Big sale in Big Easy: Four Seasons penthouse breaks record

Deal for 30th floor condo unit at revamped tower is priciest ever in New Orleans

National Weekend Edition /
Jan.January 24, 2021 02:00 PM
Donald T. Bollinger and the Four Seasons New Orleans (Getty, Four Seasons)
Donald T. Bollinger and the Four Seasons New Orleans (Getty, Four Seasons)

The $13 million penthouse sale at the soon-to-open Four Seasons New Orleans Hotel and Private Residences is the priciest condo deal ever in the Big Easy.

Shipbuilder Donald T. Bollinger bought the 4,000-square-foot penthouse on the 30th floor of the revamped tower in Downtown, according to the Wall Street Journal.

Built in 1967, the 33-story building was designed by renowned architect Edward Durrell Stone, and opened as the city’s World Trade Center. Located on the Mississippi River, it sustained heavy damage during Hurricane Katrina in 2005 and sat largely vacant for several years.

The building was nearly demolished in 2010, but the city eventually chose the Four Seasons consortium to redevelop it in 2015. Work began two years later, and is set to be completed soon at a cost of $530 million, a spokesperson told the Journal. There will be 92 condos and 341 hotel rooms.

Bollinger’s new penthouse itself once served as the Plimsoll Club, a restaurant, lounge and event space that mostly hosted foreign dignitaries and business executives. The original fireplace was kept.

Interiors have been updated to a contemporary style with dark floorboards, white walls, and black accents on the floor-to-ceiling windows overlooking the city and the river.

Bollinger was formerly CEO of Bollinger Shipyards, a company his father founded in 1946. There is a Bollinger Shipyards facility just across the water from the Four Seasons tower. Donald T. Bollinger sold his stake in the company in 2014, but his name is still emblazoned on two drydocks nearby. [WSJ] — Dennis Lynch


Related Articles

arrow_forward_ios
(iStock)
LA County home sales are falling, but condo deals still rise
LA County home sales are falling, but condo deals still rise
Photo illustration of Gov. Gavin Newsom and the Holiday Inn in Long Beach (Getty, Google Maps)
California spent $850M on inns for homeless
California spent $850M on inns for homeless
The Georgian at 1415 Ocean Avenue and The Viceroy at 9291 Burton Way (Google Maps)
An inhospitable market? LA’s biggest hotel sales plunge in 2020
An inhospitable market? LA’s biggest hotel sales plunge in 2020
Slate Property Group co-founder Martin Nussbaum and the Hotel Cecil (Slate, Google Maps)
Developer snags $30M loan for Hotel Cecil conversion
Developer snags $30M loan for Hotel Cecil conversion
300 S. Santa Fe Ave. (Google Maps)
LA’s top 5 multifamily investment sales of 2020 fell 50%
LA’s top 5 multifamily investment sales of 2020 fell 50%
Justin Myers, Vice President of Atlas Hospitality
Study: California hotel construction outlook is bleak
Study: California hotel construction outlook is bleak
Frederik Eklund and a rendering of 8899 Beverly Boulevard (Getty, building courtesy of 8899 Beverly)
In tough market, West Hollywood condo developer plans $100M listing
In tough market, West Hollywood condo developer plans $100M listing
Michael Rosenfeld and a rendering of Century Plaza (Credit: Presley Ann/Getty Images for THR)
Inside Michael Rosenfeld’s $1.8B odyssey at Century Plaza
Inside Michael Rosenfeld’s $1.8B odyssey at Century Plaza
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...