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Major Post-Katrina Real Estate Investor Just Unloaded a Bunch of His Properties

New York investor Pincus Friedman went on a total post-Katrina spending spree, spending about $30 million scooping up properties left and right in lower Mid-City. Recently the investor sold more than 60 of these properties to a local investor, who already has his hands in several real estate ventures around the city.

Friedman sold the properties—which "outside of a few commercial warehouses" are "single-family homes and duplexes—with selling prices ranging from $45,000 to $315,000"—to local investors Morris Kirschman & Co. The investors have a lot of holdings around town, notably the former Frank's Steakhouse building on Freret Street that's currently being redeveloped to include a wine bar, offices and other tenants.

· New York investor sells dozens of New Orleans properties to local buyer [NOLA.com]
· Wine Bar Now Part of Frank's Steakhouse Development [Curbed NOLA]