Thomas Elghanayan Of TF Cornerstone Purchases Waterfront Office Property From Jack Guttman For $174.1M

57 West Street and 24 Oak Street are office properties located in Brooklyn. TF Cornerstone purchased the assets for $174,100,000, which will be part of a larger development initiative, with plans filed for a 1,060-unit mixed-use residential development in November 2025.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $174,100,000
• Buyer: Thomas Elghanayan - TF Cornerstone
• Seller: Jack Guttman - Pearl Realty Management
• Development Plans: 1,060-unit mixed-use residential development
• Transaction Date: 11/12/2025
• Market: Brooklyn

Thomas Elghanayan represents TF Cornerstone in this transaction while Jack Guttman represents Pearl Realty Management. This acquisition will position TF Cornerstone to advance its development plans on Greenpoint’s waterfront.