Stone Pigman Serves as Counsel for $24.5 Million Metairie Towers Transaction

The $24.5 million sale of the former Metairie Towers Condominiums closed earlier this month with Stone Pigman serving as counsel for over 200 sellers as well as the condominium association.  The sale was the first of its kind under a new Louisiana partition law and required a team of transactional and litigation lawyers.  Our work included a bench trial in June that was part of a complex, multi-faceted process to authorize the marketing and sale and transfer clear title to the purchaser. In addition to blazing a trail through a new legal landscape, the Stone Pigman team worked closely with the real estate broker to help manage a months-long bidding and selection process for potential buyers, which resulted in the sale price that was $2 million over the property's appraised value.     

Scott Whittaker, Ed Bukaty, Will Mizell, and John Myles comprised the transactional team for this matter along with litigation attorneys Dorothy Wimberly and Fritz Metzinger.