The McEnery Company was engaged to appraise a highly unique and historic property located at the prominent intersection of Royal Street and St. Louis Street in the heart of the French Quarter. The subject—home to Antoine’s, a nearly 200-year-old landmark restaurant—comprises an assemblage of five interconnected buildings operating as a unified compound. A key component of the analysis involved a detailed review of Antoine’s pre- and post-COVID gross revenue figures, which were compared to local market-extracted data for upscale restaurant operations. This benchmarking helped establish a credible relationship between restaurant revenues and market rent affordability thresholds, supporting a defensible rental rate conclusion. Our valuation recognized the complexity and cohesion of the property, accounting for both the physical interdependency of the structures and their functional integration. The assignment involved a comprehensive analysis of mixed-use market value dynamics, irreplaceable French Quarter location, historical significance, and location-driven investor demand.
