The Pulse NOLA: French Quarter apartments sell for 2.8mm

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

Commercial Sales Recorded Last Week

516, 518-520, 524 Governor Nicholls St
516, 518-520, 524 Governor Nicholls St

Type: Multifamily
Price: $2,800,000 ($186,667 / Unit)
Buyer: 801 PATTERSON OWNER LLC
Elifin’s Notes: Local investment group acquires a 15-unit garden apartment property with a unit mix including ten 1BR/1BA, four 2BR/1BA, and one 2BR/2.5BA in the French Quarter area near the historic French Market.

1000-1002-1004 Third St
1000-1002-1004 Third St

Type: Multifamily
Price: $2,125,000 ($265,625 / Unit)
Buyer: THIRD ST REALTY LLC
Elifin’s Notes: Local investment group acquires a 8-unit multifamily property with mixed layouts in the Irish Channel.

3401, 3407 Jefferson Hwy
3401, 3407 Jefferson Hwy

Type: Hospitality
Price: $1,290,000 ($30,000 / Unit)
Buyer: 3401 JEFFERSON HWY LLC
Elifin’s Notes: New Iberia-based group purchases the, 43 room, Jefferson Inns and Suites motel that includes a 9,600 sq ft two-story storage facility included on the property in the Claiborne Gateway subdivision.

1301 N Al Davis Rd
1301 N Al Davis Rd

Type: Industrial
Price: $1,200,000 ($168 / SF)
Buyer: JNO ENTERPRISES LLC
Elifin’s Notes: Harahan-based investors purchase an industrial property with a 7,137 sq ft building sitting on 1.58 acres of land in the Elmwood Industrial Park subdivision.

4841 Zenith St
4841 Zenith St

Type: Multifamily
Price: $1,050,000 ($87,500 / Unit)
Buyer: 4841 ZENITH LLC
Elifin’s Notes: Local investor purchases multifamily property with 12, 1BR/1BA, units in the Metairie area.

300 Codifer Blvd
300 Codifer Blvd

Type: Office
Price: $995,000 ($142,143 / Unit)
Buyer: CODIFER PROPERTY LLC
Elifin’s Notes: Canseco’s Market owner purchases a 0.22 acre property with two office buildings totaling 7-units and 2,376 sq ft in the Metairie area.

6613, 6619 Fleur De Lis Dr
6613, 6619 Fleur De Lis Dr

Type: Office
Price: $710,000 ($178 / SF)
Buyer: DESIGNER DENTAL LLC
Elifin’s Notes: Local business purchases 4,000 sq ft two-story office building sitting on 0.27 acres of land in the West End area.

8460 Morrison Rd
8460 Morrison Rd

Type: Office
Price: $285,000 ($41 / SF)
Buyer: STUDIO 4212 LLC
Elifin’s Notes: Local investor acquires a two-story 7,020 sq ft office and retail space, previously used as a cosmetology school, in the Little Woods area.

11030 Chef Menteur Hwy
11030 Chef Menteur Hwy

Type: Industrial
Price: $180,000 ($11 / SF)
Buyer: JTR INVESTMENTS LLC
Elifin’s Notes: Local investors acquire an industrial property with three warehouse-type buildings comprising 16,911 sq ft sitting on 1.61 acres.

1202 Soniat St
1202 Soniat St

Type: Retail
Price: Withheld
Buyer: PAINTSPACE NOLA LLC
Elifin’s Notes: Local investors acquire a 1,715 sq ft retail space in the Uptown area. Price withheld.


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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