NEW YORK CITY—Locally-based Delshah Capital has acquired a storied six-story walkup property on the Lower East Side from Trikupa Realty, a Florida-based real estate investment firm, for $18.9 million.
Delshah Capital reports it plans to embark on a capital improvement program at the 138 Ludlow St. property that currently features 27 rental apartments and retail space on the ground floor. The circa early 1900s property includes one, two, and three-bedroom layouts, and two tenants currently occupy the retail space.
The capital improvement program's goal is to unlock the property's value similar to other projects launched at several of its other Lower East Side properties. The program calls for the addition of luxury finishes to the building and the individual apartment units.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
