The former Seven Steakhouse & Sushi building on Hennepin Avenue sold for $4.4 million in an early 2024 auction, according to a certificate of real estate value, which was just made public.

That’s about 41% of its previous sale price. The two-story building at 700 Hennepin Ave. last sold for $7.5 million in late 2017. A recent appraisal valued the building at $4.65 million.

The new owners are two local investors, Tom McCarver and Steve Boynton, who told the Minneapolis/St. Paul Business Journal that they don't any plans or tenants lined up for the building yet.

The building went up for auction in February with a $500,000 starting bid and attracted significant interest from buyers, Downtown Voices previously reported. The sale didn't officially close until September because it was held up since the property was in receivership, according to the Business Journal.

There are two income-producing digital billboards on the building’s roof that could be worth more than the building itself.

McCarver and Boynton are executives of Blue Ox Media Group, which mostly owns billboards around the metro, but they purchased the building independently from the company.

“We absolutely believe in downtown and see this as a critical area and thought this presented a very nice long-term investment,” McCarver said.

The duo was attracted to the building's proximity to theater district, sporting arenas, and music venues.