New Owners Get Lafayette Building, 10 Condos for $3 Million

Perhaps you heard that new names entered the ownership picture at downtown Little Rock’s Lafayette Square project at 523 Louisiana St.

What did Lafayette Building LLC get for its $3 million?

Nearly 43,000 SF of space devoted to commercial use on floors 1-5 and the mezzanine level and 10 residential condos scattered on floors 6-9.

The other 20 condos on floors 5-10 were sold in earlier deals totaling $3.15 million. That ciphers out to an average of $157,750 per unit.

Lafayette Plaza LLC, an affiliate of Tower Investments LLC of Woodland, Calif., was the seller in those earlier condo deals as well as the transaction with Lafayette Building.

You might recall that the new ownership group is led by Charles and Jessica Gallagher.