Three people inside the home, plus an elderly poodle, escaped the fire without injuries, homeowners Anne and Bill Grace told the Times-Picayune.
“Unfortunately, it is a catastrophic loss,” New Orleans Fire Department Superintendent Timothy McConnell told the newspaper.
McConnell said the fire, which was reported at 7:44 a.m., apparently was ignited in the basement of the home. The cause of the fire has yet to be determined, the Times-Picayune reported.
The house was built in 1888 for John Morris, founder of the Louisiana Lottery, according to the website, Experience New Orleans. Anne Grace's great-grandfather, Robert Downman, bought the house in 1906 and called it the Downman Mansion. The house has been home to six generations of Grace's family.
"She was a grand old lady that served us so well," Anne Grace told the Times-Picayune. "I'm just in shock. This was such a part of New Orleans history."