(Save the date: RealShare New York comes to the Grand Hyatt, New York, NY, October 9.)

NEW YORK CITY-DelShah Capital LLC announced earlier this month that the company took title at 55 Gansevoort St. from GHC NY Corp. after purchasing $30 million of debt on the building. But a competing investment company representing one of GHC’s property trustees is claiming that the title transfer should not have been authorized.

“They are claiming they took title to the building, and we are claiming the deed is invalid,” says Jeffrey Menaged of Orbis Capital Advisors, who tells GlobeSt.com that Orbis entered into a joint venture agreement in April 2012 with Robert Romanoff – one of the property trustees of GHC – to provide the money to pay off the loan on the 26,000-square-foot, five-story property in the Meatpacking District. “Eventually we would take over the building, save it from foreclosure and we were going to put money into the trust so the trust got a little something for their trouble instead of losing it to foreclosure,” he adds.