Former Delmonico Building Sold for $1.2 Million
New Orleans real estate investor Hossein Talebloo has purchased the historic St. Charles Avenue property.
Updated on Oct. 13, 2026 in Commercial
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Local investor Hossein Talebloo has acquired the former Emeril's Delmonico building for $1.2 million. The iconic site, which served as a restaurant from 1895 until 2020, will be transformed into a live music venue.
Why it matters
The sale marks a major change for the historic 8,800-square-foot property after sitting on the market for more than four years. It reflects the broader trend of shifting commercial real estate use along the lower St. Charles Avenue corridor.
The 8,800-square-foot building at 1300 St. Charles Avenue sold for $1.2 million, equating to approximately $136 per square foot. This closing price represents a significant reduction from the initial $4 million listing price set by former owner Emeril Lagasse in 2021.
The players
Hossein Talebloo
A real estate investor and owner of multiple properties across the Garden District and downtown New Orleans.
Emeril Lagasse
A celebrity chef and restaurateur who purchased the Delmonico building in 1997 and operated it until 2020.
The details
The transaction follows years of price cuts for the historic structure, which has remained vacant since the Delmonico restaurant closed in March 2020. Hossein Talebloo, a developer with existing holdings in the Garden District and downtown area, intends to transition the space into a new live music venue. Renamed Sugar Loaf, the facility is slated to open for patrons in November 2026.
Timeline
1895: Delmonico restaurant began continuous operations.
March 2020: Restaurant closed due to pandemic.
2021: Emeril Lagasse listed the building for sale.
October 2026: Hossein Talebloo purchased the building.
November 2026: Talebloo plans to open Sugar Loaf venue.
The Home Front
This sale follows the documented trend of commercial redevelopment along the lower St. Charles Avenue corridor. The transition from a long-standing dining institution to an entertainment venue reflects shifts in local neighborhood commercial real estate usage.
Neighbors and those living in the nearby Garden District may see increased foot traffic and activity as the new venue prepares for its November launch. Homeowners in the area should monitor future zoning or noise permit applications related to the 1300 St. Charles Avenue address.
The takeaway
The sale of this iconic building signals a new chapter for the lower St. Charles Avenue commercial district. Residents should keep an eye on upcoming event schedules for the new Sugar Loaf venue to anticipate parking and traffic changes in the surrounding neighborhood.
What happens next
The owner plans to open the Sugar Loaf music venue at the site in November 2026.
Further reading
Learn more about local commercial shifts in New Orleans Commercial.
Source note: This article includes information reported by NOLA.
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