Delshah Capital Buys Three Williamsburg Residential Buildings for $128M: Updated
By Mark Hallum July 1, 2026 11:00 am
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DelShah Capital has purchased three mixed-use residential properties in Williamsburg, Brooklyn, for a total of $127.8 million.
In the first deal, the Michael Shah-led firm bought 227 Grand Street and 456 Grand Street — the latter of which comes with a 421-a tax abatement that doesn’t expire until 2030 — for a combined $85 million, according to property records.
Delshah bought 227 Grand from an affiliate of Hutton Capital, while the firm acquired 456 Grand from Bronstein Properties, which paid $43 million for the building in 2018, records show.
456 Grand, which has 52 apartments, two retail spots and 50 parking spaces, sold for $39 million, while 227 Grand, which has 41 apartments, 10 retail slots and 21 spaces for parking, sold for $45.8 million, according to records. The two properties are half a mile apart, but separated by the Brooklyn-Queens Expressway and the onramps to the Williamsburg Bridge.
“Bronstein Properties is a three-generation, family-owned business that has owned and operated multifamily housing in New York City for more than 60 years,” a spokesperson for Bronstein said in a statement. “We were pleased to own and operate 456 Grand Street since 2018 and, after careful consideration, determined that this transaction was appropriate as part of our ongoing portfolio management strategy.”
In the final part of the deal, Delshah purchased 452 Keap Street, a five-story, 47-unit residential property, for $43 million from Parkview Management.
Aaron Jungreis, Ben Khakshoor, Alex Fuchs, and Eli Shayestehpour of Rosewood Realty Group negotiated the sales on behalf of both the buyer and the seller.
The purchase was financed with a $60.5 million loan from Prospect Ridge. It was unclear what the buyer’s plans for the property are. Delshah and Prospect Ridge did not immediately respond to requests for comment.
JLL‘s Michael Zaremski and Clayton Ross arranged the acquisition financing on behalf of Delshah.
The building at 456 Grand was constructed in 2015 under New York City’s PlaNYC Brownfield Cleanup Program.
Update: This story has been updated to include the final property part of Delshah’s purchase.
Mark Hallum can be reached at mhallum@commercialobserver.com.
