A five-story office building at 99 Bedford St. in downtown Boston sold at auction Wednesday for $19 million — below its assessed value and more than $30 million less than it fetched in 2019 — underscoring the continued slump in the city’s office market.

The winning bidder was Bradley Hall, on behalf of Chevron Partners LLC, a real estate development company in Boston, and Capital Hall Partners, a real estate development and investment firm headquartered in Santa Monica, California, with offices in Boston.

The development firms behind the 99 Bedford Manager LLC took on the debt of the building, as recorded in land records on Sept. 3, from Boston Private Bank & Trust Company.

Asked after the auction why the firms decided to keep the building, Hall said, “We like the building,” and added t

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