Michael Shah Scoops up 138 Ludlow Street in Hell Square

Posted on: January 17th, 2018 at 5:00 am by

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 to hit public records.

We had heard some chatter about the transaction over the last couple weeks, but it was finally confirmed by building residents yesterday. A mailing was distributed from their new landlord about the changeover.

Some are worried about what this means about leases and the prospect (or potential) of any future renovations.

In addition, word on the street is that DelShah’s nightlife arm, the Line Group, might also take over Local 138 on the ground floor. This bar is one of the last rock-and-roll haunts in the neighborhood, and has been around for some twenty years. Designer Dana Foley’s boutique is the other commercial tenant at this address.

Seller of record appears to be Michelle Goldstein of Arwen Equities/Luthien Group. It’s the third building sale for this local landlord since last summer, behind 151-153 Ludlow ($12.5 million) and 101 Stanton Street ($12.9 million).

Recent Stories

Adda Hitmakers to Open Dhamaka in the Essex Market

The team behind critically acclaimed Indian restaurants Rahi and Adda is finally ready to debut their newest venture. Dhamaka joins the new Essex Market as a next generation vendor-restaurant. Owner Roni Mazumdar and partner Chintan Pandya will introduce a menu of everyday Indian foods, such as meat served on the bone and fish served whole. […]

The Fight Against the Two Bridges Towers is Far from Over [OP-ED]

The following editorial was written by the Coalition to Protect Chinatown and the Lower East Side. Councilwoman Margaret Chin would like you to believe the Lower East Side and Chinatown are dead. That she tried courageously to save our community from being demolished by four mega-towers, yet the Appellate court wouldn’t let her prevail. Though, […]

Moscot Heads Uptown with New UWS Store

The Moscot eyewear empire is expanding, pandemic be damned. The multi-generational, family-owned business is headed to the Upper West Side. This news is dispatched just shy of a year from when the spectacle slinger announced a new outpost in Los Angeles. The latest location is scheduled to open this Friday in Lincoln Square (188 Columbus […]

These 3 Developments Threaten to Sever Chinatown Traffic Arteries in the Coming Years [Op-Ed]

As if the climate wasn’t dire enough for Chinatown businesses and residents amidst the pandemic, a proverbial perfect storm is brewing. Long-suffering Chinatown businesses, like much of the city, are encouraged by the loosening of indoor dining restrictions and remain hopeful for a return to some level of normalcy. However, it could be short-lived due […]

Community Lawsuit Halts City’s Chinatown Jail Plans

The Borough-based jail plan hit another major snag this week, with a grassroots lawsuit blocking the proposed Chinatown prison. Neighbors United Below Canal, a community organization, announced yesterday that its lawsuit won an injunction against development of the thirty-story high-rise at 125 White Street. Judge John Kelley ruled in favor of the community, noting that […]