The Real Deal reports that the Beckenstein Building at 130 Orchard St. has been sold to Delshah Capital for $28 million.
The mixed residential and commercial property was previously owned by Soho-based Midway Investors. There’s 28,000 sq. ft. in the historic property, which was occupied by the S. Beckenstein fabric company until it relocated to West 20th St. in 1999.
There are 18 luxury rental units at 130 Orchard St. and 5,000 sq. ft. of ground floor commercial space. According to the blog, the property is set for a retail repositioning, a Delshah statement asserting that it will lead the way for a transformation of Orchard Street. There are four residential units on each floor, except for the sixth floor, which features two penthouse apartments. A condo conversion is a possibility.
One by one, tenants such as Daniel’s Leather and Giuseppe Uomo, have departed 130 Orchard St. in recent months. Tower Brokerage has been advertising a commercial space in the building boasting 3,250 sq. ft. on the ground level and another 2700 sq. ft. in the basement.
As for the new owner, Delshah Capital already has a significant presence on the Lower East Side. He previously invested in 205 Chrystie St. and 133 Essex St., as well as nightlife venues Sons of Essex and Rochelle’s.