The Victorian cottage at 830 North St. sold last month for $225,000, or $130 per square foot. The seller, environmental engineering firm Boudreaux and Black Properties, previously occupied the cottage. The purchaser was HMT Properties, which was represented by Elizabeth Tanner.
The new owner will occupy the property with two separate businesses: an engineering firm and a political consulting firm. Joey Canella, who brokered this transaction as well, says the building was in relatively good condition and required only minor upgrades before the new owners could occupy it. The building came with a large enough lot to accommodate 10 parking spaces—an unusual amenity for a building of this size in the central business district.
“Although the building had been converted to office use several years ago,” Canella says, “we had a significant number of calls from people who wanted to lease if for residential use.”
Multiple sales have taken place recently in this area of downtown Baton Rouge near the interstate. In March, a firm set up by Bud Courson bought the Potts House at 831 North St. with plans for it to house his governmental relations and issues management firm, Courson-Nickel. Louisiana Realtors also recently acquired the Cangelosi Home at 821 Main St., which it has plans to renovate.
Buyers and investors, it seems, are recognizing the positive influence of all the new development activity downtown.
Tom Cook – Article courtesy of the Greater Baton Rouge Business Report