Weber Sells Teacher's Union Building to City of New Orleans

New Orleans, LA, May 14, 2009 --(PR.com)-- The 12,390 square foot UTNO Health and Welfare Fund Building at 4600 Paris Avenue, New Orleans, LA was sold last week to the City of New Orleans for $1.6 million.

The building had been totally renovated since Katrina, and sources say that it will be used as part of a training facility for the New Orleans Police Department.

Skip Weber, CCIM, a senior commercial sales broker with NAI/Latter & Blum, Inc. represented the owner. "We priced the property a bit below the appraisal" said Weber "to attract serious buyers who otherwise may not have been interested in this particular area outside of the CBD".

The building had been appraised for $1,775,000 and was priced at $1,760,000. With a sales price of $1,600,000, it fetched over $129/sq ft.

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