Jenel Management Corp., a New York City-based investment firm, has purchased the Gap building in downtown Charleston for $3.9 million, officials announced today.

The 8,760-square-foot space at 269 King Street adds to the firm’s portfolio of more than 70 properties, which are largely concentrated in New York City, Philadelphia, and South Beach, Fla, according to its website.

Gap will continue to operate in the King Street space, officials said.

The clothing retailer took over the space when Millennium Music closed in 1999.