WASHINGTON, DC-New York City-based DelShah Capital has sold one of its last holdings in the city and is marketing its final asset--the Embassy of Georgia on Embassy Row. When that sale is complete the company will be free to focus on its assets in New York City. That is the purpose of these sales, Rishi Pande, property manager tells GlobeSt.com. "Our core holdings are in New York City—that is where our experience and manpower is. This decision is not so much based on the value of the DC market but rather our strategic direction."

The company sold a condo building in Columbia Heights, located at 2523 13th St. NW to Aria Investment Group for $3.6 million. The building holds 23 units and has been renovated recently. The Greysteel Co. in Bethesda, MD, represented DelShah. Aria Investment Group represented itself in the transaction.

DelShah has also put on the market the Embassy of Georgia building located at 2209 Massachusetts Ave. It, too, is being marketed by Greysteel.

W. Kyle Tangney, director of Greysteel, tells GlobeSt.com that it is looking at selling the 9,000-square foot, five-story building on a net lease basis and price per square foot basis with an asking price of $4.6 million. The government of Georgia has leased the building through 2016 with the provision that either tenant or landlord can give six months notice to vacate. "We have a wide variety of folks interested in and looking at this asset," he says, "from groups from other countries to small individual investors."