Kirschman Purchases Former St. Charles Avenue Whitney Bank Branch For $3,750,000

by • January 2, 2018 • Acquisitions, RetailComments (0)1206

Photo of 1320 St. Charles Avenue via Lacdb.com

Investor Arnold Kirschman with Kirschman Enterprises LLC has closed on the former Whitney Bank building at 1320 St. Charles Avenue for $3,750,000 million.  The transaction closed in December.

The property included a two-story building of 11,500 square feet, and 31,465 square feet of land on nine separate lots of record.  The property is zoned MU-1, a very favorable zoning district that allows for a variety of uses.

Schaffer Mickal of Latter & Blum was the listing agent for the property, which was originally listed for $4.5 million.  Rachel Van Vorhees was the buyer’s agent.

This Whitney location is one of several that were put on the market as a result of Whitney’s acquisition of nine branches from First NBC Bank, which closed in April.

Kirschman is also the owner of mixed-use development Faubourg Freret and an investor in the former Times-Picayune headquarters that a group of investors purchased for $3.5 million in 2015.

 

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