenants should be billed. Other developers, like TF Cornerstone, have also turned to PTAC alternatives. Bruce Weill, who works for the developer's construction...

Here’s what the $10M-$20M NYC investment sales market looked like last week
10/24/16
...project in the works at 163 Orchard Street. 5.) Developer TF Cornerstone paid $13.6 million for a pair of adjacent retail buildings at 31-46 Steinway Street and...

Banks are following the money to Midtown South
10/03/16
...of 387 Park Avenue South (inset: Jake Elghanayan) (credit: TF Cornerstone) Financial firms have been increasingly inking office leases in Midtown South this year in...

Will Fort Greene’s glut of rentals put an end to rising prices?
08/30/16
...saturated,” said Sofia Estevez, executive vice president at TF Cornerstone , which is developing a 714-unit rental at 33 Bond Street. “I think it’ll take...

Silicon Valley Bank gobbles up 20K sf at 387 PAS
07/28/16
...Rendering of 387 Park Avenue South (credit: TF Cornerstone) Silicon Valley Bank is doubling its footprint in Manhattan and setting up shop closer...

Rockrose refinances 100 Jane Street with $65M loan
07/14/16
...brothers — Thomas and Frederick — went on to create TF Cornerstone, while the eldest brother of the real estate family dynasty, Henry, kept the Rockrose...

Nightingale pays Extell $28M for Midtown leasehold
06/21/16
...a $76 million operating lease at 645 Madison Avenue from TF Cornerstone. At the time, the 157,000-square-foot building had about 36,000 square feet of vacant retail space...

City issues RFPs for two more Hunter’s Points South parcels
06/03/16
...million square feet of space. The city picked TF Cornerstone to develop a third site in the area, with a plan to build about...

TF Cornerstone tweaks Hunter’s Point project after discovering Amtrak tunnel
05/03/16
...From left: Tom Elghanayan, Frederick Elghanayan of TF Cornerstone and rendering of Hunters Point South project TF Cornerstone is tweaking its plans for...

TF Cornerstone, Durst among possible contenders for city’s LIC development
04/19/16
...of the city's largest developers. Forest City Ratner, TF Cornerstone, Rose Associates and the Durst Organization all attended an informational session about the RFP...

Newmark trio takes REBNY award for UES sanitation-site swap
04/13/16
...Outlets and Singer & Bassuk’s refinancing of TF Cornerstone’s headquarters on Park Avenue South.) Heller congratulated the winning Newmark brokers for succinctly...

Pepsi-Cola sign in LIC designated a landmark
04/12/16
...and was calendared in 1988, according to Curbed. Developer TF Cornerstone bought Pepsi's land in the early 2000s with the understanding the sign would be...

Singer & Bassuk reaches into bag of tricks to refi TF Cornerstone’s HQ
03/23/16
...net lease to cover the vacant space at TF Cornerstone’s 387 Park Avenue South, a pair of brokers from The Singer & Bassuk Organization...

Elghanayan development site sold for $64M
03/21/16
...was split in 2009 with Thomas and Frederick forming TF Cornerstone. Last year, Forbes listed the Elghanayans as the 122nd richest family in America, with...

Stanley Wasserman scores $232M loan for UES portfolio 
03/17/16
...John” Elghanayan, whose nephews founded Rockrose Development and TF Cornerstone, had assembled the portfolio over several years. Elghanayan died in...

