500 Lafayette St. art

500 Lafayette St. is pictured in the lower-center of the photo.

A group of local investors has paid $15.9 million for the SoBro property once home to Czann’s Brewing Co. and is planning a residential tower for the site.

The group, which includes Steve Armistead, Brad Bars, Jared Bradley and Tim Morris, created an LLC to acquire the three-parcel site. The 1.17-acre property offers two buildings (neither of which offers a tenant) and a main address of 500 Lafayette St.