Local Investors Acquire Site of Stalled Drive Shack Project

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Photo courtesy of SVN | Urban Properties

NEW ORLEANS – SVN | Urban Properties announced that it 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 a separate 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.”

Flite Golf & Entertainment is the primary technology and operations consultant on the $40 million project. Architectural, engineering and construction teams will be announced shortly. Dubbed 504 Golf, the site is scheduled for a spring 2024 opening. 

Categories: Dining/Entertainment, Real Estate, Today’s Business News