Delshah Capital
Delshah Capital is a vertically-integrated NYC real estate private equity and asset management firm founded in 2006, managing roughly $1.2 billion across 50+ properties and 2,000+ multifamily, retail, hospitality, and office units through Core+, Value-Add, and Opportunistic strategies for institutional investors, family offices, and high-net-worth individuals.
- Company typePrivate
- Founded2006
- HeadquartersNew York, United States
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Delshah Capital does
Delshah Capital is a vertically-integrated real estate private equity and asset management firm founded in 2006 and headquartered at 114 East 13th Street in Manhattan. The firm sources, acquires, develops, leases, and manages a New York City-focused portfolio valued at approximately $1.2 billion, encompassing 50+ properties and 2,000+ residential units across roughly 2 million square feet of multifamily, retail, hospitality, and office product. Capital is deployed through three distinct strategies — Core+ (10–12% target IRR, 5–10 year hold), Value-Add (14–16% IRR, 2–5 year hold), and Opportunistic (18–20% IRR, 1–5 year hold) — accessing off-market flow through decade-long lender and broker relationships and selectively taking down distressed debt or foreclosure-position assets at discounts to par or appraised value.
The platform combines a property management and asset management operating layer with an investment team that uses Python-based predictive analytics and ML models for acquisition underwriting and risk assessment, plus internal tools such as automated bank reconciliation. Notable repositionings include 30 Morningside ($113M acquisition, 2016; $150M+ historic tax credit renovation), 22 Chapel (180-unit 70/30 Affordable New York mixed-use delivered 2022), 55 Gansevoort, 130 Orchard, Park Hill, and 777 7th Avenue. Post-2026, the firm is executing alongside institutional JV partners (REALM, A.M. Property Holding) and debt capital from Ares, Prospect Ridge, and Affinius Capital on Williamsburg multifamily and Manhattan office acquisitions.
The firm raises capital directly from institutional investors, family offices, and high-net-worth individuals via its website's 'Invest with us' platform, capturing investor strategy and IRR preferences. Revenue mechanics are not publicly disclosed and consist of management fees, asset and property management fees, and realized gains on disposition, with revenue flowing across the holding company, fund vehicles, and property-level entities.
Delshah Capital firmographics
Firmographics- Name
- Delshah Capital
- Legal name
- Delshah Management, LLC
- Website
- https://delshah.com
- Company type
- Private
- Founded year
- 2006
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Delshah Capital is a vertically-integrated NYC real estate private equity and asset management firm founded in 2006, managing roughly $1.2 billion across 50+ properties and 2,000+ multifamily, retail, hospitality, and office units through Core+, Value-Add, and Opportunistic strategies for institutional investors, family offices, and high-net-worth individuals.
- Ownership category
- akta.pro rank
Delshah Capital industry classification
Industry- Product category
- Commercial Real Estate Investment & Asset Management
- NAICS
- Real Estate Property Managers (53131), Funds, Trusts, and Other Financial Vehicles (525), Other Financial Investment Activities (5239)
- SIC
- Real Estate Dealers (For Their Own Account) (6532), Real Estate Agents & Managers (For Others) (6531)
- akta.pro primary industry
- Real Estate Portfolio & Fund Management (Institutional/REIT/PE) (BPAJAMAJ)
- akta.pro secondary industries
- Capital Markets Advisory (Equity Placement, JV & Recapitalization) (BPAJABAL), Multifamily Brokerage (BPAJABAD), Multifamily Apartment Property Management (BPAJAFAA)
Keywords
Where Delshah Capital is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Delshah Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Marketing or Sales, Infrastructure, Technology or R&D
Revenue model
- Real Estate Investment Returns: Delshah generates returns through appreciation in property values, rental income from multifamily, retail, and hospitality properties, and profit from opportunistic investments in distressed commercial real estate loans and redevelopment projects.
- Asset Management: Vertical-integrated approach includes property management, leasing, and asset management services across the portfolio generating net operating income growth.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Core+ Strategy - Target Return: 10-12% IRR, Target Hold Period: 5-10 Years |
| Other | Multi-year contract | Value-Add Strategy - Target Return: 14-16% IRR, Target Hold Period: 2-5 Years |
| Other | Multi-year contract | Opportunistic Strategy - Target Return: 18-20% IRR, Target Hold Period: 1-5 Years |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels3 records
Delshah Capital product offering
Product offeringCore offering
Delshah Capital is a vertically-integrated real estate private equity and asset management firm that acquires, develops, repositions, and manages commercial and multifamily real estate across New York City. The firm offers three distinct investment strategies—Core+ (10–12% IRR, 5–10 year hold), Value-Add (14–16% IRR, 2–5 year hold), and Opportunistic (18–20% IRR, 1–5 year hold)—targeting institutional investors, family offices, and high-net-worth individuals seeking NYC real estate exposure. It pairs capital deployment with in-house property management, leasing, historic tax credit renovations, and ground-up development across multifamily, retail, hospitality, and office assets.
