Back in the spring, the three brothers who owned Rockrose Development Corp. decided to split it in two because they had different visions for the company. The oldest brother hung on to the Rockrose name, while the younger two chose to hang out their shingle under the name TF Cornerstone. When it comes to family property feuds like these, we're usually there faster than a shark to blood. Scandal! Blowout fights! Large sums of money! But it turns out the Elghanayan brothers were boringly civil about the whole thing. Instead of a protracted custody battle over luxury rentals like 2 Gold Street, they divvied up their empire with a coin toss. Now, the TF Cornerstone website is live and the results of the toss are officially in. TF Cornerstone ended up with 99 John Street, 455 and 505 West 37th Street, 2 Gold Street, 45 Wall Street, and others. Rockrose is hanging on to 200 Water Street and The Archive, among others. Given the goings on at 200 Water -- not to mention 2 Gold -- we're thinking the youngins in the family got the better end of the deal.
· A Coin Toss Helps Divide the Elghanayans' Property Empire [NYT]
· TF Cornerstone Official Site [tfcornerstone.com]
· Rockrose coverage