Delshah Capital sells 163 West 80th Street for $7.65 million

Delshah Capital, LLC has completed the $7.65 million sale of 163 West 80th St. on the Upper West Side to Yu Far Realty, a group of Chinese investors. Howard Raber, Randy Modell and Scot Hirschfield of Ariel Property Advisors represented Delshah. The five-story, 9,624 s/f residential brownstone was converted by Delshah from ten units to five full-floor residences. All five were subsequently rented at market rate. "We purchased the building in 2008 prior to the recession, bought out all the rent stabilized tenants, and implemented an extensive renovation through a very difficult economic climate," said Michael Shah, principal of Delshah. "With the current favorable market conditions, we felt this was an ideal time to sell the property." Located on a tree-lined street between Amsterdam and Columbus and just two blocks from Central Park, 163 West 80th St. has an historic façade with a private roof deck on the fifth floor. Each unit features high ceilings, oversized windows, and high-end finishes including open kitchens with stainless steel appliances and modern bathrooms. While currently operating as a free-market rental property, a condominium declaration has been filed establishing five single residential condominium units within the building.