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Delshah Capital
Delshah Capital is a real estate investment and development firm with roughly $500 million in assets. Owner Michael Shah founded the firm in 2006 after deciding a career as a lawyer wasnt for him. Taking a cue from his parents, Shah invested in the burgeoning affordable housing market, taking on complexes in Staten Island, and later purchased defaulted mortgages from regional banks for properties in Brooklyn and Queens. After the recession hit, the firm began to hone its focus on retail space in the Meatpacking District. Delshah would focus on that area in the following years, working with the Department of Buildings to renovate existing spaces to bring more retail into the neighborhood, including Urban Outfitters. The firm also has ownership of several restaurants and bars around the city, including Sons of Essex on the Lower East Side. Delshah has turned its eyes to the Lower East Side, buying a historic building there in 2015.
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01/04/19
...reported in late December that bonds issued by Delshah Capital, Extell Development and GFI Real Estate Limited were trading a 20 percent above yields, while...
01/03/19
...in Brooklyn and Michael Shah (Credit: CityRealty and Delshah Capital)
Delshah Capital has landed $102.5 million in construction financing for its first ground-up development in...
12/24/18
...bonds from New York-based companies, including Extell Development, Delshah Capital and GFI Real Estate Limited are trading above 20 percent yields, while bonds from Barry...
12/07/18
...urgent care and ambulatory surgery.
9.) 28 Properties Later – $70 million
Delshah Capital received a $70 million loan from Signature Bank for a 28-property portfolio it bought for...
11/05/18
...-533 East 12th Street and Michael Shah
Delshah Capital is making another multifamily play, buying an East Village rental property for $25.2 million.
The...
10/19/18
...Michael Shah and 149 Rivington Street (Credit: Google Maps)
Delshah Capital has closed on its acquisition of a Brooklyn-centric 28-property package from Silvershore Properties for...
09/24/18
...Tamarkin and CL Investment Group's 555 West End Avenue; Delshah Capital...
08/07/18
...Street, Michael Shah and Joseph Moinian (Credit: BuzzBuzzHome, Delshah Capital, and Moinian Group)
Negotiations between the Moinian Group and Michael Shah’s Delshah Capital...
07/10/18
...In one of the bigger tranches, Michael Shah's Delshah Capital agreed to buy 28 of the buildings for north of $100 million in May this year...
06/14/18
...purchase of a Murray Hill rental building and Delshah Capital’s pending $100 million-plus purchase of 28 rental buildings.
In the interview, Schechtman also talked about...
05/21/18
...Rivington Street (Credit: Google Maps)
Michael Shah’s Delshah Capital is is buying a large Brooklyn-centric multifamily portfolio from Silvershore Properties for just over...
04/24/18
...over the hotel years ago with Michael Shah's DelShah Capital, which was trying to take over the property after acquiring a defaulted $8 million mortgage...
03/29/18
...citywide with 3.64 million square feet across 14 projects, including Delshah Capital and OTL Enterprise’s 22 Chapel Street in Brooklyn and Nathan Berman’s 20 Broad Street...
03/28/18
...citywide with 3.64 million square feet across 14 projects, including Delshah Capital and OTL Enterprise’s 22 Chapel Street in Brooklyn and Nathan Berman’s 20 Broad Street...
03/28/18
...citywide with 3.64 million square feet across 14 projects, including Delshah Capital and OTL Enterprise’s 22 Chapel Street in Brooklyn and Nathan Berman’s 20 Broad Street...
03/23/18
...citywide with 3.64 million square feet across 14 projects, including Delshah Capital and OTL Enterprise’s 22 Chapel Street in Brooklyn and Nathan Berman’s 20 Broad Street...
03/22/18
...citywide with 3.64 million square feet across 14 projects, including Delshah Capital and OTL Enterprise’s 22 Chapel Street in Brooklyn and Nathan Berman’s 20 Broad Street...
