Trending

DelShah grabs Chelsea commercial building for $26M

Developer to convert it into 10-story condo complex

221 West 17th Street (Inset: Michael Shah)
221 West 17th Street (Inset: Michael Shah)

Real estate investment firm DelShah Capital bought a six-story commercial building in Chelsea for $26.4 million, according to property records filed with the city today.The 38,710-square-foot property at 221-225 West 17th Street between Seventh and Eighth avenues hit the market for $29.5 million in August. Brokers Brock Emmetsberger and Hall Oster of Massey Knakal Realty Services had the listing.

Doreen Interiors, a manufacturer of upholstery and window treatments, occupies the 5,000-square-foot ground-floor space and has owned the building for more than 20 years. The rest of the structure holds office space.

Sign Up for the undefined Newsletter

DelShah plans to redevelop the site into a 10-story luxury residential condominium with ground floor retail space, according to a spokesperson for the developer. 

Last year, DelShah, led by Michael Shah, picked up a three-story property at 58 Ninth Avenue in the Meatpacking District for $18.2 million from Icon Realty Management, as previously reported.

Recommended For You