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TF Cornerstone
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.
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08/06/18
...largest of the second quarter's newly-completed buildings was TF Cornerstone’s 1,028-unit project at 606 West 57th Street, billed as “Manhattan’s second-largest residential building...
07/31/18
...to December 2016).
The median outer borough residential building: TF Cornerstone’s 33 Bond Street in Brooklyn. The 25-story, 600,000-square-foot property was built in two years...
07/06/18
...Rockrose split into two separate firms – Rockrose and TF Cornerstone – in 2009. Rockrose also built 4705 Center Boulevard, a 394-unit luxury rental building in Long Island...
07/05/18
...Mandell of Cushman & Wakefield represented the landlord, TF Cornerstone.
2) NYU Langone Medical Center, 1 Park Avenue, Kips Bay - 150,000 square feet
The medical center...
07/02/18
...Tom and Fred Elghanayan and 33 Bond Street (Credit: TF Cornerstone)
TF Cornerstone has landed a loan for $265.7 million from M&T Realty Capital...
06/13/18
...Performing & Fine Arts School. Upcoming projects include TF Cornerstone’s 606 West 57th Street, a 957,000-square-foot rental tower dubbed “the Max,” and its first...
05/23/18
...a new 25-story rental in Brooklyn from developer TF Cornerstone. A 25-yard pool, yoga studios and a cafe will be included the property, which...
05/22/18
...estate career. In 2009, the broker landed 99 John Street, TF Cornerstone’s 442-unit rental-to-condo conversion which had been rebranded as 99 John Deco Lofts.
“It’s...
...a new 25-story rental in Brooklyn from developer TF Cornerstone. A 25-yard pool, yoga studios and a cafe will be included the property, which...
05/16/18
...in development, with multiple megaprojects from Tishman Speyer, TF Cornerstone and others in various phases of planning and construction.
Between 2011 and 2017, the median one-to-three-family...
05/16/18
...located in Steinway Hall’s interior.
3) 660 12th Avenue, TF Cornerstone -- increase of 303,147 sq. ft. (200 percent)
This two-story FedEx distribution center on the Far...
05/03/18
...to their clients, Singer argued. In 2016, for example, TF Cornerstone tapped his firm to help refinance the Carnegie Hall Tower at 152 West 57th Street...
05/02/18
...cheese-focused French restaurant Artisinal Fromagerie Bistro owes landlord TF Cornerstone over $24 million in rent for a Park Avenue South restaurant it never opened.
The...
...to their clients, Singer argued. In 2016, for example, TF Cornerstone tapped his firm to help refinance the Carnegie Hall Tower at 152 West 57th Street...
04/30/18
...finished by summer 2019.
5. 38-21 12th Street, $25.5 million
Buyer: TF Cornerstone
Seller: Urban Green Builders
TF Cornerstone purchased this Long Island City property for $25.5 million...
04/13/18
...for doormen positions. In one memo sent by TF Cornerstone, tenants were informed that in the event of a strike, they would have to...
04/11/18
...greatly minimize the inconvenience should a walkout occur.”
TF Cornerstone also told tenants they would have to remove their own trash, and that no...
04/03/18
...overdoses. In January, Max Elghanayan, the son of TF Cornerstone co-founder Frederick Elghanayan, died of an overdose at age 30. Steve Witkoff’s son, Andrew...
04/02/18
...air rights totaling 300,000 square feet for $16.6 million from TF Cornerstone above the large distribution center it leases to FedEx.
“We’re very bullish on...
...overdoses. In January, Max Elghanayan, the son of TF Cornerstone co-founder Frederick Elghanayan, died of an overdose at age 30. Steve Witkoff’s son, Andrew...
03/28/18
...In October, SLCE won a contract to build TF Cornerstone’s 56-story, 800-unit residential tower at 52-03 Center Boulevard in Long Island City — the...
03/22/18
...cannot afford to ignore them.
Developer and landlord TF Cornerstone, which has a large population of millennial renters, has all but eliminated the paperwork...
03/15/18
...Hudson Yards.
A rendering of 33 Bond Street (Credit: TF Cornerstone)
7) Handel Architects
Project: 33 Bond Street
Location: 33 Bond Street, Brooklyn Heights
Size: 599,375 square feet
...because...
03/14/18
...partnership between Michael Dell’s investment firm and TF Cornerstone will likely make a profit of almost $90 million selling air rights to JPMorgan Chase...
03/12/18
...will consolidate their New York City offices at TF Cornerstone’s 230 Park Avenue South.
Discovery, which just completed a $12 billion takeover over Scripps, plans...
