Delshah Scoops Christopher Street Building for $27 M.
Al Barbarino Oct. 15, 2013, 10:12 a.m.
DelShah Capital has purchased 100-102 Christopher Street in the West Village for $26.75 million.
Recently renovated units feature new hardwood floors, kitchens with stainless steel appliances, marble baths, and washers and dryers in each apartment, and DelShah plans to complete the work the sellers – Jeffrey Kaye and Robert Morgenstern of Stone Street Properties – had started.
“Our plan is to follow through and complete the renovations with our proven asset management team,” said Michael Shah, Principal of DelShah Capital, in a statement, noting that half of the current free market apartments in the building have not been recently renovated. “The building’s location in the heart of the West Village makes it an ideal location for Downtown renters.”
100-102 Christopher Street also contains three ground floor retail store spaces, occupied by clothing company Rag & Bone. The building also has a virtual doorman and package room.
Mr. Kaye and Mr. Morgenstern of Stone Street Properties, who purchased the building in 2011, recently renovated the lobby, boiler and common hallways.
DelShah 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 store in the Meatpacking District.