350 Washington St., Boston

A prime retail building in Boston’s Downtown Crossing district has been acquired by Real Estate Capital Partners, a real estate investment firm with offices in New York City and Virginia. The longtime home of F.W. Woolworth Co., which was renovated into a multi-level retail center by Eastern Development LLC four years ago, reportedly traded for $110 million.

“That’s right,” one source close to the deal said of RECP’s commitment to the asset at 350 Washington St., which today features such retailers as H&M, T.J. Maxx and Marshalls. Woburn-based Eastern reportedly sunk more than $90 million into the building to reposition it following Woolworth’s demise, with the big payoff finally being completed last week.

Calls to Eastern and to the new owners were not returned by press deadline, while the brokers involved with the deal at Cushman & Wakefield were also unavailable for comment. Despite that, sources insisted that RECP has taken over the building, a notion seconded by officials at CB Richard Ellis/Whittier Partners, which has been retained to manage 350 Washington St. for the new owners.

“It’s a great property,” CB/Whittier principal Mark Tassinari told Banker & Tradesman. “It’s ground zero for retail on Washington Street.” RECP is buying the properties on behalf of overseas clients, according to sources. The property has 155,000 square feet of retail space, with a health club occupying the upper levels of the building.