The Pulse NOLA: The Madison Garden Apartments sell in Metairie

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

Commercial Sales Recorded Last Week

221 N Laurel St
221 N Laurel St

Type: Multifamily
Price: $5,750,000 ($97,458 / Unit)
Buyer: MADISON GARDENS ESTATES LLC
Elifin’s Notes: A New York-based investor purchases the 59-unit Madison Garden Apartments in Metairie

1101 Veterans Memorial Blvd
1101 Veterans Memorial Blvd

Type: Retail
Price: $1,200,000 ($600.00 / SF)
Buyer: KMHSHELL LLC
Elifin’s Notes: Lulling-based investors purchase a Shell gas station in the Ferndale area

150 W Airline Hwy
150 W Airline Hwy

Type: Multifamily
Price: $725,000 ($51,786 / Unit)
Buyer: ONE SIXTY WEST AIRLINE LLC
Elifin’s Notes: A mobile home park with an office building improvement sells in the Oakland Plantation area of Kenner

3125 Calhoun St
3125 Calhoun St

Type: Retail
Price: $530,000 ($232.35 / SF)
Buyer: 3125 CALHOUN ST LLC
Elifin’s Notes: Local investor purchases the retail property occupied by Roberts’ Bar and Liquor Store on the other side of S Claiborne Ave from Tulane’s Athletic Complex

2536 Illinois Ave
2536 Illinois Ave

Type: Multifamily
Price: $475,000 ($95,000 / Unit)
Buyer: 2536 ILLINOIS KENNER LLC
Elifin’s Notes: Local multifamily investor purchases a 5-plex situated as a portion of an existing parcel within the Highway Park area of Kenner

1441 Poland Ave
1441 Poland Ave

Type: Retail
Price: $250,000 ($177.68 / SF)
Buyer: 1441 INVESTMENTS LLC
Elifin’s Notes: A pair of area investors purchase a property previously used as an auto repair shop at the corner of Poland Ave and N Robertson St in the Bywater area

2417 Reverend Richard Wilson Dr
2417 Reverend Richard Wilson Dr

Type: Land
Price: $135,000 ($10.69 / Land SF)
Buyer: D STOP PROP LLC
Elifin’s Notes: Local business owners purchase a 0.29+ acre parcel of vacant commercial land in Kenner

1331 Decatur St
1331 Decatur St

Type: Mixed-Use
Price: Withheld
Buyer: LOWER DECATUR PROPERTY LLC
Elifin’s Notes: Local investor purchases a property at the corner of Esplanade Ave and Decatur St with a street-level retail space and 5 upstairs apartment units


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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