...citywide with 3.64 million square feet across 14 projects, including Delshah Capital and OTL Enterprise’s 22 Chapel Street in Brooklyn and Nathan Berman’s 20 Broad Street...
02/12/18
...building on the market for $12.5 million.
2. Michael Shah's Delshah Capital acquired an apartment building on the Lower East Side from investor Michelle Goldstein for...
02/06/18
...Co-founder Charlie Oshman jumped to Michael Shah’s Delshah Capital in 2016, the same year in which another co-founder, Guillermo Sanchez, left. Aviva Fink, formerly...
01/31/18
...left: 100 Christopher Street, Michael Shah and Jack Jaffa
Delshah Capital claims an expeditor failed to take care of violations at a West Village apartment...
01/31/18
...on Morningside Drive - $130 million
Michael Shah’s Delshah Capital secured a $130 million construction loan for its 205-unit residential conversion of a medical building...
01/18/18
...and South Florida, including a $96 million loan to Delshah Capital which has not yet closed.
In the early days, Israeli bondholders were skittish about...
01/04/18
...largest, a $95.5 million loan to Michael Shah’s Delshah Capital is still in final negotiations.
For the Delshah deal, Moinian will provide both senior...
12/01/17
...s Adelaide Polsinelli, Zar Property’s David Zar, Delshah Capital’s Michael Shah, Magnum Real Estate’s Ben Shaoul, DH Property’s Dov Hertz...
Delshah Capital, Principal
114 East 13th Street, New York, NY
114 East 13th Street, New York, NY
Michael Shah is a New York City-based lawyer, real estate investor, restaurateur and...
- Event Financing
- Address 22 Chapel Street
- Neighborhood Downtown Brooklyn
- Borough Brooklyn
- Price $ 102,500,000
- Publication Date 01/06/2019
- Event Date 01/02/2019
- Party 1 Delshah Capital
- Party 2 Bank OZK, EverWest Real Estate Partners
notes
The owner secured a loan of $102.5 million for the Downtown Brooklyn property.
- Event Sales
- Address 219 13th Street
- Neighborhood Park Slope
- Borough Brooklyn
- Square feet 22,001
- Price $ 103,200,000
- Publication Date 10/22/2018
- Event Date 10/18/2018
- Party 1 Silvershore Properties
- Party 2 Delshah Capital
notes
The buyer purchased the Brooklyn portfolio for $103.2 million.
- Event Sales
- Address 808 Prospect Place
- Neighborhood Crown Heights
- Borough Brooklyn
- Price $ 101,700,000
- Publication Date 10/01/2018
- Event Date 09/21/2018
- Party 1 Silvershore Properties
- Party 1 Brokerage Meridian Capital Group
- Party 1 Broker Rich Velotta, Abie Kassin
- Party 2 Delshah Capital
- Party 2 Brokerage Meridian Capital Group
- Party 2 Broker Rich Velotta, Abie Kassin
notes
The buyer bought the Crown Heights portfolio for $101.7 million.
- Event Financing
- Address 808 Prospect Place
- Neighborhood Crown Heights
- Borough Brooklyn
- Price $ 88,000,000
- Publication Date 10/01/2018
- Event Date 09/21/2018
- Party 1 Delshah Capital
- Party 1 Brokerage Meridian Capital Group
- Party 1 Broker Simon Rosenfeld, Rael Gervis, Craig Berger
- Party 2 Signature Bank, CCRE
notes
The lender issued an acquisition loan of $88 million for the Crown Heights portfolio.
- Event Financing
- Address 138-140 Ludlow Street
- Neighborhood Lower East Side
- Borough Manhattan
- Square feet 18,180
- Price $ 14,000,000
- Publication Date 03/13/2018
- Event Date 02/06/2018
- Party 1 Delshah Capital
- Party 2 ACM CRE Fund I
notes
The owner secured a $14 million mortgage for the Lower East Side building.
