A nearly 200-year-old commercial building at the corner of Bourbon and Iberville streets has a new owner. Lata Family Investments LLC closed on the purchase of 201 Bourbon St., a three-story, roughly 6,500-square-foot property in the heart of the French Quarter, after the deal drew multiple offers and went under contract within days of hitting the market.
The sale closed in less than 60 days from listing to close, according to New Orleans CityBusiness, which reported the transaction. SRSA Commercial Real Estate marketed the building to its investor network, and the firm — which operates across Louisiana, Mississippi, Alabama and Florida and is celebrating its 35th anniversary this year — handled investment sales and brokerage services on the deal. The sale price was not disclosed.
The seller was the Arlene and Joseph Meraux Charitable Foundation, represented in the transaction by Barry Spizer. Spizer said the property was one-of-a-kind and investors recognized that immediately, per the same CityBusiness report, adding that long-built relationships enabled the deal to come together.
A Corner Lot With Deep Roots in Bourbon Street Nightlife
The building itself is estimated to be about 196 years old and carries a layered history that stretches back generations before its most recent tenant, Mango Mango Daiquiris, occupied the ground floor. In the 1950s, the address operated as the Sugar Bowl Club, with jazz and R&B acts, a comedian and girlie shows, according to a historical account shared on Facebook. Bourbon Street was widely known for that mix of live jazz and burlesque entertainment in the post-WWII era…