David Gilmer, president with Sperry Van Ness/Gilmore Auction inKenner, LA, says the 1732 Canal St. hotel drew nine sealed bids fora dual-auction process. All bidders were invited to participate inlast week's final round. Gilmer is withholding the buyer's nameuntil bankruptcy court approves the sale. The hearing is slated forthis week.
"This was a challenging property to market from the standpointof its condition, age and environment," Gilmer tells GlobeSt.com.He says some offers came from developers interested in convertingthe hotel to senior housing or condominiums while others proposed atotal demolition and ground-up project.
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