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Delshah Capital buys five Upper West Side apartment buildings for $36.9M
The deal totals about 148 units across five Manhattan properties, and it marks a more than $20 million discount versus the portfolio’s 2018 sale price.
Delshah Capital, led by Michael Shah, has acquired five residential apartment buildings on New York City’s Upper West Side, according to property records filed Thursday and coverage by Commercial Observer.
The firm paid $36.9 million to Quality Capital USA for buildings located at 3 to 5 West 108th Street and 7 to 9 West 108th Street, and for additional properties at 4, 8, and 10 to 16 Manhattan Avenue. NYC Department of Finance records cited in the report indicate the portfolio includes roughly 48 units in the West 108th Street buildings, along with approximately 99 units in the Manhattan Avenue locations.
Across the acquisition, Delshah’s purchase represents a more than $20 million discount to the portfolio’s prior sale in 2018, when Quality Capital USA paid $57 million across five transactions involving the Orbach Group.
Commercial Observer also noted Delshah has been active this year, including a $128 million purchase of three mixed-use residential properties in Brooklyn’s Williamsburg, a $76 million acquisition of a 142-unit multifamily property there three months earlier, and the February sale of the $364.7 million Park Hill Apartments complex on Staten Island.