Kasa Living, Inc. Partners with New York-based Delshah Capital to Open Second Property in Manhattan
20 new Kasas arrive in the coveted Lower East Side neighborhood
NEW YORK, Dec. 6, 2022 /PRNewswire/ -- Kasa Living, Inc., a tech-enhanced, flexible accommodations brand and operator, will soon welcome a new property to its portfolio. Kasa Lantern LES opens December 12, 2022. New York-based Delshah Capital owns the property, which it acquired in February 2021.
Situated in the heart of Manhattan's Lower East Side, Kasa Lantern LES will bring 20 new Kasas to 120 Allen Street, a recently constructed "aparthotel," thoughtfully designed by New York City design firm Grzywinski+Pons to pay homage to the neighborhood's tenement block origins.
With generously sized rooms showcasing high-end finishes and a residential appeal, more than half of the Kasa's will feature a kitchen or kitchenette, and all will include Vertuo Nespresso machines, luxurious linens, and ultra-fast Wi-Fi. Select Kasa penthouses boast sweeping city views and private outdoor terraces. The building's lower levels host Ye's Apothecary, an intimate tapas and speakeasy bar serving modern Szechuan cuisine and inventive, herbal-infused cocktails.
Like all Kasas, the property will feature online check-in, a Virtual Front Desk, and smart locks allowing guests to enjoy a seamless travel experience from the moment they arrive. Kasa's guest experience team is available 24/7 via text, chat, or phone.
Kasa is partnering with Delshah Capital, a vertically integrated real estate private equity and asset management firm, to bring Kasa Lantern LES to life. "We're excited to partner with Kasa to usher in an exciting new chapter for this special property," said Michael Shah, CEO of Delshah Capital. "Given the continued rise in digital nomads and remote working, Kasa's flexible residential operating model is a great fit for Manhattan's hip Lower East Side, where young professionals and creatives want to work and play. I am excited to take this first collaboration with Kasa and hope it leads to more."
"The Lower East Side has long been one of New York's most vibrant and youthful neighborhoods, and a beacon for the modern traveler. We're enthusiastic for the chance to showcase our brand of tech-enabled hospitality in such an exciting and dynamic location," said Roman Pedan, Founder and CEO of Kasa.
For more information about Kasa Lantern LES (120 Allen St, New York, NY 10002), visit www.kasa.com.
Kasa Living, Inc. is a tech-powered, flexible accommodations brand and operator founded in San Francisco in 2016 by Roman Pedan. The company partners with real estate owners to transform units at multifamily and hospitality properties into professionally managed accommodations called Kasas. With its technology and deep industry experience — fortified by professionals who previously drove growth at firms like Airbnb, KKR, and Apollo — Kasa delivers reliable, high-quality experiences to guests of all types. For more information, visit www.kasa.com.
Founded in 2006, Delshah Capital is a vertically integrated private equity real estate and asset management firm with over $1.2 billion assets under management that specializes in acquiring, developing, and managing multifamily, retail and hospitality properties, as well as distressed commercial real estate loans. Based in New York, Delshah Capital has significant experience with multifamily value-add and lease-up business plans over the past 16 years and owns and manages over 300 units in Brooklyn currently out of a portfolio over 2,000 NYC multifamily units. The firm employs a fundamental value-driven approach, with a focus on margin of safety and replacement cost, and expertise in identifying, structuring, and managing real estate investments on behalf of institutional and high-net-worth clients. Learn more at https://www.delshah.com/.
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SOURCE Kasa
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