The Pulse NOLA: Historic school property sold in the CBD

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

This week’s highlights show notable market activity in Greater New Orleans, including the sale of a historic school property at 727 Carondelet Street in the CBD for $2.1m underscoring continued interest in adaptive-use and specialty assets in core urban districts. Other recorded deals ranged from a $1.48m retail sale on Kenner Avenue to neighborhood retail transactions on River Road and General Meyer Avenue. Alongside these sales figures, the weekly permit list reflects significant development momentum, including a $9m renovation of the Morgan Street ferry terminal building and nearly $6.7m in new construction for a Trinity Episcopal School dining hall, reinforcing the pipeline of investment and infrastructure improvements in the region. As the market leader in Louisiana commercial real estate research and insights, ELIFIN® contextualizes these transaction and permit trends for investors, developers, and stakeholders across sectors, providing authoritative analysis that guides strategic decision-making.


Commercial Sales Recorded Last Week

727 Carondelet St, New Orleans, LA 70113
727 Carondelet St, New Orleans, LA 70113

Type: Specialty
Price: $2,100,000 ($36.37 / SF)
Buyer: BD OZ CBD NOLA LLC
Elifin’s Notes: Originally built in 1937, this school property sells on Carondelet Street.

2118 Kenner Ave, Kenner, LA 70062
2118 Kenner Ave, Kenner, LA 70062

Type: Retail
Price: $1,480,000 ($86.09 / SF)
Buyer: AGREE STORES, LLC
Elifin’s Notes: A retail property, occupied by Gerber Collision & Glass sells on Kenner Avenue.

3908 River Rd, New Orleans, LA 70121
3908 River Rd, New Orleans, LA 70121

Type: Retail
Price: $395,000 ($51.22 / SF)
Buyer: BLACK ELIZABETH B
Elifin’s Notes: A retail property sells on River Road.

4855 General Meyer Ave, New Orleans, LA 70131
4855 General Meyer Ave, New Orleans, LA 70131

Type: Retail
Price: $385,000 ($167.98 / SF)
Buyer: VOJE LLC
Elifin’s Notes: A California-based company acquires a retail property on General Meyer Avenue.

3240 Law St, New Orleans, LA 70117
3240 Law St, New Orleans, LA 70117

Type: Land
Price: $102,000 ($1.26 / Land SF)
Buyer: MORRIS JEFF COMMUNITY SCHOOL
Elifin’s Notes: A 1.8+ acre parcel of land sells on Law Street.

427 Gravier St, New Orleans, LA 70130
427 Gravier St, New Orleans, LA 70130

Type: Hospitality
Price: Withheld
Buyer: 427 GRAVIER STREET LLC
Elifin’s Notes: A 6-unit hotel permitted property changes hands on Gravier Street.


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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