Product overview
Delshah Capital operates as a vertically-integrated real estate private equity and asset management firm offering investment across three strategies: Core+ (10-12% IRR target, 5-10 year hold), Value-Add (14-16% IRR target, 2-5 year hold), and Opportunistic (18-20% IRR target, 1-5 year hold). The firm manages a portfolio of properties including 30 Morningside (luxury rental), 22 Chapel (affordable multifamily), Park Hill (Section 8 housing), 130 Orchard (mixed-use residential/retail), 55 Gansevoort (hospitality/retail), and 777 7th Avenue (commercial retail).
Differentiator
Problem solved
Functional benefit
Products and services
- Core+ Real Estate Investment Strategy A lower-volatility NYC real estate investment strategy targeting 10–12% IRR over a 5–10 year hold by acquiring stabilized or pre-lease-up but undermanaged assets and applying minimal capital improvements to capture rent growth and occupancy gains. Designed for institutional investors, family offices, and high-net-worth individuals seeking stable, risk-adjusted NYC real estate exposure.
- Value-Add Real Estate Investment Strategy A middle-risk NYC real estate investment strategy targeting 14–16% IRR over a 2–5 year hold by acquiring under-managed, well-located assets and applying active asset management plus focused capital improvements to lift net operating income. Geared to investors willing to accept higher vacancy and significant capex in exchange for higher target returns.
- Opportunistic Real Estate Investment Strategy A higher-risk NYC real estate investment strategy targeting 18–20% IRR over a 1–5 year hold through ground-up development, heavy value-add repositionings, and acquisitions of non-performing loans and distressed debt instruments. Designed for investors comfortable with redevelopment risk, litigation overhang, and outsized return potential.
- 30 Morningside Property Investment A 265,000-square-foot, nine-story luxury rental building with 205 residential units overlooking Morningside Park, adjacent to Columbia University and Mount Sinai Morningside hospital. A Value-Add strategy property acquired in 2016 for $113 million, repositioned through historic tax credit renovation of four Ernest Flagg-designed landmarked pavilions with over $150 million of capital improvements.
- 22 Chapel Property Investment A 192,000-square-foot, 21-story new construction mixed-use property in Downtown Brooklyn with 180 residential units (125 market rate and 55 affordable under the 70/30 Affordable New York program), retail, parking, and community facility space. A Core+ strategy property acquired in 2018 and delivered to market in Q2 2022, benefiting from a 35-year 421a tax abatement and Qualified Opportunity Zone location.
- Park Hill Property Investment A 1.1-million-square-foot portfolio of eight six-story buildings containing 1,117 residential units in Staten Island, operated under HUD project-based Section 8 Housing subsidies. A Value-Add strategy asset acquired in 2018 as part of a 28-property portfolio for $102 million.
- 130 Orchard Property Investment A six-story elevator building in the Lower East Side with 18 residential units and 4 combinable retail spaces. A Value-Add strategy property acquired in August 2015 for $28 million for renovation and repositioning.
- 55 Gansevoort Property Investment A five-story mixed-use building in the Meatpacking District with a long-term lease to Restoration Hardware. An Opportunistic strategy property acquired in March 2012 through distressed-debt acquisition of the first and second mortgages and judgment lien for $22.0 million, a 22% discount to the combined $28.3 million par value.
- 777 7th Avenue Property Investment A 22,450-square-foot commercial condominium in the Times Square submarket, previously occupied by TGI Fridays and other food tenants. An Opportunistic strategy property acquired in February 2021 via pre-packaged foreclosure for $23.5 million—a 15% discount to the defaulted loan balance and a 51% discount to its September 2019 third-party appraised value—and currently being repositioned for a national food and beverage operator.
Companies that use Delshah Capital
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles2 records
Delshah Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability1 record
Feature1 record
Delshah Capital partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and major.
- REALMcoreJoint venture partnership for acquisition of CitySpire, a 377,000-square-foot Class A office condominium at 156 West 56th Street in Midtown Manhattan. Acquisition at 8.5% cap rate, 98% occupied with $22 million in capital improvements.
- A.M. Property Holding CorpcoreJoint venture partner in CitySpire acquisition along with REALM and Delshah Capital.
