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Home News CRE

Rockrose Instills Confidence In New York’s Office Market With $145 Million Deal

Rockrose Development has purchased the remaining stake in an East 26th Street office building in NoMad, asserting its confidence in New York City’s office market.

Aayat AlibyAayat Ali
January 6, 2022
in CRE
Reading Time: 1 min read
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Rockrose Instills Confidence In New York Office Market With 145 Million Deal

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Rockrose Development will take over a NoMad building, solidifying its confidence in the city’s office market. 

The firm initially held a 50% stake in the 11 East 26th Street office building. Now, it has purchased the remaining stake from managing agent Adam & Company in a deal that is valued at $145 million. 

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Now, the building is valued at around $275 million. 

“Rockrose had a vision for the building that was the highest and best use for the building, so we did an off-market deal,” said David Levy, principal of Adams & Company.  

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In addition to a fitness center and rooftop deck, Rockrose wants to incorporate a new office complex with the help of interior design firm Vocon as part of its revamp of the building.

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Source: The Real Deal
Tags: CRE
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Aayat Ali

Aayat Ali

Aayat is an editor for the Daily Digest based in Lexington, Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces.

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