741 Columbus Avenue
741 Columbus Avenue is a 12,791 SF retail asset on the Upper West Side that transacted at $1,006 per square foot, slightly above the estimated submarket average of approximately $950 PSF, suggesting the buyer paid a modest premium for the asset. The Upper West Side retail corridor along Columbus Avenue benefits from strong foot traffic, dense residential demand, and limited new supply, providing a stable if not high-growth backdrop for retail investment. Pembroke Companies is a credible institutional-grade seller, and the dual-broker representation from RTL Real Estate and Magellan Realty Group reflects a professionally structured disposition. The buyer, Michael Del Shah, has a limited public deal history, introducing modest sponsor risk relative to a more seasoned institutional acquirer. No distress signals, liens, or litigation were identified, and the clean title profile supports a straightforward underwriting thesis at a low-to-mid 4% stabilized cap rate range typical for prime Manhattan retail.
Deal Stats
Parties
Seller / Landlord
Pembroke Companies is a New York-based real estate ownership and development firm with a track record of acquiring and managing retail and mixed-use properties across Manhattan, known for disciplined asset management and strategic dispositions.
Buyer / Tenant
Michael Del Shah appears to be a private real estate investor active in the NYC market with limited publicly available deal history, suggesting an emerging or mid-tier private buyer acquiring opportunistic retail assets on the Upper West Side.
Score Analysis
Why this score
Prime Upper West Side Location
Columbus Avenue benefits from strong foot traffic, dense residential demand, and limited new retail supply, providing stable tenant demand and pricing power.
Institutional-Grade Seller
Pembroke Companies' disciplined asset management and strategic dispositions reduce execution risk and signal a well-maintained asset with clean operations.
Buyer Sponsor Risk
Michael Del Shah's limited public deal history and emerging/mid-tier profile introduces uncertainty around operational capabilities and long-term hold strategy versus a seasoned institutional buyer.
Modest Price Premium to Submarket
The $1,006 PSF price slightly exceeds the ~$950 PSF submarket average, suggesting tight but defensible valuation with limited upside from further appreciation.
Low Growth Retail Profile
Stabilized 4% cap rate and mature retail corridor imply limited value-add or repositioning upside typical of higher-scoring secondary retail opportunities.
How to improve
The following actions could meaningfully improve this deal's Homage score. Each suggestion is based on the deal's profile, asset type, and current rating — addressing them before approaching a lender can increase approval likelihood and lower borrowing costs.
Demonstrate Buyer Track Record
If Michael Del Shah can document 2-3 successful prior retail acquisitions with documented NOI growth or tenant upgrades, confidence would shift from medium to high.
Identify Value-Add Opportunity
Evidence of below-market tenancy, near-term lease roll, or repositioning runway (e.g., vacant space, obsolete tenant) could unlock 50-100 bps of cap rate compression.
Secure Long-Term Anchor Tenancy
Extending or renewing a major tenant lease at above-market rates post-acquisition would reduce vacancy risk and support exit multiple expansion.
