Delshah Capital, OTL Enterprises Break Ground on 166,976 SF Mixed-Use Project in Brooklyn

Healthcare and drug treatment provider START Treatment & Recovery Centers will occupy 15,000 square feet of office space within the tower.

JV Breaks Ground on Brooklyn Mixed-Use Project

Developed by START Treatment & Recovery Centers, Delshah Capital and OTL Enterprises, the 20-story will offer 180 housing units, as well as office, retail and community space.

START Treatment & Recovery Centers, Delshah Capital and OTL Enterprises Press Release

Brooklyn, NY (August 13, 2019)–Joint-venture partners START Treatment & Recovery Centers, Delshah Capital and OTL Enterprises today launched the first phase of construction for 22 Chapel Street—a residential tower that will contain START’s headquarters and bring more affordable housing to Downtown Brooklyn—with a ceremonial groundbreaking.

The Plan: St. Luke’s Hospital Conversion in Morningside Heights

St. Luke’s Hospital in Morningside Heights, designed by Ernest Flagg in 1896, with its four pavilions surrounding a courtyard and a carriage house at the center, became the standard for hospitals throughout the nation.

Here’s what the $20M-$30M NYC investment sales market looked like last week

New York City investment sales transactions in the $20 million to $30 million range included the sale of two Williamsburg properties to Asana Partners.

Shah Closes $34M Investment for Morningside Heights Rental Complex

Michael Shah’s Delshah Capital has closed on a $34 million piece of financing for the conversion of a former hospital in Morningside Heights, Shah confirmed to Commercial Observer.

National Cheat Sheet

TRD reported in late December that bonds issued by Delshah Capital, Extell Development and GFI Real Estate Limited were trading a 20 percent above yields, while Barry Sternlicht’s Starwood West and Yoel Goldman’s All Year Management were selling for less than 60 cents on the dollar.

Delshah Seals $103M Construction Financing for Brooklyn Luxury Rental Tower

Bank OZK provided a $62 million senior loan in the deal, with EverWest Real Estate Partners providing a $40.5 million mezzanine loan.

Delshah makes multifamily play in East Village

Delshah Capital is making another multifamily play, buying an East Village rental property for $25.2 million.

Delshah Capital closes on 28 Property Portfolio for $102 million

Delshah Capital has closed on its acquisition of a Brooklyn-centric 28-property package from Silvershore Properties for $102 million, according to records filed with the city today.