- Event Sales
- Address 138-140 Ludlow Street
- Neighborhood Lower East Side
- Borough Manhattan
- Square feet 18,180
- Price $ 18,900,000
- Publication Date 03/13/2018
- Event Date 02/06/2018
- Party 1 Trippuka Realty Corp.
- Party 2 Delshah Capital
notes
The buyer acquired the 6-story resi building on the Lower East Side for $18.9 million.
- Event Financing
- Address 30 Morningside Drive
- Neighborhood Morningside Heights
- Borough Manhattan
- Square feet 260,000
- Price $ 60,000,000
- Price per foot $ 230.00
- Publication Date 08/01/2016
- Event Date 06/17/2016
- Party 1 Delshah Capital
- Party 1 Brokerage Eastern Consolidated
- Party 1 Broker Adam Hakim, Sam Zabala
- Party 2 Bank of the Ozarks
notes
The company secured a $60 million mortgage loan.
- Event Sales
- Address 221-225 West 17th Street
- Neighborhood Chelsea
- Borough Manhattan
- Price $ 26,400,000
- Publication Date 07/01/2014
- Event Date 05/17/2014
- Party 1 Doreen Interiors
- Party 1 Broker Hall Oster, Brock Emmetsberger
- Party 2 Delshah Capital LLC
- Event Sales
- Building Name 221-225 West 17th Street
- Address 225 West 17th Street
- Neighborhood Chelsea
- Borough Manhattan
- Square feet 33,000
- Price $ 26,400,000
- Price per foot $ 800.00
- Publication Date 07/01/2014
- Event Date 05/22/2014
- Party 1 Doreen Interiors
- Party 1 Brokerage Massey Knakal Realty Services
- Party 1 Broker Hall Oster, Brock Emmetsberger
- Party 2 Delshah Capital
notes
The property sold for $26.4 million, or $800 per square foot. 33,000 sf office bldg
- Event Financing
- Address 1356 First Avenue
- Neighborhood Upper East Side
- Borough Manhattan
- Publication Date 07/01/2014
- Event Date 05/22/2014
- Party 1 Delshah Capital
- Party 1 Brokerage Meridian Capital Group
- Party 1 Broker Simon Rosenfeld
- Party 2 Santander Bank
- Party 2 Brokerage Meridian Capital Group
- Party 2 Broker Simon Rosenfeld
notes
An $11.5 million loan was provided to refinance the property. 26-unit apartment building.
- Event Sales
- Address 163 West 80th Street
- Neighborhood Upper West Side
- Borough Manhattan
- Price $ 7,650,000
- Publication Date 06/01/2014
- Event Date 04/22/2014
- Party 1 Delshah Capital
- Party 1 Brokerage Ariel Property Advisors
- Party 1 Broker Howard Raber, Randy Modell, Scot Hisrchfield
- Party 2 Yu Far Realty
notes
The property sold for $7.65 million.
- Event Sales
- Address 100-102 Christopher Street
- Neighborhood West Village
- Borough Manhattan
- Square feet 21,849
- Price $ 26,750,000
- Price per foot $ 1,224.31
- Publication Date 12/01/2013
- Event Date 10/22/2013
- Party 1 Stone Street Properties
- Party 2 DelShah Capital LLC
notes
The 21,849 sf property sold for $26.75 million.
- Event Sales
- Address 902-908 Bedford Avenue
- Neighborhood Bedford-Stuyvesant
- Borough Brooklyn
- Price $ 18,200,000
- Publication Date 11/01/2013
- Event Date 09/17/2013
- Party 1 DelShah Capital
- Party 2 Springhouse Partners
- Event Sales
- Address 195 and 231 Steuben Street
- Neighborhood Park Hill
- Borough Staten Island
- Price $ 27,000,000
- Publication Date 10/01/2013
- Event Date 08/17/2013
- Party 1 DelShah Capital
- Party 1 Brokerage Dane Professional Consulting Group
- Party 2 Arker Companies
- Party 2 Brokerage Dane Professional Consulting Group
- Event Sales
- Address 69 Gansevoort Street
- Neighborhood West Village
- Borough Manhattan
- Square feet 2,950
- Price $ 6,500,000
- Price per foot $ 2,203.39
- Publication Date 10/01/2013
- Event Date 08/22/2013
- Party 2 DelShah Capital
notes
The property sold for $6.5 million. There are an additional 7,160 square feet of air rights for future development.
