Image courtesy of Google Maps.

A downtown Stamford office building has traded for $23 million to a local investment management firm.

Stamford-based New England Real Investment Partners bought 1010 Washington Blvd. from an affiliate of New York City-based real estate investment trust SL Green Realty. The property was appraised in 2018 for $26.6 million, city property records show. SL Green bought the property in 2007 for $38 million, according to public records.

The 101,453-square-foot building was built in 1987 and includes a 3-story, above-ground parking deck underneath the office space.

NERIP partner Jon Marcus told The Commercial Record that his firm is “cautiously optimistic” about the future of the area office market, despite softness in office leases in recent years that led at least one owner to plan a conversion of an older building into residential units.

“I think there’s a lot of potential for Fairfield County to see, if the state can get its act in order,” Marcus said, noting that its historic appeal to Manhattan-based companies is still strong.

NERIP plans to focus on small-scale upgrades to the building and to focus on the needs of its tenants, Marcus said.

The sale of 1010 Washington Blvd. follows the $15.15 million sale of the 177,000-square-foot former WWE headquarters building near the Stamford/Darien line.