The Pulse NOLA: 80 unit apartment complex sold to NY investors

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

Commercial Sales Recorded Last Week

6711, 6725, 6741, 6747, 6759, 6769, 6801, 6817 Tara Ln
6711, 6725, 6741, 6747, 6759, 6769, 6801, 6817 Tara Ln

Type: Multifamily
Price: $6,100,000 ($76,250 / Unit)
Buyer: PLAZA PARK TARA LN LLC
Elifin’s Notes: New York-based investors acquire a 80-unit apartment complex, with configurations of: 1BR/1BA, 2BR/1BA, 2BR/2BA and 3BR/2BA, in the West Lake Forest area.

2600, 2604, 2608 Harvard Ave
2600, 2604, 2608 Harvard Ave

Type: Multifamily
Price: $1,440,000 ($120,000 / Unit)
Buyer: YANG&ZHANG REALTY LLC
Elifin’s Notes: Local investors acquire a three building 12-unit, 2BR/1BA, multifamily property in the Harvard Estates area.

5533-5539 Pitt St, 1325-1327 Joseph St
5533-5539 Pitt St, 1325-1327 Joseph St

Type: Multifamily
Price: $600,000 ($100,000 / Unit)
Buyer: 5533 PITT ST LLC
Elifin’s Notes: Lafayette-based investor acquires a 6-unit apartment house in the Audubon area.

2424 Marietta St
2424 Marietta St

Type: Industrial
Price: $500,000 ($118 / SF)
Buyer: ALPHA PROPERTY HOLDINGS LLC
Elifin’s Notes: Luling-based investors purchase a 4,240 sq ft industrial property with six spaces for offices and an adjoining warehouse space in the Bainbridge Office and Industrial Park area.

4500 N Dorgenois St
4500 N Dorgenois St

Type: Industrial
Price: $480,000 ($6 / SF)
Buyer: FAYT INC
Elifin’s Notes: Louisiana-based investors purchase a 80,000 sq ft industrial property sitting on 4.10 acres of land in the Bywater area along the Industrial Canal.

1801 Magnolia St
1801 Magnolia St

Type: Other
Price: $475,000 ($26 / SF)
Buyer: 1801 MAGNOLIA STREET LLC
Elifin’s Notes: Local investors purchase a 18,600 sq ft 40-bed congregate living facility configured in an assisted shelter living facility in the Central City area.

500 Lafayette St
500 Lafayette St

Type: Retail
Price: $475,000 ($153 / SF)
Buyer: JTN HOLDINGS LLC
Elifin’s Notes: Local investor purchases 3,104 sq ft retail property, currently configured as a pharmacy, in the Village of Gretna area.

4308 Firestone Rd
4308 Firestone Rd

Type: Industrial
Price: $350,000 ($23 / SF)
Buyer: LUDWIG BUILDINGS ENTERPRISES LLC
Elifin’s Notes: Local company purchases an industrial property sitting on 0.95 acres with 15,443 sq ft in industrial and office space in the St George Plantation area.

3022 New Orleans St
3022 New Orleans St

Type: Office
Price: $240,000 ($120,000 / Unit)
Buyer: OPERATION RESTORATION
Elifin’s Notes: Local non-profit, Operation Restoration, acquires a 2,408, two-unit, office space in the Dillard area.

316-318 S Broad St
316-318 S Broad St

Type: Office
Price: $200,000 ($65 / SF)
Buyer: 316 318 S BROAD LLC
Elifin’s Notes: Investment firm acquires a 3,072 sq ft two-story office building in the Tulane/Gravier area.


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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