A 23,620-square-foot office/restaurant building on the south side of the New River in downtown Fort Lauderdale has a new owner.

The building at 400-408 S. Andrews Ave. sold for $15 million. The sellers were Gazarian Group LLC, managed by Krikor Gazarian in Miami; and Lineaire Group 10 New River LLC, managed by George Samarjian of Miami-based Lineaire Group. The companies owned 85.4% and 14.6% of the property, respectively.

The buyer was 400 S. Andrews Avenue LLC, in care of Shelby Smith, a senior property manager at Fort Lauderdale-based Berger Commercial Realty, and managed by Moshe Oppenheim in Miami.

The price equated to $635 per square foot. That is well above what Class A office towers typically sell for in Fort Lauderdale, and this is a comparably less expensive Class B building. However, that valuation could reflect potential redevelopment.

It last traded for $5.75 million in 2017, so the property gained in value as more development projects have sprung up downtown.

The building was constructed on the 22,064-square-foot site in 1975. While its address is on South Andrews Avenue, its direct access is not from that street because the building is so close to the bridge over the river. Instead, its parking lots can be accessed from Southeast First Avenue.

The restaurant tenant is the DownTowner seafood restaurant. The majority of the building is office space.

Smith couldn’t be reached for comment.

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