NEW YORK CITY-DelShah Capital LLC, a Manhattan-based investment and debt acquisition firm specializing in distressed assets, has resolved two formerly bankrupt New York City properties in Harlem and Midtown, the company announced in a statement. The two sites—101 W. 126th St. and 639 W. 46^th St.—will be repositioned and brought back to the market after the firm successfully worked out the troubled deals.

“Every distressed opportunity is different, and success is defined in different ways,” says Michael Shah, principal and CEO of DelShah Capital, in a statement. “Here are two examples of positive outcomes from bankruptcies completed in the past year in which the end result was ownership of the asset and great returns on our credit investments.”

In Harlem, DelShah purchased the 32-unit multifamily building at 101 W. 126^th St. through a New York State Bankruptcy Court ordered sale for $11.24 million. In 2010, a DelShah affiliate purchased the non-performing senior mortgage note for the apartment building. In May 2011, DelShah purchased the property when the debtor declared bankruptcy. DelShah was able to reach agreement with the debtor and junior creditors, resolve the bankruptcy and take title in nine months, according to the company.