Enjoyed this article? Subscribe to our newsletter

Sidney Torres Buys Circle Food Store for $1.7 Mil


Photo courtesy of Infrogmation New Orleans

The iconic Seventh Ward landmark Circle Food Store was sold Thursday (April 25) for $1.7 million at an Orleans Parish Sheriff’s Office auction. Sidney Torres was one of the buyers.

The previously family-run grocery store located at 1522 St. Bernard Ave. closed last year after being in business since the 1930s. It was one of the oldest African American-owned grocery stores in the country.

The 22,000 square-foot grocery store reopened in 2014 after undergoing an $8 million renovation funded by a combination of loans and tax credits, including $1 million through the Fresh Food Retailer Initiative, a $1.7 million loan from First NBC Bank, and $4.4 million in tax credit equity.

The previous owner, Dwayne Boudreaux Jr. had been seeking bankruptcy protection, but the case was dismissed. Reports say that he had also filed suit against two family members who he accused of taking money from the store.

“There’s nothing else I can do now,” Boudreaux told The Advocate. “I’m all out of tricks.”

Sidney Torres is the controversial real estate mogul who hosts CNBC’s The Deed. He gained national attention for founding and funding the French Quarter Task Force, which sends armed, off-duty police officers to patrol the French Quarter, in March of 2015. While the force was originally self-funded, Torres turned over funding responsibilities to the City of New Orleans in a cooperative endeavor agreement in July of 2015.

The only other bidder on the property was the current debt-holder. Bidding began at $1.5 million and went through several back-and-forth bids until Torres’ offer of $1.7 million.

Before today’s auction, Torres said that he plans to keep the building as a grocery.


Jenn Bentley is a writer and editor originally from Cadiz, Kentucky. Her writing has been featured in publications such as The Examiner, The High Tech Society, FansShare, Yahoo News, and others. When she’s not writing or editing, Jenn spends her time raising money for Extra Life and advocating for autism awareness.

Help Keep Big Easy Magazine Alive

Hey y'all,

I just wanted to provide an update to where we stand today. A few days ago, we launched a fundraising effort to keep Big a Easy Magazine alive. We determined we would need to raise $10,000, which represents 1/10 of the personal investment I made into the publication. As it stands now, we have raised just over $300 and have set a fundraising deadline of midnight June 1st. Please help us meet our goal. I promise you with your support if we reach our goal, you will be able to continue seeing progressive content about the issues that matter. If we don’t meet our goal, well, in all honesty, those who have an interest in our demise will have won the battle. When we launched the fundraising effort, we got bombarded with remarks such as “see ya,” and “lol.” We cannot allow them to win. Please donate today to keep us alive and support progressive media.

Thank you,
Scott Ploof
Publisher
Big Easy Magazine


Time Left to Donate:

Share this Article

One thought on “Sidney Torres Buys Circle Food Store for $1.7 Mil

  1. It’s good to know this landmark apparently isn’t going to fall into further disrepair. i drove by i a week or so ago, and is that “abandoned look,” with of course the inevitable graffiti. Let’s hope Sidney stays true to his word AND that the city doesn’t let the pumping stations get out of control, yet again!

Comments are closed.