The Pulse NOLA: 274 Unit Oakmont of Algiers sell

A weekly update on the commercial real estate landscape of New Orleans.

Commercial Sales Recorded Last Week

2200 Westbend Pkwy

Type: Multifamily
Price: $4,500,000 ($16,423 / Unit)
Buyer: ZURQUI LLC
Elifin’s Notes: As one of three sales this week as a result of the same bankruptcy proceeding, Baton Rouge-based investors purchase the Oakmont of Algiers apartment complex in the Behrman area

1445 Lapalco Blvd
1445 Lapalco Blvd

Type: Land
Price: $3,500,000 ($9.17 / Land SF)
Buyer: WESTBANK MUSLIM ASSOCIATION INC
Elifin’s Notes: Local association purchases vacant commercial land in the Oakdale area

316 Royal St
316 Royal St

Type: Retail
Price: $2,500,000 ($457.88 / SF)
Buyer: BEVOLO GAS & ELECTRIC LIGHTS L L C
Elifin’s Notes: Bevolo Gas & Electric Lights purchases the showroom/event space that they occupy in the French Quarter, next to their main store/work building, an area where they have operated since 1945

636 Carondelet St
636 Carondelet St

Type: Office
Price: $1,350,000 ($368.85 / SF)
Buyer: CASTLE H 636 LLC
Elifin’s Notes: Local investor purchases two-story office building in the CBD

2010 Cypress Acres Dr
2010 Cypress Acres Dr

Type: Multifamily
Price: $1,250,000 ($19,531 / Unit)
Buyer: ZURQUI LLC
Elifin’s Notes: As one of three sales this week as a result of the same bankruptcy proceeding, Baton Rouge-based investors purchase the Cypress Park apartment complex in the Behrman area

505 Frisco Ave
505 Frisco Ave

Type: Retail
Price: $1,160,000 ($145.00 / SF)
Buyer: 505 FRISCO AVENUE LLC
Elifin’s Notes: Laplace-based investor purchases the Nor-Joe Import Company Marketplace building in the Metairie Ridge Nursery area

2331 Canal St
2331 Canal St

Type: Office
Price: $725,000 ($237.70 / SF)
Buyer: CLC CAPITAL GROUP LLC
Elifin’s Notes: Local entity purchases a dwelling converted into office space sitting on 0.16+ acres on two parcels of land in the Tulane/Gravier area

2501 Houma Blvd
2501 Houma Blvd

Type: Multifamily
Price: $550,000 ($91,667 / Unit)
Buyer: ALI III LLC
Elifin’s Notes: Local entity purchases a 6-unit multifamily property in the Suburban Villas area of Metairie

2817 S Liberty St
2817 S Liberty St

Type: Multifamily
Price: $480,000 ($48,000 / Unit)
Buyer: DOWNTOWN LLC
Elifin’s Notes: As one of three sales this week as a result of the same bankruptcy proceeding, Metairie-based investors purchase the Liberty Park apartments in the Central City area

1784 Pace Blvd
1784 Pace Blvd

Type: Retail
Price: $350,000 ($100.11 / SF)
Buyer: NOLA LUXE LLC
Elifin’s Notes: Local investor purchases a dwelling converted into an event venue in the Behrman area

2235 Iberville St
2235 Iberville St

Type: Retail
Price: $150,000 ($83.71 / SF)
Buyer: MONTRY, LORI SUE; JOHNSON, RONALD E JR
Elifin’s Notes: Denver-based investors purchase retail-restaurant space in the Tulane/Gravier area

3815 Lapalco Blvd
3815 Lapalco Blvd

Type: Retail
Price: Withheld
Buyer: CLASSIC HARVEY F PROPERTIES LLC
Elifin’s Notes: North Carolina-based entity purchases car dealership in the Oakmere Business & Office Park area

3232 Ridgelake Dr
3232 Ridgelake Dr

Type: Office
Price: Withheld
Buyer: 3232 RIDGELAKE LLC
Elifin’s Notes: Local investor purchases large office building in the Harlem area of Metairie


Commercial Permits Issued Last Week


Sale records included based on the following parameters: Building and commercial land sales with a sales price that is either withheld or greater than or equal to $300,000. Multifamily sales greater than or equal to 5 units. Sale must be an arm’s length transaction (between unrelated parties). Best efforts are made to provide complete and reliable information, but accuracy is not guaranteed and the reader bears the responsibility to verify the accuracy of such information prior to forwarding it, utilizing it, or relying on it in any way.

Elifin Realty
marketing@elifinrealty.com
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