A decade ago, New Orleans developer Earl Weber spent millions on a project that, at the time, seemed like a good bet. He purchased the former Musee Conti Wax Museum in the French Quarter and converted the historic Conti Street building into 16 luxury condominiums with a rooftop pool and views of the city skyline.
As of this year, six of the units remain unsold, with no potential buyers on the horizon. Weber, as a result, has walked away from several other New Orleans real estate development deals.
“We had a bunch of projects we pulled out of,” he said last week. “The condo market has completely fizzled.”…