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After $330K Sale, What's Next For This Boarded-Up LGD Space?

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When this boarded-up Lower Garden District property hit the market in October, we pondered if $429,000 was pushing it for a place in need of a total renovation. That question was answered by the two price chops that occurred, one which brought the most recent ask for the 4,140-square-foot space down to $359,000. The sale price of this Magazine Street spot: $330,000. No interior pics were provided for the eight-bedroom, five-bath home that was built in 1913, so one can only imagine what's behind that pink facade. We do know that the buyers, doing business under the Magterpe, LLC, happen to be the owners of the Seahorse Saloon near the Fairgrounds, so perhaps they have a tavern renovation in mind? The multi-fam home is zoned commercially under the C-1A designation, which allows a variety of options, from retail to a bed-and-breakfast set-up; or with a conditional use permit, a cocktail lounge or bar.

· 1306 Magazine Street coverage [Curbed NOLA]
· Sold Stuff archives [Curbed NOLA]