TF Cornerstone, Real Estate Salesperson
387 Park Avenue South, 7th Floor, New York, NY
387 Park Avenue South, 7th Floor, New York, NY
...
TF Cornerstone, Corporate Broker
387 Park Avenue South, 7th Floor, New York, NY
387 Park Avenue South, 7th Floor, New York, NY
...
TF Cornerstone, Associate Broker
387 Park Avenue South, 7th Floor, New York, NY
387 Park Avenue South, 7th Floor, New York, NY
...
- Event Financing
- Address 33 Bond Street
- Neighborhood Brooklyn Heights
- Borough Brooklyn
- Price $ 265,700,000
- Publication Date 07/02/2018
- Event Date 07/02/2018
- Party 1 TF Cornerstone
- Party 2 M&T Realty Capital
notes
The owners secured a loan of $265.7 million for the Brooklyn Heights property.
- Event Office Leasing
- Address 230 Park Avenue South
- Neighborhood Grand Central
- Borough Manhattan
- Square feet 362,000
- Publication Date 06/18/2018
- Event Date 06/14/2018
- Party 1 TF Cornerstone
- Party 1 Brokerage Cushman & Wakefield
- Party 1 Broker Bruce Mosler, Ethan Silverstein, Mark Mandell
- Party 2 Discovery Communications
- Party 2 Brokerage JLL
- Party 2 Broker Cynthia Wasserberger, Michael Berg, Joe Judge
notes
The communications company inked a lease for its new headquarters in New York City.
- Event Sales
- Address 38-21 12th Street
- Neighborhood Long Island City
- Borough Queens
- Square feet 37,700
- Price $ 25,500,000
- Publication Date 02/06/2018
- Event Date 01/09/2018
- Party 1 220 LIC LLC, EK 38th Avenue LLC
- Party 2 TF Cornerstone
notes
The buyer acquired the Long Island City industrial building for $25.5 million.
- Event Retail Leasing
- Address 300 Livingston Street
- Neighborhood Downtown Brooklyn
- Borough Brooklyn
- Square feet 1,051
- Publication Date 12/18/2017
- Event Date 12/11/2017
- Party 1 TF Cornerstone
- Party 1 Brokerage TF Cornerstone, Winick Realty Group
- Party 1 Broker Steve Gonzalez; Steven Baker, Aaron Fishbein, Daniyel Cohen
- Party 2 Dépanneur
- Party 2 Brokerage Ripco Real Estate
- Party 2 Broker Andrew Clemens, Ben Weiner
notes
The "better bodedga" inked a 15-year lease in Downtown Brooklyn.
- Event Retail Leasing
- Address 300 Livingston Street
- Neighborhood Downtown Brooklyn
- Borough Brooklyn
- Square feet 1,820
- Publication Date 12/18/2017
- Event Date 12/11/2017
- Party 1 TF Cornerstone
- Party 1 Brokerage TF Cornerstone, Winick Realty Group
- Party 1 Broker Steve Gonzalez; Steven Baker, Aaron Fishbein, Daniyel Cohen
- Party 2 Dépanneur
- Party 2 Brokerage Ripco Real Estate
- Party 2 Broker Andrew Clemens, Ben Weiner
notes
The "better bodedga" inked a 15-year lease in Downtown Brooklyn.
- Event Retail Leasing
- Address 300 Livingston Street
- Neighborhood Downtown Brooklyn
- Borough Brooklyn
- Square feet 1,722
- Price per foot $ 125.00
- Publication Date 08/01/2017
- Event Date 06/15/2017
- Party 1 TF Cornerstone
- Party 1 Brokerage Winick Realty Group
- Party 1 Broker Daniyel Cohen, Aaron Fishbein, Steven Baker
- Party 2 Devoción
- Party 2 Brokerage Covell Consulting Group
- Party 2 Broker Jordan Covell
notes
The Colombian coffee shop inked a 15-year lease.
- Event Retail Leasing
- Address 300 Livingston Street
- Neighborhood Downtown Brooklyn
- Borough Brooklyn
- Square feet 52,000
- Publication Date 08/01/2017
- Event Date 07/10/2017
- Party 1 TF Cornerstone
- Party 1 Brokerage TF Cornerstone; Winick Realty Group
- Party 1 Broker Steve Gonzalez; Steven Baker, Aaron Fishbein, Daniyel Cohen
- Party 2 Chelsea Piers
- Party 2 Brokerage Chelsea Piers
notes
The sports and entertainment center inked a lease.
- 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.