- CetraRuddycoreArchitectural firm partnership for 30 Morningside historic tax credit renovation and multifamily conversion, working with Delshah to redesign and integrate historic pavilion spaces.
- Titanium ConstructioncoreMaster builders partnership for 30 Morningside comprehensive renovation and repositioning project involving $150 million capital investment.
- Nancy PackesmajorLeasing expert partnership for 30 Morningside repositioning and lease-up of the luxury rental property.
Scale indicators6 records
Recent moves6 records
Expansion highlights5 records
Delshah Capital competitors and assessment
Company assessmentDirect peers
- Taconic Investment Partners: NYC-based vertically integrated real estate PE firm investing in value-add and opportunistic multifamily, office, and mixed-use assets. Closest comparable: similar NYC focus, similarly sized AUM, and similar JV-based approach to acquisitions.
- Meadow Partners: NYC-focused real estate PE manager pursuing opportunistic and value-add strategies across residential, office, and retail. Directly comparable in geography, strategy mix, and transaction size band.
- A&E Real Estate: NYC multifamily owner-operator with vertically integrated property management. Comparable business model: multifamily concentration, value-add repositioning, in-house asset management.
- The Praedium Group: NYC-based multifamily-focused real estate PE manager pursuing value-add strategies. Direct comparable on asset class (multifamily) and strategy type (value-add).
- Atlas Capital Group: NYC-focused real estate investment and asset management firm with multifamily and mixed-use portfolio. Comparable scale, asset mix, and local-market operating model.
- Round Hill Capital: Real estate investment manager focused on residential and student housing in gateway cities including NYC. Comparable multifamily/rental housing orientation with institutional LP base.
- Hudson Realty Capital: NYC-based real estate PE firm investing in opportunistic and value-add deals, often via distressed debt and discounted acquisitions. Comparable opportunistic strategy and discount-sourcing playbook.
Broad incumbents
- Blackstone Real Estate: Largest global RE PE manager with NYC multifamily, office, and hospitality exposure (incl. AIR Communities, Paramount). Overlaps in asset class and geography but operates at vastly larger scale.
- Brookfield Asset Management - Real Estate: Global RE PE platform with NYC office and multifamily holdings. Broadly comparable product offering (Core+, Value-Add, Opportunistic) but at much larger scale and with full-stack capabilities.
- Starwood Capital Group: Global RE PE manager with multifamily, office, and hospitality focus. Comparable asset class mix; meaningfully larger scale and broader geographic footprint.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Delshah Capital social profiles
Digital presenceDelshah Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Delshah Capital leadership team
Management profileNumber of profiles
Profiles2 records
Delshah Capital funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Delshah Capital M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Delshah Capital
What does Delshah Capital do?
Delshah Capital is a vertically-integrated real estate private equity and asset management firm that acquires, develops, repositions, and manages commercial and multifamily real estate across New York City. The firm offers three distinct investment strategies—Core+ (10–12% IRR, 5–10 year hold), Value-Add (14–16% IRR, 2–5 year hold), and Opportunistic (18–20% IRR, 1–5 year hold)—targeting institutional investors, family offices, and high-net-worth individuals seeking NYC real estate exposure. It pairs capital deployment with in-house property management, leasing, historic tax credit renovations, and ground-up development across multifamily, retail, hospitality, and office assets.
Is Delshah Capital a public or private company?
Delshah Capital is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Delshah Capital founded?
Delshah Capital was founded in 2006. It employs 51 to 100 people.
Where is Delshah Capital based?
Delshah Capital is headquartered in New York, United States, in the North America region.
How does Delshah Capital make money?
Two revenue lines are on record. Real Estate Investment Returns are the primary driver. The others are asset Management.
Who are Delshah Capital's main competitors?
Direct peers on record are Taconic Investment Partners, Meadow Partners, A&E Real Estate, The Praedium Group, Atlas Capital Group, Round Hill Capital and Hudson Realty Capital. Broad incumbents are Blackstone Real Estate, Brookfield Asset Management - Real Estate and Starwood Capital Group.
Does Delshah Capital have an API?
No public API is recorded for Delshah Capital.
What industry is Delshah Capital in?
Delshah Capital's product category is Commercial Real Estate Investment & Asset Management. Its primary akta.pro industry code is BPAJAMAJ, Real Estate Portfolio & Fund Management (Institutional/REIT/PE), with a secondary code of BPAJABAL, Capital Markets Advisory (Equity Placement, JV & Recapitalization). Its NAICS code is 53131 and its SIC code is 6532.