New York developer acquires more property along Tulane Avenue

New York developer acquires more property along Tulane Avenue | New Orleans CityBusiness

A commercial real estate developer whose holdings in the New Orleans area include Lakeside Shopping Center and the Galleria office building in Metairie continues to purchase property along the Tulane Avenue corridor.  An entity known as 2537 Tulane Properties LLC, led by New York developer Jeffrey Feil, bought the property at 2501 Tulane Avenue on May 23 for $740,000 from a company called JLS-Tulane, LLC, according to Orleans Parish land records. Wade Domingo is listed as the company’s manager and owned Joe’s Lawnmower Shop at the location. The property is at the corner of Tulane Avenue and South Rocheblave Street and offers a two-story, 11,200 square-foot building on a 6,400 square-foot lot. The second floor once housed two residential apartment units but now sits vacant. The lot is zoned MU-1 with HU-B1A, which calls for a medium-intensity mixed use in a neighborhood business district. Feil, CEO of the Feil Organization, also purchased the 1.6-acre piece of land at 2537 Tulane Ave. for $5.6 million in April from the family that owns Dixie Beer. The land in the deal encompassed most of the city block bordered by Banks Street, South Rocheblave, Tulane Avenue and South Dorgenois. There is a 49,000-square-foot warehouse on the property. The property at 2501 Tulane Ave. is in the same city block as the former Dixie Beer warehouse. Feil recently bought the old Jefferson Plaza shopping center and is partnering with Ochsner to develop a $62 million medical complex as part of the hospital’s expansion. He also helped redevelop the old Carrollton Shopping Center into a Costco in Mid-City. The Tulane Avenue area has been a popular spot for real estate investors in recent years as the University Medical Center opened last August and the Veterans Affairs Hospital prepares to open next year.

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