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Henry Elghanayan (; born August 2, 1940) is an Iranian-born American real estate developer who co-founded and is the current chairman the Rockrose Development Corporation. New York Times: "Flipping a Coin, Dividing an Empire" by Charles V. Bagli October 31, 2009 Wall Street Journal: 'Nearing the Final Piece of Property Divorce - The Elghanayan Brothers Are Close to Finalizing a High-Profile Business Divorce" By Anjali Athavaley May 27, 2013 The Real Deal: "Estate of Elghanayan family member shops UES resi portfolio - Pair of apartment buildings and development site could fetch $400M or more" By Rich Bockmann June 11, 2015 New York Times: "H. Henry Elghanayan" Interview conducted and condensed by Vivian Marino November 27, 2009
target="_blank" rel="nofollow"> "ELGHANAYAN V. ELGHANAYAN" 190 A.D.2d 449, 453 MILONAS, J. | The document, which was drawn up in Farsi and signed in Teheran, provides that the four older siblings, defendants Aghadjan, Davoud, Nourollah and the late Habib Elghanayan, would each own a 20% share of the business while the three younger brothers, plaintiffs Sion, Ataollah and Nedjatollah Elghanayan, would divide among themselves the one remaining 20% share. In 1945, his father moved the family to Forest Hills, Queens where he made investments in real estate. Forbes: "Elghanayan family" retrieved November 5, 2016
Henry has three brothers: Kamran Thomas (born 1945), Frederick (born 1949), and Jeffrey (born 1955); and one sister, Lili (born 1944). The Real Deal: "K. Thomas Elghanayan" By Lauren Elkies retrieved November 5, 2016 Henry graduated with a B.A. from Hamilton College, an M.B.A. from Columbia Business School, and a J.D. from New York University Law School. Real Estate Board of New York: "H. Henry Elghanayan" retrieved November 5, 2016 While in law school, he worked as a rental real estate agent.
In the 1990s, they expanded throughout New York City, converting office buildings into apartments in the Financial district and pioneering developments on the Queens waterfront in Long Island City and West Side of Manhattan. They diversified their portfolio into metropolitan Washington D.C. after the September 11 attacks.
In August 2008, Henry initiated the dissolving of the partnership. His brothers disagreed with his desire to move the firm more into development rather than renovation and leasing as well as to take on outside partners. They also balked at naming Henry's son, Justin, as successor to the business. They divided the assets into three portfolios and drew straws to determine who would own which portfolio. Henry won the firm's development projects, the right to the Rockrose name, and eight residential buildings with 2,634 apartments. Tom and Fred received the remainder consisting of 5,000 apartments in 13 buildings, the office building portfolio, and their properties in Long Island City and continued on as partners with their new firm TF Cornerstone. The day before they divided their assets, their mother died; the day after, their father died.
Under Henry's management, Rockrose has acquired over $600 million in additional properties in New York City and Washington, D.C., and developed the $300 million apartment building, Linc LIC, in Court Square in Long Island City.
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