Empty New Orleans Skyscaper Goes For $650K

Law360, New York (December 2, 2011, 4:30 PM EST) -- New Orleans real estate manager Bryan Burns and a team of undisclosed investors have purchased the long-vacant Plaza Tower in New Orleans for $650,000, a spokesman for one of the real estate companies retained to sell the 45-story skyscraper said Friday.

Burns, who is senior vice president at commercial real estate company Transwestern, and the investor group purchased the building at auction Wednesday through the recently created Plaza Tower Development Co. LLC, which is led by Burns.

The group plans to turn the Plaza Tower into...
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