Buyer Closes on Plaza Tower for $650,000

The Plaza Tower buyer from an auction held a month-ago has closed on the purchase of the third tallest building in Louisiana.

The 45-floor building, at 1001 Howard Ave. in the Central Business District was gutted and placed on the market for $15.5 million in April 2010 after a $12 million project to remove mold and asbestos.

Bryan Burns, a principal in Plaza Tower Development Company, the firm responsible for the sale and overseeing its development, said “It truly has a broad mixed use potential for a variety of development.”

Corporate Realty was the local real estate agency involved in the deal.