- The Gates on Manhattan is a 276 unit garden style apartment community located in the West Bank submarket of the New Orleans MSA, an area defined by a stable workforce population and steady employment growth. The community has excellent visibility on Manhattan Boulevard, a high traffic retail corridor near shopping and dining, and 5 miles from downtown New Orleans.
- The asset was built in 1968 and significantly rehabbed in 1990 and 2007. The majority of the physical and interior rehab was completed in 2007, including new roofs, paint, new appliances, flooring, plumbing fixtures/upgrades, countertop and cabinet replacement/refurbishment.
- The property was converted to condominiums from 2007-2009 with $6M invested in the renovation. 5 units were sold but bought back by the current owner in 2013. The property has a final map and individually recorded deeds, but no longer requires an HOA as 100% of the units are owned by the seller.
- MKT / HUD. Purchased 2014.
