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WASHINGTON, DC-The office property 1615 L St. is trading hands for $180 million, or $430 per square foot–one of the few office trades this year in the District. Bernard Spitzer, through a company he owns, has purchased the 418,000-square-foot office building from an affiliate of Broadway Partners. Spitzer, over the course of 60 years, has acquired a solid portfolio of residential and office towers in the New York and Washington, DC markets. A call to his office was not returned in time for publication.

Spitzer paid for the building with cash, assuming a pre-existing $138 million mortgage. Built in 1984, 615 L was then renovated in 2004 and is 92% occupied. The Washington, DC office of Eastdil Secured acted as sole broker in the transaction.

There are few recent comps with which to compare this trade, given the scarcity of investment sales over the last several months. The closest is 1620 L St., which traded for $61 million or $390.35 per square foot last October. A joint-venture between TIAA-CREF and Blackstone sold the building to the Chicago-based John Buck Co.

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