- Event Office Leasing
- Address 387 Park Avenue South
- Neighborhood Flatiron
- Borough Manhattan
- Square feet 20,000
- Publication Date 04/01/2017
- Event Date 02/15/2017
- Party 1 TF Cornerstone
- Party 1 Brokerage Newmark Grubb Knight Frank
- Party 1 Broker Matt Leon
- Party 2 Criteo
- Party 2 Brokerage Cushman & Wakefield
- Party 2 Broker Peter Trivelas, Dirk Hrobsky
notes
The digital advertising firm is expanding its footprint.
- 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.
- Event Sales
- Address 31-46 Steinway St, 31-48 Steinway St
- Neighborhood Astoria
- Borough Queens
- Square feet 20,800
- Price $ 13,550,000
- Publication Date 01/01/2017
- Event Date 11/17/2016
- Party 1 31-46 & 48 LLC
- Party 1 Brokerage Eastern Consolidated
- Party 1 Broker Brian Ezratty
- Party 2 TF Cornerstone
notes
The two retail properties with residential units were sold for $13.55 million.
- Event Office Leasing
- Address 387 Park Avenue South
- Neighborhood Kips Bay
- Borough Manhattan
- Square feet 20,000
- Publication Date 09/01/2016
- Event Date 07/15/2016
- Party 1 TF Cornerstone
- Party 1 Brokerage TF Cornerstone
- Party 1 Broker Chip Sealy
- Party 2 Silicon Valley Bank
- Party 2 Brokerage Colliers International
- Party 2 Broker Robert Tunis, Eric Ferriello
notes
The bank signed a lease.
- Event Retail Leasing
- Address 270 Seventh Avenue
- Neighborhood Chelsea
- Borough Manhattan
- Square feet 3,500
- 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 Bank of America
- Party 2 Brokerage CBRE
- Party 2 Broker David LaPierre, Stephen Sjurset
notes
The bank signed a lease.
- 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.
- Event Retail Leasing
- Address 310 East 23rd Street
- Neighborhood Gramercy
- Borough Manhattan
- Square feet 2,114
- Publication Date 08/01/2016
- Event Date 06/17/2016
- Party 1 TF Cornerstone
- Party 1 Brokerage Winick Realty Group
- Party 1 Broker Steven Baker, Aaron Fishbein
- Party 2 CKO Kickboxing
- Party 2 Brokerage Coldwell Banker
- Party 2 Broker Hector Urizar
notes
The fitness company signed a lease.
- Event Office Leasing
- Address 250 West 55th Street
- Neighborhood Midtown
- Borough Manhattan
- Square feet 55,000
- Publication Date 07/01/2016
- Event Date 05/15/2016
- Party 1 TF Cornerstone
- Party 1 Brokerage Newmark Grubb Knight Frank, TF Cornerstone
- Party 1 Broker Matt Leon, Chip Sealy
- Party 2 Greystone & Company
notes
The real estate financing firm renewed and expanded its lease on the 4th, 11th, 26th, 53rd and 60th floors.
- 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.
- Event Retail Leasing
- Address 107 Horatio Street
- Neighborhood West Village
- Borough Manhattan
- Square feet 1,113
- 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 Union Dry Cleaner
- Party 2 Brokerage Midtown Commercial
- Party 2 Broker Sung Cho
notes
The dry cleaners signed a lease.
- 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.
- Event Financing
- Address 387 Park Avenue South
- Neighborhood Kips Bay
- Borough Manhattan
- Square feet 222,000
- Price $ 100,000,000
- Publication Date 05/01/2016
- Event Date 03/17/2016
- Party 1 TF Cornerstone
- Party 1 Brokerage Singer & Bassuk Organization
- Party 2 Axa Equitable Life Insurance
notes
The company secured a $100 million 10-year loan.
- Event Retail Leasing
- Address 71 University Place
- Neighborhood Greenwich Village
- Borough Manhattan
- Square feet 1,034
- Publication Date 05/01/2016
- Event Date 03/17/2016
- Party 1 TF Cornerstone
- Party 1 Brokerage Winick Realty Group
- Party 1 Broker Steven Baker, Aaron Fishbein
- Party 2 Russell Cellular
- Party 2 Brokerage Gotham Realty Holdings
- Party 2 Broker Jimmy Ishay
notes
The cellular phone company singed a lease.
- Event Office Leasing
- Address 230 Park Avenue
- Neighborhood Flatiron
- Borough Manhattan
- Square feet 32,000
- Publication Date 04/01/2016
- Event Date 02/15/2016
- Party 1 TF Cornerstone
- Party 1 Brokerage Cushman & Wakefield
- Party 1 Broker Ethan Silverstein, Mark Mandell, John Peters
- Party 2 Casper
- Party 2 Brokerage TheSquareFoot
- Party 2 Broker Jonathan Wasserstrum, Justin Lee
notes
The internet based mattress company signed a lease.
