SVN | Urban Properties Assists in the Acquisition of Howard Avenue Site

New Orleans (November 30, 2022) – SVN | Urban Properties, a New Orleans-based commercial brokerage, property management and development firm, represented the buyer of the former Times-Picayune site at 3800 Howard Avenue, where Drive Shack had begun construction on its now stalled project.

Advisor Sam Hurley and Eugene Schmitt, Managing Partner at SVN | Urban, represented the buyers, brothers Alex and Nick Xiao, who plan to develop an entertainment golf concept. “I am grateful for the opportunity to advise the Xiao brothers on this complex transaction,” said Hurley. “I have been very impressed with the brilliant team they have assembled to develop this iconic site, which will become the gateway entrance to our CBD. This concept will be first class in technology, entertainment, and cuisine all built on a local flair.”

This acquisition is a starting point to develop a fully-integrated entertainment concept for the city. Flite Golf & Entertainment is the primary technology and operations consultant on the project with the architectural, engineering, and construction teams to be announced shortly. The $40 million project is called 504 Golf with plans to open as early as Spring 2024.