Rockrose plans a $100M resi tower in LIC

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

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.

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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