Over the span of four decades, Rockrose has developed 10,000 units of residential space and has developed or acquired over three million square feet of commercial space.
Rockrose Development Corp. is a premier NYC owner-builder-manager with a name for architectural excellence, sensitivity to neighborhoods, vision for "creating community", and reputation for carefully managing our projects. Founded in 1970 by three brothers, the company first concentrated on the renovation of brownstone apartments in the Greenwich Village area of Manhattan. Over the years the firm gradually broadened its scope to include new apartment construction, large-scale rehabilitation, and major office development. Currently, the firm is under the leadership of Henry Elghanayan working with his son, Justin.
In large part, Rockrose's success over the past 40 years can be attributed to following a simple business philosophy: select projects carefully, plan rigorously and manage intensively. Continuing the tradition of excellence with which it was originally founded, this family-owned and operated company still upholds the same attentive hands-on style of business that assures efficiency, controls cost, and maintains quality.
Since 1970, Rockrose has successfully purchased existing assets and land in New York City and Washington DC for value, repositioning and new development. The firm has a generational outlook on investing, and as a result views acquisitions and investments through a long-term buy and hold strategy. Over the years, we have acquired, built or repositioned approximately 60 projects encompassing 10,000 residential units, 2.5 million square feet of office and 500,000 square feet of retail space, totaling 12.7 million square feet of residential, commercial and retail property valued at approximately $6 billion.
Over 40 years of profit-driven investing, Rockrose has developed an extensive network of relationships and a track record that allows us to consistently identify unique opportunities and off-market transactions. This network, bolstered by our fine reputation in the marketplace, can deliver on its promises. Rockrose has achieved incredible investing successes both for its own account and that of others, which includes but is not limited to: Teachers Pension Fund, Credit Suisse, Goldman Sachs Whitehall Funds, KBS Partners and a high-profile hedge fund.
We have created a competitive advantage through a fully vertically-integrated corporate structure that allows Rockrose to gather information quickly through in-house experts with proven experience in the fields of Leasing, Sales and Marketing, Asset Management, Development, Property Management, Design and Planning, Finance, Legal and Construction. These departmental specialties give us an edge with which few other NYC development firms can compete, and allow us to do in-depth project due diligence quickly and thoroughly. This includes analysis of leases, environmental issues, legal concerns, construction issues, management agreements, debt and equity structures, tax guidance and planning concerns.
Rockrose Development Corp. announced the "Top Three" results of a competition with Interior Design students at the Fashion Institute of Technology (FIT), in which 40 students submitted designs for three different model studio apartments at Rockrose's new luxury rental ...