Tuesday, November 6, 2018

Report: New owner for 531-533 E. 12th St., the onetime home of the East 12th Party Crew

[EVG file photo]

The seven-story rental building at 531-533 E. 12th St. between Avenue A and Avenue B reportedly has a new owner.

According to The Real Deal, Michael Shah's Delshah Capital paid $25.2 million for the 11-year-old building.

The seller, Zelman Properties, paid $16.6 million for the place in 2012. It had been expected to fetch in the mid-to-high $30 million range.

No. 531-533 has 26 residential units, many of them with outdoor space. According to Streeteasy, monthly rents range between $2,900 to $7,500.

As you may recall, Shah was entangled in a legal battle with Raphael "I will bury you" Toledano over the ownership of 97 Second Ave. (Read how that turned out here.)

And as you also may recall, No. 531-533 received some attention in 2009 for being home to NYU's Delta Phi House/East 12th Party Crew:

531 East 12th Party Crew (Apt 1E)
There are lots of places to party in New York, but few can match the insanity of 531 East 12th Street. If you are tired of going out to bars, come to an apartment with a massive common room filled with multiple pong and flip cup tables.


Gojira said...

Now it's frat garden apartments, and there are a ton of them on 10th between A and B - they all have tables so they can play beer pong at 2 AM, stereos so they can blast amplified music while woo-ing loudly at each other from a distance of 2 feet away, and fire pits so they can be out there in the winter.

noble neolani said...

As a neighbor of this building I recall the first party this frat threw all those years ago, It was Labor Day weekend and I arrived on the block early evening to find a line of about 100 college students waiting to enter this building. I went directly to the apartment the no infamous #1E and told the frat boys they had three choices, 1: shut it down themselves, 2: I call the NYFD because there were too many people inside that apartment and it was a fire hazard, 3: call the police so they could see they were charging minors $15 to enter to drink beer. The chose option #1. Two the frat boys argued with me outside for a while and told me they were part of an NYU fraternity which existed since the mid 1860's They then tried to belittle me telling me they were studying to be lawyers and they had a better education than I did. I finally shut them dow telling them, I had out lawyered them, they lost and I don't talk to losers. This drove them insane but it was too late party over. The next time I saw that attitude and behavior was at the Brett Kavanaugh Supreme Court hearings.

Scuba Diva said...

noble neolani said:

The next time I saw that attitude and behavior was at the Brett Kavanaugh Supreme Court hearings.

Did they try the "I like beer" line on you?

noble neolani said...


No these guys weren't Supreme Court level law students.