Henry Elghanayan on his first property acquisition and splitting the family firm

From the April issue: Henry Elghanayan is the CEO of Rockrose Development, the Manhattan investment and development firm he founded in 1970. Elghanayan and his two brothers famously split the company in 2009 with Henry taking the Rockrose name, and his brothers, K. Thomas and Frederick Elghanayan, forming TF Cornerstone. At the time of the split, Rockrose owned 8,000 New York City apartments, nine development sites and nine office buildings. Rockrose kept a third of those assets in the split, and the company currently has $1 billion invested in the Court Square area of Long Island City, where it’s building a 700-unit rental tower called the Linc LIC. [more]