real estate

NORA Auction
3:22 pm
Fri October 5, 2012

NORA to auction 125 properties across New Orleans

The New Orleans Redevelopment Authority will auction 125 properties in several neighborhoods, including Lakeview, eastern New Orleans, Holy Cross, Gentilly, the 7th Ward, St. Roch and Uptown.

The auction will occur at 1 p.m. Oct. 27 at the Ernest N. Morial Convention Center. Registration is at 11 a.m.

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Fraud
3:48 pm
Thu September 13, 2012

Metairie man gets prison for $3.4M real-estate scam

A Metairie man has been sentenced to 30 months in federal prison for defrauding hundreds of investors in a Texas real-estate deal out of millions of dollars.

U.S. District Judge Lance Africk also on Thursday ordered Michael B. Smuck to pay more than $789,000 in restitution that he still owes investors. Prosecutors say Smuck already has paid nearly $3 million to one group of investors he bilked.

Smuck, who pleaded guilty in May 2010 to one count of mail fraud, solicited investments in acquiring a Houston apartment complex called Briar Meadows.

Real Estate
12:01 pm
Mon August 13, 2012

Land prices booming on Jefferson strip

The cost of land along Veterans Memorial Boulevard — east Jefferson Parish's main commercial corridor —has reached historic highs indicating a strong retail market, according to SRSA Commercial Real Estate of Metairie.

SRSA partner Donald Schwarcz tells New Orleans CityBusiness his figures show the strip's most valuable property costs as much as $60 per square foot, six times as much as land in eastern New Orleans, four times the cost along Lapalco Boulevard in west Jefferson and nearly twice as much as the most expensive commercial areas of St. Tammany Parish.

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Colonial Golf & Country Club
8:52 pm
Wed July 11, 2012

Colonial Golf & Country Club sale approved

A federal bankruptcy judge has approved the sale of Colonial Golf & Country Club's 88-acre property to businessman John Georges and real estate developer Wayne Ducote.

Judge Elizabeth Magner congratulated the parties assembled Wednesday after confirming the Harahan-based club's Chapter 11 reorganization plan.

The Times-Picayune reports the 87-year-old club closed in January and declared bankruptcy in February, a day before the property was to be sold at a state court-ordered auction.

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