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

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SOLD
$174,100,000

New York

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Office
Sold 11/12/2025
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SOLD

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

57 West Street & 24 Oak Street

See Similar Deals
Office
Sold 11/12/2025
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Office
Transaction Type:Sale

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.

Players

TF Cornerstone
TF Cornerstone
BUYER
JG
Jack Guttman
17 deals$659.9M volume
SELLER
PM
Pearl Realty Management
SELLER

Details

SOLD
IMAGE: Thomas Elghanayan & Jack Guttman DATE: 11/12/2025 ADDRESS: 57 West Street & 24 Oak Street MARKET: Brooklyn ASSET TYPE: Office BUYER: Thomas Elghanayan - TF Cornerstone (@TFCornerstone) SELLER: Jack Guttman - Pearl Realty Management SALE PRICE: $174,100,000 NOTE: TF Cornerstone bought 57 West Street and 24 Oak Street on Greenpoint’s waterfront for $174.1 million from Pearl Realty Management. The sites will anchor a 1,060-unit mixed-use residential development, with plans filed in November 2025.

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