Building Developments

Less than a year after placing the Portrait Building on the market, Dutch investor Wereldhave NV sold the eight-story, Class A office building to Clarion Partners for $98.5 million, or $730 per square foot, in February. Located in Chinatown, the building has about 140,000 square feet with a four level underground parking garage. Last spring, Wereldhave sold 801 9th Street for $147.5 million, or $625 per square foot, to Japanese investment firm N.S.P. Ventures Corporation. The company is looking to divest its U.S. holdings and also owns 1401 New York Avenue in Downtown.