Raw Deal Textclick to expand
traded + Submit Growing Financial Partnerships For Over 30 Years. Get Started Home Deals New York Retail Sale 741 Columbus Avenue Share SOLD Michael Del Shah Purchases Retail Asset At 741 Columbus Avenue From Pembroke Companies For $12.875M $12,875,000 $1,006/SF BUILDING SIZE 12,791 SF ASSET TYPE CLOSING Jun 11, 2026 Overview Players Market Deal Summary Caption AI The property involved in this transaction is a retail asset located at 741 Columbus Avenue in the Upper West Side. The sale price of the property was $12,875,000, with a total square footage of 12,791 and a price per square foot of $1,006. Summary of transaction details: Property Type: Retail Transaction Amount: $12,875,000 Address: 741 Columbus Avenue Market: Upper West Side Square Footage: 12,791 Price Per Square Foot: $1,006 Buyer: Michael Del Shah Seller: Pembroke Companies Seller's Representatives: Steven E. Baker, Daniyel Cohen - RTL Real Estate & Michael Goldban - Magellan Realty Group The buyer of the property is Michael Del Shah, while Pembroke Companies served as the seller. The seller was represented in the transaction by Steven E. Baker and Daniyel Cohen from RTL Real Estate, alongside Michael Goldban from Magellan Realty Group, each providing their expertise to facilitate the deal. PLAYERS All Brokers Daniyel Cohen RTL Real Estate BROKER 9 deals Contact Michael Goldban 2 deals Steven E. Baker 10 deals New York Retail Market Snapshot Boundary boundary · Retail · Sale transactions Comps 10 Listings Investors Top Brokers Lenders Toll Brothers Sells Retail Asset At 2686-2690 Broadway For $17.1 Million With Avison Young Rep 8,158 SF · Nov 2024 New York, New York $17,100,000 $2,096/SF 0.4 mi Retail Property At 2710 Broadway In Manhattan Sold For $13,000,010 With CBRE Team 14,700 SF · Jul 2025 $13,000,010 $884/SF Igal Namdar, Jonathan Abda & Jonathan Nazarian Of Namdar Realty Group Acquire Retail Asset In Upper West Side For $9.75M 14,686 SF · Mar 2025 $9,750,000 $663/SF 0.7 mi Sk Development Sells Condo On Madison Avenue For $9.5M 2,543 SF · Dec 2022 $9,500,000 $3,735/SF 0.9 mi Aperture Acquires Property At 380 Columbus Ave New York For $8.95M With Buyer's Rep David Lebenstein Sep 2022 $8,950,000 Wayne Rothbaum Of Quogue Capital Sells Retail Condos At 210 And 221 West 77th Street For $14.4M Sep 2025 $14,400,000 1.0 mi Heritage Realty Sells Retail Property At 1311-1337 Lexington Avenue For $13 Million 5,400 SF · Dec 2025 $13,000,000 $2,407/SF 1.1 mi Aleksandr Finkelshteyn Acquires Retail Building At 2160 Broadway From Sharon Gustafson For $8.5M 8,820 SF · Dec 2024 $8,500,000 $963/SF Aleksandr Finkelshteyn Purchases Retail Asset On Upper West Side From Sharon Gustafson For $8.5M Raghav Bahl Acquires Retail Property In East Harlem, Manhattan For $8.4M 10,420 SF · Aug 2023 $8,400,000 $806/SF 1.2 mi Live MORE DEALS $17.1M $13.0M $9.8M $9.5M $8.9M — · Sep 2022 $14.4M — · Sep 2025 $13M $8.5M $8.4M NEARBY MARKETS NEIGHBORHOODS Long Island City Central Old Astoria Midtown South West Clinton Midtown Lincoln Square Yorkville Upper East Side East Harlem South Central Harlem South Central Harlem North-Polo Grounds Morningside Heights BOROUGHS Staten Island Bronx Queens Manhattan Brooklyn CITIES Paterson Hackensack Bayonne Paramus East Orange Hoboken Newark Clifton Jersey City West New York Linden Fort Lee STATES North Carolina Virginia West Virginia Michigan Massachusetts Pennsylvania Vermont South Carolina New Hampshire District of Columbia New Jersey We are telling CRE's story Traded is the #1 source for cutting-edge CRE transactions & insights. 1M+ DEALS 100K+ USERS 47 MARKETS 1.2M+ FOLLOWERS Browse Closings by State National Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Minnesota Mississippi Missouri Montana Nebraska Nevada New Mexico North Dakota Ohio Oklahoma Oregon Rhode Island South Dakota Tennessee Texas Utah Washington Wisconsin Wyoming Search News Agents Agencies About About Us FAQ Testimonials Help Help Center Pricing Return Policy Follow a feed Nat @traded NY @tradedny MIA @tradedmiami LA @tradedla CHI @tradedchicago BOS @tradedboston DAL @tradeddallas NJ @tradednj 300K+ The Traded Weekly Every major deal & ranking update — Friday mornings. Email © 2026 Traded Media LLC · All rights reserved. Terms & Conditions Privacy Disclaimer Cookie Policy Do Not Sell My Info Acceptable Use