New Orleans High-Rise Sold at Auction
PUBLISHED 27 July 2007
Plaza Tower, one of the first modern high-rises in New Orleans, was sold Thursday at public auction for $583,000, which cleared an overdue tax bill with the city.
Appraised at only about $100,000, a group known as Howard Acquisitions LLC, which had foreclosed on a $24 million mortgage on the skyscraper, basically got clear title to the structure, said Civil Sheriff Paul Valteau, who conducted the sale as part of a routine auction of properties in the civil courthouse lobby.
“It’s theirs to do with it what they want,” Valteau said.
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