Delshah Capital Acquires 34 Berry Street, Expands Into Williamsburg Portfolio as Part of Broader Growth Strategy
NEW YORK, NY, UNITED STATES, April 2, 2026 /EINPresswire.com/ -- Delshah Capital has acquired 34 Berry Street, a 142-unit, market-rate multifamily property in Williamsburg, Brooklyn, from LCOR. The transaction, valued at $76 million, marks a continued expansion of the firm’s footprint in one of New York City’s strongest rental markets and signals Delshah’s broader return to active growth.
The acquisition was brokered by JLL Capital Markets, with an investment sales and advisory team representing the seller led by Jeffrey Julien, Rob Hinckley, Steven Rutman, and Ethan Stanton. JLL’s purchaser advisory team, led by Michael Zaremski and Clayton Ross, also advised Delshah in arranging $62.25 million in acquisition financing through institutional lender, Ares.
34 Berry Street is a full-service, mid-rise Class A property featuring a mix of 80 studio apartments, 47 one-bedrooms, and 15 two-bedroom units. Built in 2010, the building offers a best-in-class amenity package, including a 24-hour attended lobby, a landscaped courtyard, a rooftop terrace, and a resident lounge with billiards and ping pong. Delshah plans to further enhance the asset through targeted capital improvements to the lobby, lounge, and common areas, alongside in-unit renovations.
“This acquisition reflects where we are today as a company and the quality of assets that we pursue,” said Michael Shah, Founder and CEO of Delshah Capital. “We’ve taken the time to restructure our balance sheet and strengthen the business, and we are now in a position to grow again with discipline. Williamsburg is a market we believe in long-term, and 34 Berry is exactly the type of asset we want to own. It fits nicely into our portfolio along 30 Morningside Drive and 22 Chapel Street as best in class multifamily offerings.”
Reinforcing this growth, Delshah is pleased to welcome Michael Bacon as Executive Managing Director, Head of Capital Markets & Acquisitions. A Wharton MBA with over 25 years of experience in financial markets and restructurings, Mr. Bacon previously spent 15 years as COO of a prominent international family office in Dubai. His friendship and collaboration with Mr. Shah go back twenty years. Having successfully co-invested with Delshah on several past projects, he joins the firm to spearhead the expansion of the business through strategic partnerships with other family offices and to further broaden Delshah's investment footprint.
The acquisition also aligns with Delshah’s broader investment strategy, including the redeployment of capital through a 1031 exchange following the firm’s sale of Parkhill in Staten Island. In addition to 34 Berry, Delshah is actively advancing a pipeline of acquisitions and developments across New York City, including 227 Grand Street, 618 Bushwick Avenue, and 741 Columbus Avenue, alongside the recently published acquisition of the Office Condominium in the Plaza District’s CitySpire building at 156 W 56th Street.
The firm is also in active negotiations on several additional opportunities in prime Manhattan and Brooklyn submarkets, further reflecting a renewed focus on high-quality assets. Simultaneously, Delshah continues to advance its closing at CitySpire, a cornerstone of its portfolio and its entrance into the Class A office market.
With a restructured balance sheet, fresh dry powder from recent sales and a growing pipeline, Delshah is positioning itself for sustained, long-term growth across New York’s residential, retail and commercial mixed-use markets
About Delshah Capital
Delshah Capital is a vertically-integrated real estate private equity and asset management firm. Founded in 2006, we specialize in acquiring, developing and managing multifamily, retail and hospitality properties, as well as distressed commercial real estate loans. Based in New York, today the firm consists of over 50 professionals within its real estate investment and property management groups. Visit www.delshah.com
About JLL
JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of December 31, 2025. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.
Contact: Juda Engelmayer
Email: Juda@HeraldPR.com
Phone: (212) 220-3898
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