Small stakes in Adams & Company building in Flatiron where Rockrose bought interest sell to two entities for $9.75M

The anonymous entity Newcomb Owner L.L.C. paid $6.6 million for a 4 percent tenant-in-common stake and paid $1.65 million for a 1 percent TIC stake in 44 West 18th Street in Flatiron. Both transactions closed October 18. Another entity, AC 44 W 18 2019 LLC, with an address at Adam & Company, purchased a 1 percent interest from another group for $1.5 million, in a deal that closed on October 22. The Elghanayan family’s Rockrose Development purchased a 4.9 percent tenant-in-common interest in the building for $10.1 million in August. The building is 179,186 square feet.

Over the past five years, there have been 12 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 12 renovation/alteration projects (A2) applied for with a total estimated value of $2,107,925.
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Direct link to the city’s interactive property map, ZOLA. link

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