Queens library takes commercial units at DelShah condo

Rendering of Sunrise Terrace
DelShah Capital has sold seven street-level commercial spaces, at the base of its Sunrise Terrace condominium in Flushing, to the Queens Borough Public Library for $3.5 million, the real estate firm announced today.

The seven units combine to provide more than 10,000 square feet for the public library, which has 65 existing locations throughout Queens, including a Flushing location at 41-17 Main Street.

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DelShah took control of Sunrise Terrace, at 31-32 Union Street, after purchasing the senior mortgage note on the building and proceeding through a lengthy foreclosure process that finally came to a close in September. DelShah took title to the seven commercial units and 17 unsold residential apartments in the 32-unit condo. Five of the apartments have since come under contract, the firm said.

The 12 remaining condos range from 1,000 to 1,400 square feet and $229,000 to $889,000. — Adam Fusfeld