One of New Orleans’ most famous historic homes and haunted houses – the Lalaurie Mansion at 1140 Royal St. – is for sale for $10.25 million.
That makes the 9,800-square-foot home, with its eight bedrooms, private speakeasy and 2,000-bottle wine cellar, one of the most expensive properties in the city, priced at $995 per square foot.
Houston energy trader Michael Whalen has owned the nearly 200-year-old Empire-style mansion since 2010, when he bought it for $2.1 million. He spent more than twice that amount renovating the property, which he used for weekend trips into the city and as a place to entertain friends, according to a recent Wall Street Journal article.
Now he’s selling it and already has a buyer. Local broker Patrick Knudsen of Latter and Blum | Compass said that even before the exclusive property hit the market Thursday, an out-of-state investor heard about it “through the grapevine” and made an offer that Whalen accepted.
“It’s definitely good news and I hope it turns into great news,” said Knudsen, who did not disclose the amount of the offer. “I’ve been in the real estate business for 18 years and I know you can’t count your day before the day.”
Famous past, “sexy burlesque present”
In a city full of famous structures, the Lalaurie Mansion stands out because of its infamous past. Built in 1831, it was owned by wealthy socialite Delphine Macarty Lalaurie and her third husband, Dr. Louis Lalaurie. The couple were known for the lavish parties they threw for New Orleans’ most prominent families.
But in 1834, a fire revealed that Delphine Lalaurie had brutally abused, tortured, starved and chained slaves in the house. Lalaurie fled the city with her family. Later, according to reports of the time, the bodies of murdered slaves were found on the property.
The gruesome story has been retold in countless books and has made the house a stop on every ghost tour of the city. It was even the inspiration for a season of the FX series “American Horror Story.”
Over the years it has been remodeled, expanded, and used for many purposes, including a school and apartments. It was briefly owned by actor Nicholas Cage, who lost it to foreclosure in 2009.
Whalen bought it a year later and commissioned New Orleans-based designer Katie Scott of Houston to carry out his extensive renovation.
In 2018, Scott told Southern Home she wanted to create a “sexy, burlesque French Quarter feel – colorful with modern flourishes.”
A class of its own
Today, the main house is three stories high, with a four-story service wing. In addition to the many bedrooms and speakeasy, the house features two double parlors, a billiards room, wraparound balconies, and a rare, private rooftop deck with 360-degree views of the city.
It also features a two-car garage and, of course, an iconic French Quarter courtyard.
In a tight real estate market where homes are sitting on the market twice as long as they were two years ago, you might think the Lalaurie Mansion would be a tough sell. But Knudsen says the luxury market is unique and not nearly as vulnerable to cost pressures as other segments.
“Increased insurance premiums, higher taxes, mortgage rates, all of these things are going a long way to dampen the market overall a little bit, but they basically have no impact on the upper, upscale segment,” he said.
Priced at $10.25 million, the home is the second most expensive residential property for sale in the area, behind shipping magnate Boysie Bollinger’s 4,300-square-foot penthouse suite on the 30th floor of the Four Seasons, which is asking $19.5 million.
“These are two completely different types of properties,” Knudsen said. “I’m sure Lalaurie Mansion will set a record for a historic home in New Orleans.”
