Esplanade at City Park apartments sell for $54.5M

Located in Mid-City on Bayou St. John, situated between City Park and the New Orleans Fairgrounds, The Esplanade at City Park offers a remarkable location with valuable, unmatched amenities. Utilities and gated parking are included. Other activities and features include a fitness center, business center, movie screening room, yoga and pilates, and a Wii Game Room.
A Florida investment group has sealed the deal!
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1031 Tax Straddling for 2014

With the end of 2013 approaching, there are investors selling real estate who are not sure whether to initiate a 1031 Exchange because they are concerned about securing replacement property. One thing to keep in mind is that the IRS does not penalize investors for attempting to complete a 1031 Exchange. However, if investors cannot successfully complete their 1031 Exchange, the taxes associated with the sale of their investment property will be due. The good news is at this time of the year, there may be a silver lining. "Tax straddling" may be an option where the taxpayer receives a one year tax deferral.
How does it work? Once a 1031 Exchange is initiated, if replacement property is not purchased to complete the exchange, the earliest the Qualified Intermediary can return the taxpayer’s funds is on the 46th day (the day after the identification time period has ended) or, in some cases, the 181st day (the day when the 1031 Exchange time period is complete). Taxpayers who enter into a 1031 Exchange during the fourth quarter of 2013 and receive their funds back from the Qualified Intermediary in 2014 have the option of deferring payment of taxes on the profits from their sale until 2015 - the due date of their 2014 tax return. Combining §1031 with §453 permits the cash received from the Qualified Intermediary at end of the exchange to be treated as a payment in the year of actual receipt, rather than in the year the property was sold.
Tax straddling provides added incentive to taxpayers selling investment property at the end of the year. Why not attempt to complete a 1031 Exchange when a one year deferral is available as the back-up plan?
Taxpayers should consult with their tax advisors since tax straddling does not apply to all sales, and any gain attributed to debt relief will still have to be recognized in the year of sale. It is also important

that the taxpayer has the intent to complete the 1031 Exchange when the 1031 account is opened.
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Issues Affecting Real Estate

Rising interest and capitalization rates top the list of issues that have future implications for real estate.

Historically low interest rates have driven the economy and real estate markets in recent years, but as rates start to rise, it could raise capitalization rates, the ratio between the income produced by an asset and its cost, which could create anxiety about investing in real estate.

 Healthcare is also an important issue that has implications for real estate. As the population ages, there will be greater demand for senior housing, requiring a change in the configuration and size of available housing, and for greater medical care, resulting in an expansion in medical facilities.

 In commercial markets, transaction volume is up, credit is available, underwriting has loosened and a full range of debt options is back. For residential markets, underwriting remains tougher but rates are near historic lows and affordability remains high.

Future housing demand from echo boomers, the 80 million Americans born between 1982 and 1995, will also impact real estate markets. Echo boomers often prefer a more flexible and active urban lifestyle, and are often willing to trade home size for location. However, the suburbs are fighting back with new bike paths, and repurposed properties to attract more future buyers.

Then there is such factor as globalization, foreign investment and the economies of other countries as variables that will continue to have a greater impact on the U.S. economy and real estate market.

Impact of the Internet on bricks-and-mortar retail stores is also a growing issue. He said retail demand is down across the country due to an increase in Internet sales, which are expected to rise from the current 6.5 percent to nearly 15 percent by 2020.

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COMING TO THE JOY THEATRE

Direct from New York, the world's #1 Dinner Show, Tony 'n Tina's Wedding, is coming to New Orleans for an exclusive engagement at the Joy Theater!  Tony 'n Tina's Wedding is the longest running Off-Broadway comedy in history. 

In this hilarious interactive comedy, the audience is part of the show.  As "invited guests," the audience begins with a ceremony followed by a rousing reception.  There's dancing, champagne toasts, a full pasta dinner and a slice of wedding cake...all provided by the Nunzio and Vitale "families."  Don't miss out on the 25th anniversary tour of Tony 'n Tina's Wedding!

More information on what's happening in New Orleans 

The Big Question: To Renovate or Rebuild?

http://findneworleansproperties.com/real-estate-news/the-big-question-to-renovate-or-rebuild

Commercial Real Estate Recovering

Development and construction of new commercial real estate – office, industrial and retail buildings – continued its climb in 2012, supporting approximately 2.3 million American jobs and contributing $303.4 billion to the nation's economy, marking the second year that the sector posted gains since 2007, according to a new report released this week by the NAIOP Research Foundation (Commercial Real Estate Development Association).

Commercial real estate alone supported at least 2.3 million American jobs in 2012

Commercial real estate contributed $303.4 billion to U.S. GDP, a 16% increase from 2011

Construction and development spending grew nearly 10% from 2011

307.5 million square feet built in 2012, a 29% increase from 2011

Top Ten States for Commercial Real Estate:

1. New York, $4.80 billion in spending, supporting 122,600 jobs

2. Texas, $4.34 billion in spending, supporting 162,877 jobs

3. Iowa, $2.92 billion in spending, supporting 85,753 jobs

4. California, $2.88 billion in spending, supporting 96,572 jobs

5. Ohio, $2.04 billion in spending, supporting 76,830 jobs

6. Florida, $1.97 billion in spending, supporting 78,274 jobs

7. Massachusetts, $1.78 billion in spending, supporting 49,653 jobs

8. North Carolina, $1.75 billion in spending, supporting 68,819 jobs

9. Illinois, $1.64 billion in spending, supporting 56,654 jobs

10. Georgia, $1.58 billion in spending, supporting 61,715 jobs

To search for commercial properties in your area go to http://findneworleansproperties.com/

1310 DAUPHINE ST, New Orleans, LA 70116

Classic beauty within a block of Cabrini Park. Masonry two story home with attached service wing constituting a most elegant home with wood floors and Italian stone floors. Currently used as a 2 bedroom 2 bath plus a rear outhouse which has been "chic-ed" up for downstairs half bath usage off of an elegant side garden/patio. Possible parking a plus. Early 1850s architecture.
Now offered for sale.
http://findneworleansproperties.com/