re: Nola Four Seasons on the ropes

It will be figured out. They’ve sunk too much into it to let it fail, and too much has gone well to accept it as a total flop. Hotel occupancy is average and will get better as the Super Bowl approaches. Meantime, they’d be wise to lower their prices to be more competitive with their competition. The residences were going to be a stretch even when interest rates were low. They’ve sold two thirds of them, which is awesome for something that was ambitious from the jump. But it sounds like it’s the larger ones…the 3 bedroom units…that haven’t sold. Again, if they can secure the cash to get thru the next 18 months, some additional units may finally move after the Super Bowl.

As for Boysie’s penthouse. Well, I don’t think he’s going to be able to move it anytime soon at 19 mil unless Todd Graves or Gayle Benson is in the market.