- Event Sales
- Address 58-60 Ninth Avenue
- Neighborhood West Village
- Borough Manhattan
- Price $ 18,200,000
- Publication Date 05/01/2013
- Event Date 03/17/2013
- Party 1 Icon Realty Management
- Party 1 Broker David Schechtman
- Party 2 DelShah Capital LLC
- Event Sales
- Building Name 58-60 Ninth Avenue
- Address 60 Ninth Avenue
- Neighborhood Chelsea
- Borough Manhattan
- Square feet 10,839
- Price $ 18,200,000
- Price per foot $ 1,679.12
- Publication Date 05/01/2013
- Event Date 03/22/2013
- Party 1 Icon Realty Management
- Party 1 Brokerage Eastern Consolidated
- Party 1 Broker David Schechtman
- Party 2 DelShah Capital LLC
notes
The property sold for $18.2 million. Located across the street from an Apple Store, the space is currently home to Pop Burger, which will be closing in the near future.
- Event Sales
- Address 31-32 Union Street
- Neighborhood Flushing
- Borough Queens
- Price $ 3,500,000
- Publication Date 02/01/2012
- Event Date 12/18/2011
- Party 1 DelShah Capital
- Party 2 Queens Borough Public Library
- Event Sales
- Address 1356 First Avenue
- Neighborhood Upper East Side
- Borough Manhattan
- Price $ 9,130,000
- Price per foot $ 456.00
- Publication Date 10/01/2011
- Event Date 08/22/2011
- Party 1 Brokerage Corcoran Group
- Party 1 Broker Guthre Garvin, Massey Knakal, Joan McLaughlin,
- Party 2 DelShah Capital LLC
notes
The property sold for $9.13 million, or about $456 per square foot. The building has a retail unit, which is occupied by Italian restaurant Petaluma.
Manhattan, 10027
DELSHAH 321 LENOX LLC
DELSHAH 321 LENOX LLC
321 Lenox Avenue is a 23,746 square foot property built in 1910 in...
Manhattan, 10011
DELSHAH 60 NINTH LLC
DELSHAH 60 NINTH LLC
58 Ninth Avenue is a 10,294 square foot property built in 1920 in...
Manhattan, 10013
Delshah Capital, 22 RENWICK STREET ASSOCIATES LLC
Delshah Capital, 22 RENWICK STREET ASSOCIATES LLC
The sponsor(s) filed plans on 07/17/06 for a condo project at 22 Renwick...
Manhattan, 10025
DELSHAH CAPITAL, DELSHAH CAPTIAL, LLC
DELSHAH CAPITAL, DELSHAH CAPTIAL, LLC
This property is a new development. The developer(s) filed plans in July of...
Manhattan, 10011
Otl Enterprises, 221 W. 17TH STREET LLC
Otl Enterprises, 221 W. 17TH STREET LLC
The sponsor(s) filed plans on 05/19/15 to test the market with a project...
07/11/16
...for 96 years.
22 Chapel Street, Brooklyn
Michael Shah’s Delshah Capital and John Carson’s OTL Enterprises filed plans last month to build a 150,431-square-foot...
...property at 55 Gansevoort through a friendly foreclosure to DelShah Capital. However, his son Robert and other investors are currently contesting the transfer in civil...
Manhattan, 10025
DELSHAH CAPITAL, DELSHAH CAPTIAL, LLC
DELSHAH CAPITAL, DELSHAH CAPTIAL, LLC
This property is a new development. The developer(s) filed plans in July of...
