DelShah Capital purchases 21,849 s/f mixed-use building for $26.75 million

DelShah Capital, LLC, a full-service real estate debt acquisition, development and management company, closed on 100-102 Christopher St. in the West Village for $26.75 million. The 21,849 s/f, five-story white brick building contains 37 apartments. Recently renovated units feature new hardwood floors, kitchens with stainless steel appliances, marble baths, and washers and dryers in each apartment. The building also has a virtual doorman and package room. There will be 17 one-bedroom residences, 10 two-bedrooms including two with large private balconies, 5 three-bedroom units including one with a backyard, and 2 four-bedroom residences. 100-102 Christopher St. also contains three ground floor retail store spaces, occupied by clothing company Rag & Bone. The sellers were Jeffrey Kaye and Robert Morgenstern of Stone Street Properties, who purchased the building in 2011. Recent work to the property included renovation of the lobby, boiler and common hallways. "Half of the current free market apartments in the building have not been recently renovated. Our plan is to follow through and complete the renovations with our proven asset management team," said Michael Shah, principal of DelShah Capital. "The building's location in the heart of the West Village makes it an ideal location for Downtown renters, and I am very confident that our leasing team at DistinctNY will do a terrific job." DelShah also recently purchased 69 Gansevoort Street located in the heart of the Meatpacking District near the High Line and Standard Hotel; 55 Gansevoort Street, a 20,692-square-foot commercial and retail building immediately adjacent to 69 Gansevoort; and 58-60 Ninth Avenue, situated opposite the Apple Retail Store in the Meatpacking District.