Maryland-based investment firm ASB Capital Management acquired a nine-story, 43,000-square-foot Flatiron District commercial building for just under $44 million, according to property records filed with the city last week.

ASB bought the building at 7 West 18th Street, located between Fifth and Sixth avenues, from Connecticut-based Scandia Realty for a purchase price of $43.75 million. The deal closed Dec. 14.

In addition to 4,000 square feet of retail space currently occupied by furniture store Homenature, the 115-year-old commercial building houses more than 39,000 square feet of office space in the heart of the Midtown South district — which ranks as the tightest office market in the city. The deal amounts to slightly over $1,000 per square foot.

Neither ASB nor Scandia could be reached for comment. The Bethesda, Md.-based firm partnered with Chicago-based L3 Capital to acquire a portfolio of 16 Williamsburg properties for $86 million earlier this year. The firms are planning residential and retail projects on the sites.

ASB’s real estate investments division currently has around $6 billion in assets under management, according to the company’s website.

Source: ASB buys Flatiron District office building for M