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.