$29,737,500 in bridge financing for
The Garage, a newly redeveloped Class A mixed-use property located in the trendy Arts and Warehouse District of New Orleans, Louisiana.
The Garage
Originally built in 1951, The Garage was formerly an automobile dealership and parking structure, known as Stephen s Garage. Today, the five-story property includes 51 multifamily apartments, 11 penthouse units, and 20,940 square feet of ground floor retail. The property maintains unique, industrial features, such as two car elevators that allow residents to park in front of their respective units.
The property was acquired in July 2008 by Wisznia Architecture + Development, a multi-disciplinary, full-service design and development firm with over 70 years of continuous practice. Wisznia is the architect, developer, and property manager of The Garage. Completed in December 2019, the multifamily portion of the property is currently undergoing lease-up and had reached 60 percent occupancy at the time