Supply glut stalling out luxury resi market
03/15/16
...trying to sell apartments at $5,000 per square foot,” TF Cornerstone’s Thomas Elghanayan told the Times. The problem may not be a lack of...
Maleshri Mandavia
TF Cornerstone, Real Estate Salesperson
387 Park Avenue South, 7th Floor, New York, NY
...
Kevin Singleton
TF Cornerstone, Corporate Broker
387 Park Avenue South, 7th Floor, New York, NY
...
Charles Katzenstein
TF Cornerstone, Corporate Broker
387 Park Avenue South, 7th Floor, New York, NY
...
Palmer Sealy III
TF Cornerstone, Associate Broker
387 Park Avenue South, 7th Floor, New York, NY
...
Nenad Jerzabek
TF Cornerstone, Associate Broker
387 Park Avenue South, 7th Floor, New York, NY
...
For more info, click here
  • Event Financing
  • Address 152 West 57th Street
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 555,000
  • Price $ 325,000,000
  • Publication Date 05/01/2017
  • Event Date 04/13/2017
  • Party 1 TF Cornerstone
  • Party 1 Brokerage Singer & Bassuk Organization
  • Party 1 Broker Jeremy Shell
  • Party 2 Metropolitan Life Insurance Company
notes
The entity secured a refinance of $325 million for the Carnegie Hall Tower on Billionaire's Row.
For more info, click here
  • Event Office Leasing
  • Address 387 Park Avenue South
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 20,000
notes
The digital advertising firm is expanding its footprint.
For more info, click here
  • Event Office Leasing
  • Address 90 Broad Street
  • Neighborhood Financial District
  • Borough Manhattan
  • Square feet 4,197
  • Publication Date 02/01/2017
  • Event Date 12/18/2016
  • Party 1 TF Cornerstone
  • Party 1 Brokerage JLL
  • Party 1 Broker Ed Ditolla
  • Party 2 Change to Win
  • Party 2 Brokerage Bantam Realty Services
  • Party 2 Broker Daniel Rodriguez-Sains, Emory Hardy
notes
The Non-For Profit signed a lease.
For more info, click here
  • Event Sales
  • Address 31-46 Steinway St, 31-48 Steinway St
  • Neighborhood Astoria
  • Borough Queens
  • Square feet 20,800
  • Price $ 13,550,000
notes
The two retail properties with residential units were sold for $13.55 million.
For more info, click here
  • 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.
For more info, click here
  • Event Retail Leasing
  • Address 270 Seventh Avenue
  • Neighborhood Chelsea
  • Borough Manhattan
  • Square feet 3,500
notes
The bank signed a lease.
For more info, click here
  • Event Office Leasing
  • Address 387 Park Avenue South
  • Neighborhood Kips Bay
  • Borough Manhattan
  • Square feet 20,000
notes
The bank signed a lease.
For more info, click here
  • Event Retail Leasing
  • Address 310 East 23rd Street
  • Neighborhood Gramercy
  • Borough Manhattan
  • Square feet 2,114
notes
The fitness company signed a lease.
For more info, click here
  • 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.
For more info, click here
  • Event Retail Leasing
  • Address 107 Horatio Street
  • Neighborhood West Village
  • Borough Manhattan
  • Square feet 1,113
notes
The dry cleaners signed a lease.
For more info, click here
  • 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.
For more info, click here
  • 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.
For more info, click here
  • Event Retail Leasing
  • Address 71 University Place
  • Neighborhood Greenwich Village
  • Borough Manhattan
  • Square feet 1,034
notes
The cellular phone company singed a lease.
For more info, click here
  • 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.
For more info, click here
  • Event Office Leasing
  • Address 230 Park Avenue
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 32,000
notes
The internet based mattress company signed a lease.
For more info, click here
  • 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.
For more info, click here
  • Event Retail Leasing
  • Address 387 Park Avenue South
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 10,700
notes
The restaurant signed a lease.
For more info, click here
  • 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.
For more info, click here
  • Event Retail Leasing
  • Address 86 Gansevoort Street
  • Neighborhood West Village
  • Borough Manhattan
  • Square feet 5,125
notes
The contemporary art gallery signed a lease.
For more info, click here
  • 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.
For more info, click here
  • Event Retail Leasing
  • Address 387 Park Avenue South
  • Neighborhood NoMad
  • Borough Manhattan
  • Square feet 11,000
notes
The restaurant signed a lease.
For more info, click here
  • Event Retail Leasing
  • Address 387 Park Avenue South
  • Neighborhood NoMad
  • Borough Manhattan
  • Square feet 4,061
notes
The retailer signed a lease.
For more info, click here
  • Event Retail Leasing
  • Address 387 Park Avenue South
  • Neighborhood NoMad
  • Borough Manhattan
  • Square feet 4,601
  • Price per foot $ 250.00
notes
The gym signed a lease.
For more info, click here
  • 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
For more info, click here
  • Event Office Leasing
  • Address 387 Park Avenue South
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 19,000
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Queens, 11109
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203 East 69th Street
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Manhattan, 10001
434 WEST 35 ST CO
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220 West 26th Street
Manhattan, 10001
200-220 WEST 26 LLC
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340 East 34th Street
Manhattan, 10016
340 EAST 34 II L.L.C.
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211 Pearl Street
Manhattan, 10038
TF Cornerstone, 205 PEARL LLC
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200 West 26th Street
Manhattan, 10001
200-220 WEST 26 LLC
...
201 East 69th Street
Manhattan, 10021
201 EAST 69 LLC
...
90 Broad Street
Manhattan, 10004
BROAD STREET PLAZA, L
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453 West 37th Street
Manhattan, 10018
Rockrose Development, MIDTOWN WEST A LLC
...
45 Wall Street
Manhattan, 10005
45 WALL ST. L.L.C.
...
2 Gold Street
Manhattan, 10038
2 GOLD LLC
...
505-West-37th-Street
505 West 37th Street
Manhattan, 10018
Rockrose Development, ROCKROSE GC MWB LLC
...
276-Livingston-Street
33 Bond Street
Brooklyn, 11201
TF Cornerstone, 33 BOND ST. LLC
...
606 West 57th Street
Manhattan, 10019
TF Cornerstone, 606 WEST 57 LLC
...

