The Pulse NOLA: California Building on Tulane Ave sells for 38 million

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

Commercial Sales Recorded Last Week

1111 Tulane Ave
1111 Tulane Ave

Type: Multifamily
Price: $38,000,000 ($226,190 / Unit)
Buyer: CBT INVESTORS LLC
Elifin’s Notes: Covington-based investment group purchases the California Bulding along Tulane Avenue in the Central Business District. The property is a ten-story building, the first floor is devoted to retail space and the remainder has 167 residential units

1206 Magazine St, 1022 Erato St; 1212-1216 Magazine St
1206 Magazine St, 1022 Erato St; 1212-1216 Magazine St

Type: Hospitality
Price: $2,700,000 ($245,455 / Unit)
Buyer: 1206 MAGAZINE & 1022 ERATO LLC; 1501 ORETHA CASTLE HALEY BLVD LLC
Elifin’s Notes: Boston-based Short-Stay rental firm adds to their New Orleans portfolio with the purchase of the Green House Inn boutique hotel in the Lower Garden District fronting on Magazine Street through two separate transactions totaling 2.7 million dollars

1920 Toledano St
1920 Toledano St

Type: Industrial
Price: $450,000 ($256 / SF)
Buyer: JESSIES PROPERTIES LLC
Elifin’s Notes: Local group purchases a 1.36 acre lot, currently used as a holding facility for heavy equipment, with a 1,758 office building near the MSY Airport in the Kenner area

1800 Industrial Blvd
1800 Industrial Blvd

Type: Office
Price: $425,000 ($96 / SF)
Buyer: BERNARD BROTHERS LLC
Elifin’s Notes: Mandeville-based group acquires an, 4,427 sq ft, office with warehouse property in the Lapalco Industrial Park area

2804 Athania Pkwy
2804 Athania Pkwy

Type: Office
Price: $412,500 ($412,500 / Unit)
Buyer: DIMAGGIO ELECTRONIC SYSTEMS LLC
Elifin’s Notes: Local business purchases a 3,000 sq ft office space in the Athania area

1416 Lafayette St
1416 Lafayette St

Type: Retail
Price: $400,000 ($128 / SF)
Buyer: PRESTIGE STAFFING LLC
Elifin’s Notes: Local investor purchases an apprx. 3,133 sq ft retail space in the Village of Gretna area

940 Cohen St
940 Cohen St

Type: Specialty
Price: $185,000 ($77 / SF)
Buyer: CHRISTIAN EMPOWERMENT CHURCH
Elifin’s Notes: Local religious organization purchases a 2,414 sq ft specialty property in Marrero

3335 N Claiborne Ave
3335 N Claiborne Ave

Type: Retail
Price: $175,000 ($136 / SF)
Buyer: EXPRESS HOLDINGS LLC
Elifin’s Notes: Local investors acquire a 1,290 sq ft retail space sitting on 0.25 acres in the pre-development stage in the St. Claude area

5200, 5206-5208 Saint Claude Ave
5200, 5206-5208 Saint Claude Ave

Type: Land
Price: $120,000 ($12.20 / Land SF)
Buyer: SANKOFA COMMUNITY DEVELOPMENT CORPORATION
Elifin’s Notes: Local non-profit purchases 0.23 acres of undeveloped land along Saint Claude Avenue in the Holy Cross area

2300 Pasadena Ave
2300 Pasadena Ave

Type: Multifamily
Price: Withheld
Buyer: 2300 PASADENA LLC
Elifin’s Notes: Local investment group acquires a multifamily property with 30, 1BR/1BA, units in the Point Vista area

1000 Justin Rd
1000 Justin Rd

Type: Industrial
Price: Withheld
Buyer: STEVEN CS L&A ROAD LLC
Elifin’s Notes: Baton Rouge-based investor purchases a 2,150 sq ft industrial warehouse in the Labarre Business Park 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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