The Pulse NOLA: St. Bakhita Apartments in Marrero sell for 3mm

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

Commercial Sales Recorded Last Week

8814 Veterans Memorial Blvd
8814 Veterans Memorial Blvd

Type: Retail
Price: $4,600,000 ($141 / SF)
Buyer: LUCKY SEVEN LLC
Elifin’s Notes: This two-story, 32,740 sq ft, retail center with 14 units in the Westgate area was bought as part of an Anthony Marullo and Bradley Jongbloed investment team purchase of two retail centers for $7,850,000.

1933 Ursulines Ave
1933 Ursulines Ave

Type: Hospitality
Price: $3,250,000 ($120,370 / Unit)
Buyer: NEW ORLEANS FAMILY JUSTICE ALLIANCE
Elifin’s Notes: Local non-profit acquires a 27-unit hospitality property currently used as a motel in the Treme area.

2401 Veterans Blvd
2401 Veterans Blvd

Type: Retail
Price: $3,250,000 ($132 / SF)
Buyer: LUCKY SEVEN LLC
Elifin’s Notes: This two-story, 24,630 sq ft, retail center with 13 units in the Highway Park area was bought as part of an Anthony Marullo and Bradley Jongbloed investment team purchase of two retail centers for $7,850,000.

6305 4th Street
6305 4th Street

Type: Multifamily
Price: $3,000,000 ($30,000 / Unit)
Buyer: ST BAKHITA PORTFOLIO LLC
Elifin’s Notes: Multi-family investors purchase the 100-unit St. Bakhita Apartment home complex, with 2BR/1BA, 3BR/2BA, 4BR/2BA floor plans in the Ames Farm area in Marrero.

1746-1754 Prytania St
1746-1754 Prytania St

Type: Hospitality
Price: $1,300,000 ($43,333 / Unit)
Buyer: R MANUEL RENTALS
Elifin’s Notes: Nashville-based investors purchase the St. Charles Guest House, a three building boutique bed and breakfast with 30-units, some without en-suite bathrooms, licensed for 36-units, in the Lower Garden District area.

1904-1926 James Drive
1904-1926 James Drive

Type: Multifamily
Price: $870,000 ($72,500 / Unit)
Buyer: 1904 JAMES PROPERTY LLC
Elifin’s Notes: Local investor purchases a set of six adjacent homes in the Golden Heights area of Marrero, all with two 2BR/1BA units, for a total of 12-units.

2832-2834 Lasalle St
2832-2834 Lasalle St

Type: Multifamily
Price: $850,000 ($53,125 / Unit)
Buyer: 2834 LASALLE LLC
Elifin’s Notes: Local investor purchases a 16-unit multi-family property, with the front facing unit previously serving as a retail space, in the Central City area.

2916, 2918 Franklin Ave; 2921 Painters St
2916, 2918 Franklin Ave; 2921 Painters St

Type: Retail
Price: $400,000 ($109 / SF)
Buyer: PROFESSIONAL FUNERAL SERVICES INC
Elifin’s Notes: Local investor purchases a 3,653 sq ft general retail space in the St. Roch area.

2010 Williams Blvd
2010 Williams Blvd

Type: Retail
Price: $400,000 ($231 / SF)
Buyer: Rhodes Donald
Elifin’s Notes: Local investor purchases a 1,730 sq ft restaurant retail property along Williams Boulevard in the Highway Park area of Kenner.

1000 4th St
1000 4th St

Type: Office
Price: $390,000 ($139 / SF)
Buyer: JEFFERSON PARISH COUNCIL
Elifin’s Notes: Jefferson Parish Council acquires property near the 24th JDC, formerly the office of Duplechin & Associates, with approximately 2,800 sq ft in space.

19759, 19761 Chef Menteur Hwy
19759, 19761 Chef Menteur Hwy

Type: Industrial
Price: $325,000 ($52 / SF)
Buyer: WILLIAMS TROY D
Elifin’s Notes: Local purchaser acquires a 6,193 sq ft warehouse property in the Fort Macomb area.

4344 Poche Ct W
4344 Poche Ct W

Type: Industrial
Price: $295,000 ($24 / SF)
Buyer: ALLTEMP INSULATIONS INC
Elifin’s Notes: Local industrial business acquires a 12,450 industrial warehouse property in the Michoud area.

128 Papworth Ave
128 Papworth Ave

Type: Multifamily
Price: $230,000 ($46,000 / Unit)
Buyer: BOCO DEV LLC
Elifin’s Notes: Metairie-based investors acquire a 5-unit multifamily property in the Metairie Ridge Nursery area.

3702 Bienville St
3702 Bienville St

Type: Office
Price: Withheld
Buyer: HAHN TANIA
Elifin’s Notes: Local investor purchases a 2,402 sq ft general office building in the Mid-City 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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