DELSHAH BUYS APARTMENT BUILDING FOR $11.2M IN COURT ORDERED SALE

NEW YORK — Delshah Capital has purchased 101 W. 126th St. in New York through a New York State Bankruptcy Court ordered sale for $11.2 million. In 2010, a DelShah affiliate purchased the non-performing senior mortgage note for the 32-unit apartment building with a ground-floor commercial space. DelShah was poised to purchase the property in May 2011 when the debtor declared bankruptcy. Delshah was able to reach an agreement with the debtor and junior creditors, resolve the bankruptcy and take the title in only 9 months.