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Loud, Garish Plaza Tower Sells With Little Fanfare

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[UPDATE] It has been confirmed that Joe Jaeger Jr's company Alexandra Land and Development LLC has purchased the Plaza Tower.

Plaza Tower quietly sold last week for an undisclosed sum. The lone skyscraper on the corner of Howard and Loyola has the kind of cursed history on par with the recently imploded Pallas Hotel — both were misguidedly built to anchor a new wave of architecture and living-slash-working space in New Orleans only to fail miserably and never recover. Unlike the Pallas, whose beginnings proved promising when a wave Boeing employees moved in upon its completion, the Plaza Tower had no such hey-day.

The future is uncertain for the Plaza Tower but its past sure is blemished. The CBD skyscraper has changed hands consistently from the start, its construction spanning two parts as it was sold while being built. Plaza Tower first opened in 1969 as the tallest building in the city at that time. It offered small floors as well as toxic mold and asbestos. Those working in the Plaza Tower filed a class action lawsuit against the state over its dingy interior it was so poorly maintained. Residents complained and promptly fled and the building officially closed down in 2002.

Its previous owner, Bryan Burns, had initial plans to turn the space into luxury condos, offices, and shops. Burns brought the skyscraper at an auction in 2011 and has been fairly tight-lipped about selling it himself. No mention has been made on who now owns the property or its fate. Can the Plaza Tower avoid the Pallas' fate? Stay tuned.

· Plaza Tower, 45-story office building vacant for more than a decade, is sold [NOLA.com]
· Sold Stuff [Curbed NOLA]