In less than 60 days after coming to market, the McEnery Company closed the sale as the sole broker in the transaction.
353 Carondelet Street is a four-story historic building situated on the corner of Carondelet Street and Perdido Street along the streetcar line in the heart of the Central Business District of New Orleans. This is one of the last remaining historic tax credit renovation opportunities in this thriving downtown market. The inventory of this type of untouched structure that could qualify for HTC in this area is mostly depleted. The potential redevelopment plays include a variety of mixed use applications such as ground floor retail/office with upper floor office/residential use. The favorable CBD-1; Core Central Business District zoning designation allows for short term rental permits to be issued for use year-round. This type of investment play would fit well with the surrounding land uses, as the majority of the upper floors in the adjacent buildings of similar scale are also taking advantage of the exploding short term rental demand.