Rentopoly: Who owns
New York?
...units in the city within the last 10 years. TF Cornerstone, the real estate firm run by brothers K. Thomas and Frederick Elghanayan, has developed...

421a-TRData-feature
These are the five biggest Manhattan buildings in the 421a program
01/14/16
...this year amounts to $11.5 million. 505 West 37th Street TF Cornerstone...

Queens: The land
of mega projects
...build over 900 units. Tom and Frederick Elghanayan’s TF Cornerstone and Selfhelp Community Services are developing the second phase, with a total of 1,193 units...

2014’s residential records — so far
...paid all cash for the three-bedroom unit in TF Cornerstone’s 17-story building, which launched sales in 2008. The apartment was a resale, not a...

Who has the tightest grip on NYC?
...to a large number of exclusive listings at TF Cornerstone’s 99 John Street and at a condominium property at 138 Fulton Street. In Battery Park...

2012’s biggest money makers
...well-known real estate family that owns residential-focused firms TF Cornerstone and Rockrose Development.   Seller: Cariplo Pension Fund Address: 10 East 53rd Street Total profit...

Mass market for Meatpacking
...which leased to UGG. Thomas Elghanayan, chairman of TF Cornerstone, said he interviewed several brokerage firms before settling on RKF to represent space at...

Office tenants avoid decisions they may regret later
...-story Class A property at 645 Madison Avenue, landlord TF Cornerstone put the entire 17th floor, a 7,000-square-foot space, on the market last month with...

The biggest brokerages
...high-profile new projects the firm is marketing, including TF Cornerstone condos 99 John Street in Lower Manhattan and the View in Long Island City. Still...
33 Bond Street
Brooklyn, 11217
TF Cornerstone, 33 BOND ST. LLC
33 Bond Street is a 599,375 square foot property in the Noho neighborhood...
49 Bond Street
Brooklyn, 11201
TF Cornerstone, 33 BOND ST. LLC
...
4610 Center Boulevard
Queens, 11109
TF Cornerstone, 4610 EAST COAST LLC
...
211 Pearl Street
Manhattan, 10038
TF Cornerstone, 205 PEARL LLC
...
453 West 37th Street
Manhattan, 10018
Rockrose Development, MIDTOWN WEST A LLC
...
276-Livingston-Street
33 Bond Street
Brooklyn, 11201
TF Cornerstone, 33 BOND ST. LLC
...
606 West 57th Street
Manhattan, 10019
TF Cornerstone, 606 WEST 57 LLC
...
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