RockroseNY Elghanayan Family Acquires Fort Greene Development Site For $60M

Rockrose Development Corp, owned by the Elghanayan family, has acquired a development site in Fort Greene for the price of $60 million. The property, located at 98 Dekalb Avenue & 104 Dekalb Avenue, is a development site with a buildable square footage (BSF) of 195,842. The purchase price per buildable square foot (PPBSF) amounts to $306.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $60,000,000
• Address: 98 Dekalb Avenue & 104 Dekalb Avenue
• Market: Fort Greene

The sale was brokered by Bob Knakal and Stephen Palmese from JLL. The seller, Barnes-Kotler Ford, was represented by Robert Kotler. The transaction took place on January 21st, 2020.

It is worth noting that additional air rights may contribute to the land acquisition costs, potentially increasing the total amount to $75 million.