- Event Sales
- Address 475 Sixth Avenue
- Neighborhood Greenwich Village
- Borough Manhattan
- Price $ 30,000,000
- Publication Date 03/01/2016
- Event Date 01/01/2016
- Party 1 Madison Capital
- Party 2 TF Cornerstone
- Party 2 Brokerage Eastdil Secured
- Party 2 Broker Adam Spies, Douglas Harmon, Joshua King, Brett Siegel
notes
TF Cornerstone acquired the 46-year ground lease for a retail co-op for $30 million.
- Event Retail Leasing
- Address 86 Gansevoort Street
- Neighborhood West Village
- Borough Manhattan
- Square feet 5,125
- Publication Date 01/01/2016
- Event Date 11/17/2015
- Party 1 TF Cornerstone
- Party 1 Brokerage RKF
- Party 1 Broker Karen Bellantoni, Tess Jacoby
- Party 2 Allouche Gallery
- Party 2 Brokerage Thor Retail Advisors
- Party 2 Broker Dan Harroch
notes
The contemporary art gallery signed a lease.
- Event Office Leasing
- Address 387 Park Avenue South
- Neighborhood Flatiron
- Borough Manhattan
- Square feet 19,269
- Publication Date 01/01/2016
- Event Date 11/17/2015
- Party 1 TF Cornerstone
- Party 1 Brokerage Newmark Grubb Knight Frank
- Party 1 Broker Matthew Leon
- Party 2 Criteo
- Party 2 Brokerage CBRE
- Party 2 Broker David Hollander
notes
The Paris-based online advertising firm signed an expansion lease in the building, bringing its presence to 60,000 sf.
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Queens, 11103
31-46 STEINWAY LLC
31-46 STEINWAY LLC
31-48 Steinway Street is a 11,615 square foot property built in 1921 in...
Queens, 11101
TF Cornerstone, 44-15 PURVES STREET LLC
TF Cornerstone, 44-15 PURVES STREET LLC
The sponsor(s) filed plans on 01/13/12 for a condo project at 44-15 Purves...
Brooklyn, 11217
TF Cornerstone, 33 BOND ST. LLC
TF Cornerstone, 33 BOND ST. LLC
33 Bond Street is a 599,375 square foot property in the Noho neighborhood...
Queens, 11109
TF Cornerstone, 4610 EAST COAST LLC
TF Cornerstone, 4610 EAST COAST LLC
4610 Center Boulevard is a 483,973 square foot building built in 2014 in...
Queens, 11109
Rockrose Development, EAST COAST 6 L.L.C.
Rockrose Development, EAST COAST 6 L.L.C.
4720 Center Boulevard is a 477,246 square foot building in the Long Island...
Manhattan, 10018
Rockrose Development, MIDTOWN WEST A LLC
Rockrose Development, MIDTOWN WEST A LLC
455 West 37th Street is a 338,820 square foot building in the Hell’S...
Manhattan, 10018
ROCKROSE DEVELOPMENT, ROCKROSE GC MWB LLC
ROCKROSE DEVELOPMENT, ROCKROSE GC MWB LLC
505 West 37th Street is an 834,583 square foot building in the Hell’S...
Brooklyn, 11217
TF CORNERSTONE, 33 BOND ST. LLC
TF CORNERSTONE, 33 BOND ST. LLC
33 Bond Street is a 599,375 square foot building in the Boerum Hill...
Manhattan, 10019
TF CORNERSTONE, 606 WEST 57 LLC
TF CORNERSTONE, 606 WEST 57 LLC
This property is a new development. The developer(s) filed plans in July of...
...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...
01/14/16
...this year amounts to $11.5 million.
505 West 37th Street
TF Cornerstone...
...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...
...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...
...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...
...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...
...which leased to UGG.
Thomas Elghanayan, chairman of TF Cornerstone, said he interviewed several brokerage firms before settling on RKF to represent space at...
...-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...
...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...
Brooklyn, 11217
TF Cornerstone, 33 BOND ST. LLC
TF Cornerstone, 33 BOND ST. LLC
33 Bond Street is a 599,375 square foot property in the Noho neighborhood...
Manhattan, 10019
TF CORNERSTONE, 606 WEST 57 LLC
TF CORNERSTONE, 606 WEST 57 LLC
This property is a new development. The developer(s) filed plans in July of...
