NEW YORK CITY-Readers rejoice: the Queens Borough Public Library will be moving into its new digs at the base of the Sunrise Terrace condominium in Flushing, says real estate investment firm DelShah Capital LLC, who handled the deal. The library purchased seven street-level commercial spaces totaling more than 10,000 square feet at 31-32 Union St. for $3.5 million.

“We are excited that such a veritable institution was attracted to this building,” says Marc Watkins, executive vice president of DelShah Capital, in a statement. “We are extremely confident that the library’s plans will be an asset to the neighborhood.”

The property itself, however, has a complex history. DelShah purchased the first mortgage on the 32-unit mixed-use building from China Trust Bank for $5.4 million, and then worked through a foreclosure litigation against previous owner Paramount Management Corp. and five junior creditors, including Grand Pacific USA, private lender Golden Eagle and other private investors in the Flushing community.