The Pulse NOLA: One of NOLA’s most blighted properties sells

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

Commercial Sales Recorded Last Week

3409 Severn Ave, Metairie, LA 70002
3409 Severn Ave, Metairie, LA 70002

Type: Multifamily
Price: $17,650,000 ($109,627 / Unit)
Buyer: LOCAL ON SEVERN LLC
Elifin’s Notes: The Medve Group, a Texas-based property management company, acquires The Local on Severn, a 161-unit multifamily property, in Metairie for $17.6MM.

1925 L and A Rd, Metairie, LA 70001
1925 L and A Rd, Metairie, LA 70001

Type: Industrial
Price: $3,075,000 ($103.38 / SF)
Buyer: PERRONE PROPERTIES LLC
Elifin’s Notes: Perrone Properties, LLC purchases an industrial warehouse property in the Shrewsbury area.

142 Delaronde St, New Orleans, LA 70114
142 Delaronde St, New Orleans, LA 70114

Type: Office
Price: $1,900,000 ($23.49 / SF)
Buyer: IRON AURA LLC
Elifin’s Notes: The former Louisiana Power & Light headquarters sells in Algiers Point.

2025 Canal St; 115 N Prieur St, New Orleans, LA 70112
2025 Canal St; 115 N Prieur St, New Orleans, LA 70112

Type: Retail
Price: $1,850,000 ($28.73 / SF)
Buyer: 2025 CANAL ST DEVELOPMENT LLC
Elifin’s Notes: A large commercial property, noted on the City’s “most blighted properties” list from 2023, sells along Canal Street.

1332 Destrehan Ave, Harvey, LA 70058
1332 Destrehan Ave, Harvey, LA 70058

Type: Industrial
Price: $1,575,000 ($35.80 / SF)
Buyer: CHARRETTE HOLDINGS LLC
Elifin’s Notes: Charrette Holdings, LLC acquires an industrial property on Destrehan Avenue.

4136 Toulouse St, New Orleans, LA 70119
4136 Toulouse St, New Orleans, LA 70119

Type: Multifamily
Price: $775,000 ($77,500 / Unit)
Buyer: 518 SOUTH RAMPART LLC
Elifin’s Notes: A 10-unit multifamily property changes hands near Orleans Avenue.

184 Crislaur Ave, New Orleans, LA 70123
184 Crislaur Ave, New Orleans, LA 70123

Type: Multifamily
Price: $555,000 ($111,000 / Unit)
Buyer: CL184 LLC
Elifin’s Notes: A 5-unit multifamily property, three 3BR/2BA units and two 2BR/1BA units, changes hands off of Jefferson Highway in Harahan.

3039, 3047 St Claude Ave, New Orleans, LA 70117
3039, 3047 St Claude Ave, New Orleans, LA 70117

Type: Land
Price: $457,800 ($57.75 / Land SF)
Buyer: MILKYWAY MOTEL LLC
Elifin’s Notes: The Milkyway Motel LLC acquires two vacant land parcels on Saint Claude Avenue.

2001 Bonnie Ann Dr, Marrero, LA 70072
2001 Bonnie Ann Dr, Marrero, LA 70072

Type: Land
Price: $260,000 ($1.19 / Land SF)
Buyer: TGWB 2 LLC
Elifin’s Notes: A former school property, spanning over 5 acres sells off of Lapalco Boulevard.

229 Royal St, New Orleans, LA 70130
229 Royal St, New Orleans, LA 70130

Type: Mixed-Use
Price: Withheld
Buyer: 229 ROYAL STREET TRUST
Elifin’s Notes: A mixed-use property changes hands on Royal Street in the French Quarter.


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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