318-320-324 Camp Street is now for sale. The 38,729-sf property consists of three buildings in the heart of downtown New Orleans. They are only a block and a half in from Poydras Street, the major corridor of the Central Business District, and just two blocks away from Canal Street and the French Quarter. This excellent location provides walkability to Class A office buildings, courthouses, hotels, restaurants, and attractions as well as easy access to public transportation that includes the St. Charles and Canal streetcars.
Each building is four stories and has undergone a masterful renovation that provides contemporary interiors while preserving historic character. Highlights include state-of-the-art conference rooms, curved walls, a soaring glass atrium in one building, original pressed tin ceilings in another, and connections between buildings on each floor. Originally built in the 1850s and in use by PETERMAYER for several decades, these buildings qualify for both state and federal historic tax credits (HTCs) that will allow a developer considering future use to recoup over 30% of its renovation costs.
“These are exceptional buildings in an exceptional location. We are honored to be working the Mayer brothers to bring these properties to market,” said Michael J. Siegel, SIOR, president of Corporate Realty who is part of the team representing this property.
This property has great potential for redevelopment purposes. Feasibility studies have been done for both a hotel conversion, which could result in a boutique hotel consisting of approximately 51 rooms and suites with restaurant and bar, as well as for a multi-family residential property featuring approximately 48 units. Zoning permits both opportunities.
From the 1850s through World War I, lower Camp Street was the center of many of the city’s newspapers, publishers, printers, and other support services. The back alley behind the property, Picayune Place, was the primary gathering spot for newsboys and other hawkers. These buildings have served not only as home to newspaper offices and printing presses but also to stationery shops, printing shops, a typewriter store, and an electric shaver company. In 1979 Peter Mayer Advertising purchased the building at 324 Camp Street and began working out of 320 Camp Street, and in 2000 the company purchased the 318 Camp Street building.
Donna Whalen Little is another member of the Corporate Realty team handling this property. For almost four decades, she has worked with property owners and clients in the CBD and seen significant evolution in the area. She believes the Camp Street property is ideal for a company desiring a high-profile identity in the CBD or a redevelopment opportunity.
For more information or to tour the property, please contact either Donna at firstname.lastname@example.org, Mike at email@example.com, or Randall R. White at firstname.lastname@example.org. They can also be reached at 504.581.5005.