200,000 Square Foot NOPSI Building Sells for $11.6 Million

by • February 10, 2015 • Acquisitions, Central Business DistrictComments (1)6259

317 Baronne Street via Google Maps

317 Baronne Street via Google Maps

The old New Orleans Public Service Building (NOPSI) sold last month to a Connecticut real estate development shop for $11.6 million, according to land records.

The NOPSI building complex was regarded by many in NOLA as one of the last major redevelopment opportunities for historic buildings in the CBD.

The NOPSI complex on Baronne Street (317 Baronne Street) is made up of an eight story building at 317 Baronne Street, a 2 story brick building on the corner, a small parking lot, and a smaller building at 311 Baronne Street.

The building was built in 1927, designed by Favrot and Livaudais, and stands 128 feet tall, according to records at Emporis.com.

The buyer was Building and Land Technology (BLT) is a privately held real estate private equity, development and property management firm.  This is their first acquisition in New Orleans.

The seller is  KMGR LLC, which include members of the Kailas family.   Back in 2007, Kailas proposed building two multistory towers that would house apartments, parking and retail space.

Rumor has it that the building will be turned into another hotel, although no word yet on the flag.

Pin It

Related Posts

One Response to 200,000 Square Foot NOPSI Building Sells for $11.6 Million

  1. […] The old New Orleans Public Service Building (NOPSI) sold in February 2015 to a Connecticut real estate development shop for $11.6 million. […]

Leave a Reply

Your email address will not be published. Required fields are marked *