DelShah Capital completes purchase and repositioning of Sunrise Terrace Condominiums

According to Michael Shah, principal of DelShah Capital, LLC, the firm has completed the purchase and repositioning of 31-32 Union St., known as Sunrise Terrace Condominiums. This is a new construction, mixed-use property with 17 residential condominium units, seven commercial spaces and on-site parking. DelShah purchased the senior mortgage in 2009, and then worked through a complex foreclosure litigation against five different junior creditors and the previous owner. Distinct New York, an affiliate of DelShah, and Prudential Douglas Elliman are the co-exclusive marketing and sales partners for 31-32 Union Street. They are in the process of rebranding and repositioning the property. The high-end finishes in the building begin with the marble floored lobby and continue into the well-lit boutique hotel style hallways. Units have been finished in a contemporary style with Kohler bathroom fixtures, Whirlpool stainless steel kitchen appliances, Techline kitchen cabinets, wood floors, washer and driers, stone countertops and bathrooms and large windows. Sunrise Terrace is situated in a quiet neighborhood located close to two major parks: the Queens Botanical Gardens and the Kissena Park, yet it is near the vibrant cultural center of Queens with many shops, restaurants, the public library and a major transportation hub. The building has two and three bedroom units ranging in size from 1,000 square to 1,400 square feet all with outdoor spaces, some as large as 310 square feet. The prices range from $439,000 to $652,500 with optional indoor parking spaces. Commercial condos on the ground floor range in size from 650 to 2,400 square feet with access on both Union Street and 31st Drive. They range in price from $229,000 to $899,000. For more information on Sunrise Terrace please contact, Distinct New York at [email protected], 917-373-5974 or www.distinctnyc.com. About DelShah Capital, LLC DelShah Capital, LLC is a full-service real estate and CRE debt acquisition, development and management company that owns and operates 1750 multifamily units as a part of its 2 million square feet commercial real estate portfolio that is spread through the five boroughs of New York City. The company has expertise in identifying, financing, managing and exiting those investments on behalf of institutional clients and for its own portfolio. DelShah specializes in the purchase and foreclosure of non-performing commercial mortgages, including resolving bankruptcies and complex litigation on the acquisition side. The firm integrates rigorous financial and legal structuring with professional real estate asset management. This combination of disciplines makes DelShah Capital a unique operating partner. For more information on DelShah's capabilities please contact, 212-213-8777 or visit www.delshah.com. About Distinct New York Distinct New York is a residential and commercial real estate marketing, sales and leasing company that provides clients with individualized comprehensive market research, positioning and marketing for new developments and existing properties. Their superior sales force then implements these plans to realize maximum return for clients. Distinct's specialty is in developing branding and repositioning strategies for existing assets to grow sales or rental revenue. Distinct New York offers access to the most desired apartments, lofts, and town houses in New York City. Clients benefit from their discipline, professional integrity, and trust their results. Please contact 917-388-1562, www.distinctnyc.com. # # #