The McEnery Company was engaged by a private client to perform an independent appraisal of Place St. Charles, a premier Class A high-rise office tower in the Central Business District of New Orleans, Louisiana, for the purpose of tax contestation. This landmark property features a modern architectural profile, high-quality façade, expansive lobby and common areas, structured parking, and upper-floor views of the Mississippi River and CBD skyline. The building offers efficient floor plates, premium finishes, and a mix of high-speed vertical transportation and advanced building systems consistent with Class A standards. The engagement was set against the backdrop of challenging national market conditions for CBD high-rise office assets, with many U.S. cities experiencing shifting tenant demand away from central districts, stagnant rental rates, soft occupancy levels, and rising operating expenses. Given these dynamics, the valuation incorporated a discounted cash flow analysis to model future performance, carefully considering demand trends, market rent stagnation, occupancy forecasts, and expense growth pressures to determine a well-supported value conclusion for the client’s tax appeal.
