Madison Equities LLC purchased the 41-story Lowry Hotel located at 345 Wabasha St. N in Saint Paul, MN from IH 2 LLC for $4.7 million, or about $30,000 per room.
This 129,180-square-foot, historic hospitality building was constructed in 1926 and is comprised of 155 rooms. Madison Equities plans to open a restaurant on the main level.
Neither party reported any third-party brokers in the sale.
Please see Costar COMPS #2492029 for more information on this transaction.