REBusinessOnline

DELSHAH BUYS DEBT ON 22 RENICK ST.

NEW YORK CITY — DelShah Capital has acquired the mortgage debt on 22 Renwick St., a 19-unit condominium with ground-floor commercial space in New York City. The price was not disclosed however, David Schectman and Alan Miller of Eastern Consolidated marketed the property for nearly $25 million. Originally developed by Orange Management, the building went into foreclosure during the economic downturn in 2008. DelShah will finance the remaining construction of the 24,000-square-foot property while investing in upgrades. OTL Enterprises will complete the property build-out.

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