Michael Shah

Michael Shah Spent $19M on this Hell Square Tenement Building

Posted January 19, 2018 at 5:11 am

On Wednesday, we reported that Michael Shah (Delshah Capital) picked up the Hell Square tenement at 138 Ludlow Street. With the transaction now public, it appears the controversial landlord paid $19 million for the property. Spending that kind of coin on a pre-war walkup means one thing. The requisite upscaling to luxury living. “Despite its […]

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Michael Shah Scoops up 138 Ludlow Street in Hell Square

Posted January 17, 2018 at 5:00 am

Fresh off the failed bid to score a liquor license for Dos Cientos, news comes down the pike today about landlord Michael Shah acquiring a Hell Square walk-up building. His DelShah Capital firm reportedly purchased 138-140 Ludlow Street under the shell company “DS 138 Ludlow LLC.” The sale just closed, so final price has yet […]

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SLA Denies License to Controversial Sons of Essex Operator for Allen Street Club

Posted January 12, 2018 at 9:53 am

Controversial landlord-developer Michael Shah and his Line Group nightlife arm were dealt a major blow on Wednesday when the State Liquor Authority denied their proposal for a Mexican nightspot called Dos Cientos. In the works for nearly a year, Shah and his usual suspects had been trying to convert the three-years-vacant Preserve 24 space at the […]

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Streets

Five-Level ‘Galerie Perrotin’ Begins Build-out at Beckenstein Building on Orchard Street

Posted December 27, 2016 at 5:14 am

The historic Beckenstein building on Orchard Street is undergoing a massive retail shift as we speak. You’ll recall that the property was acquired by DelShah Capital in August 2015 for $28 million. Not surprisingly, the old-school vendors that operated here for upwards of a decade didn’t survive the transition. (World Hats moved up the block to […]

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Art

‘Galerie Perrotin’ Announces Massive 5-Level Gallery at Beckenstein Building on Orchard Street

Posted June 14, 2016 at 5:00 am

It looks like that controversial bait-and-switch proposed for the Beckenstein Building (b. 1902) – Orchard Street Social – hit a dead end. Word came down the pike yesterday afternoon that the three-year-old Galerie Perrotin is moving to the Lower East Side (“the city’s most dynamic arts neighborhood”) from the Upper East Side. The Paris-based Galerie Perrotin […]

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Art

Why Michael Shah’s Co-Working Bar ‘Orchard Street Social’ is a Bad Idea for Hell Square

Posted May 13, 2016 at 5:14 am

After sitting vacant for two years, the ground level store at 130 Orchard Street (formerly Daniel’s Leather) is itching to join the Hell Square scene. You’ll recall that the notorious landlord Michael Shah purchased the S. Beckenstein building for $28 million, and now hopes to install some tomfoolery called the Orchard Street Social. Some neighbors […]

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Michael Shah Plans ‘Orchard Street Social’ Co-Working Space and Bar for Beckenstein’s Building

Posted May 3, 2016 at 5:00 am

Stanton Street Social, meet Orchard Street Social.​ Controversial landlord Michael Shah purchased the iconic “Beckenstein Building” at 130 Orchard Street last August for $28 million. The luxury rental property was quickly repositioned as “The Beckenstein,” and teamed up with Samy Mahfar’s Real New York brokerage for leasing. And now Shah is planning nightlife on the 5,000 […]

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DelShah Repositions 130 Orchard Street as ‘The Beckenstein’ After $28M Purchase

Last modified September 1, 2017 at 7:03 pm

The address 130 Orchard Street doesn’t exist anymore. At least not in the eyes of brokers hell-bent on selling all corners of the Lower East Side to the highest bidder. It’s now forever known as the predictable, The Beckenstein, an obvious homage to its roots as a textile factory. (Unclear if permission was obtained from […]

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DelShah Capital Sells 19 Stanton Street to Ariel Soudry for $12M

Posted September 29, 2015 at 5:00 am

Residents of 19 Stanton Street (aka 205 Chrystie) are now in for a “better living” experience. The property just changed hands from one terrible landlord to another. After roughly four years of ownership, Delshah Capital decided to cash out on the investment. Guess he needs to recoup some of the cost from purchasing the Beckenstein’s building […]

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Historic Beckenstein’s Building on Orchard Street Sells for $28M

Last modified August 14, 2015 at 10:52 am

There’s a reason why all the old-school vendors vacated 130 Orchard Street in the past several months. Most recently, World Hats and World Fragrances. They were forced out due to an impending sale. That’s right, the historic Beckenstein’s building just sold for $28 million. Notorious landlord Delshah Capital reportedly purchased the property in an off-market […]

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