The Pulse NOLA: Algiers Plaza shopping center sells for 35mm

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

Commercial Sales Recorded Last Week

4100 General De Gaulle Dr
4100 General De Gaulle Dr

Type: Retail
Price: $35,000,000 ($145.22 / SF)
Buyer: ALGIERS PLAZA, LLC
Elifin’s Notes: California-based entity purchases the Algiers Plaza shopping center for 35 MM

1010-1022 Louisiana Ave
1010-1022 Louisiana Ave

Type: Multifamily
Price: $1,900,000 ($316,667 / Unit)
Buyer: SHEFFIELD CAPITAL SOLUTIONS LLC
Elifin’s Notes: Through three separate transactions, a local investor purchases three duplexes, totaling 6-units, in the East Riverside area along Louisiana Avenue

914 N Rampart St
914 N Rampart St

Type: Multifamily
Price: $1,350,000 ($270,000 / Unit)
Buyer: LAFAYETTE FOUNDATION CLINIC INC
Elifin’s Notes: The Lafayette Foundation Clinic, Inc, a non-profit, purchases the French Quarter Bed & Breakfast, 5-units

513 Opelousas Ave
513 Opelousas Ave

Type: Retail
Price: $525,000 ($102.36 / SF)
Buyer: OMEGA INK LLC
Elifin’s Notes: A pair of investors, one a real estate agent, the other a former LSU football player, purchase the former Westside Cleaners building on the border of the Algiers Point and McDonogh areas

19808 Chef Menteur Hwy
19808 Chef Menteur Hwy

Type: Industrial
Price: $250,000 ($28.77 / SF)
Buyer: DYNAMIC METALWORKS L L C
Elifin’s Notes: Slidell-based entity purchases an industrial property sitting on 3+ acres of land in the Viavant/Venetian Isles area

1357 Lake Ave
1357 Lake Ave

Type: Multifamily
Price: $189,000 ($31,500 / Unit)
Buyer: LAKE AVENUE SUITES LLC
Elifin’s Notes: Local investor purchases a 6-unit multifamily property in the Metairie area

1708 Pailet Ave
1708 Pailet Ave

Type: Multifamily
Price: $182,000 ($30,333 / Unit)
Buyer: BURRAS REALESTATE SERVICES INC
Elifin’s Notes: Local investor purchases a 6-unit multifamily property in the Harvey Canal area

4920 Prytania St
4920 Prytania St

Type: Mixed-Use
Price: Withheld
Buyer: Yola N Mourginis
Elifin’s Notes: Local investor purchases a mixed use property with a street-level retail restaurant space and an apartment on the second floor, and located on Prytania between the Creole Creamery and the Chase Bank in the Uptown 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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