Delshah acquired 130 Orchard Street in August 2015 for $28 million with the objective of renovating and repositioning the Property. 130 Orchard is a six-story elevator building located in a prime area of the Lower East Side and includes 18 residential units and 4 combinable retail spaces on the ground level, in addition to a fully leasable basement. The Property sits on an oversized lot, with 67 feet of frontage on Orchard Street between Delancey and Rivington and significant future redevelopment makes 130 Orchard a prime location on the verge of experiencing outsized residential and retail rental growth relative to the broader Manhattan market.
In addition, the Property’s unique characteristics position it well against competing product, which include a spectacular roof deck, historical building character, vaulted ceiling heights, strong steel and concrete construction, and a large basement capable of housing many building amenities. Following it's acquisition of the Property, Delshah implemented a comprehensive capital improvement plan that consisted of renovating residential units as leases expired and upgrading the building amenities and façade/storefront.