WASHINGTON, DC–A sale that GlobeSt.com had first reported, that of 1101 New York Ave., NW, has closed, according to its seller Property Group Partners. The buyers are a joint venture of Oxford Properties and the Norges Bank Government Pension Fund.

PGP did not announce the sales price but a source tells GlobeSt.com that it was trading for $389.3 million or $1,041 per square foot. Earlier we reported that a source had told us the property was trading for $418 million or $1,069 per square foot. Either way, the building trade is among the higher sales prices on a per square foot basis in the area — although not as high as the $1,250 per square foot that the JV paid for 900 16th St., NW.

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Developed as a speculative building and completed in 2006, 1101 New York Ave. was the first LEED Gold office building in the District of Columbia and was rapidly leased-up during construction. The building was developed by Louis Dreyfus Property Group, predecessor to Property Group Partners, in joint venture with an affiliate of W. R. Berkley Insurance Company of Greenwich, CT.

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