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Delshah's distressed debt strategy hits a road bump as court dismisses two foreclosure suits

Posted On: May 24, 2019   |   Posted By: The Real Deal New York

You win some, you lose some. Michael Shah's Delshah Capital, which made a series of distressed-debt plays in the summer of 2017, saw two of them fall through this week when the New York County Supreme Court dismissed a pair of foreclosure lawsuits against Jack Terzi's JTRE Holdings. Delshah acquired mortgage notes on two JTRE retail condos, at 31 East 28th Street and 27 West 72nd Street in Manhattan, at face value for a total...

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