One pace for February 2021 Completion. Mixed-Use New Construction Available for Purchase + Full OZ Tax Treatment: 3100 Banks is a unique and attractive opportunity zone project available for sophisticated Opportunity Zone investors. The $6,300,000 Purchase Price includes delivery of 21 residential units + 5,270 SF of commercial space, and twenty-one (21) off-street parking spaces with Certificate of Occupancy, with the Purchaser receiving all benefits of the Opportunity Zone tax treatment.
The location in Mid-City, one of the most sought after locales in the New Orleans marketplace to live and work, affords a durable and long-term investment platform. The favorable location is compounded by the opportunity zone designation and is coupled with entitlement and approved development plans in place. This is a superb opportunity to acquire this well-appointed property with tremendous upside as a rental property and subsequent condo sales, with realization of the substantial tax benefits provided by the Opportunity Zone. An investment into a QQF during this year or next year (2020 or 2021) is eligible for a 10% reduction in the capital gains tax.
Operating Budget and Detailed Construction Schedule Available Upon Request.
*Updated with construction progress photos*
Please contact Parke McEnery at 504.236.9542. or Gordon McLeod at 504.274.2711. Further property information available upon request. See attached OM, Survey and Building Plans. Contact agent for full drop box deal room.