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high rise condo hotels: Las Vegas Project CityCenter Making News With Grand Opening This Week - But Many Questions Remain - 11/30/09 05:58 PM
Bet you're wondering why I don't update this blog very often any more, right? Well, the truth is there really isn't any good news arising from the Las Vegas high rise condo market these days. That's about to come to an end however now that MGM Grand's Project CityCenter will be opening its doors this week to a long awaited and skeptical crowd.In fact, there's a very interesting article in yesterday's Las Vegas Review Journal that goes over City Center in great detail which anyone interested in the high rise market should read. For the most part, the article portrays a … (3 comments)
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high rise condo hotels: Article on Las Vegas High Rise Condos Says It Best - Maybe - 08/04/09 01:24 PM
The Las Vegas Review Journal recently published an article regarding the status of the high rise condo market here in Las Vegas. You can read the article here.I've heard all the jokes: What does the Las Vegas high rise market and Michael Jackson have in common? - they're both dead. And other jokes along those lines. What are your feelings regarding Las Vegas real estate today on August 4th, 2009? Is there any hope?I was wondering if you could take time out of your day, read the article, then "Tweet" any comments you may have on my newly created Twitter account. … (0 comments)
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high rise condo hotels: Video Showcases Las Vegas Luxury High Rise Living in Park Towers and More - 02/13/09 02:58 PM
We just created a video last night with a very strong agent in my office, Robert Sibulkin, which was shot at Park Towers, an extremely exclusive high rise located at the Howard Hughes Business Center.The unit is on the market for just over $3 million dollars. Just watch the video with the great Las Vegas Strip views in the background and you'll get an idea what Las Vegas high rise living is all about!View the video hereAre you ready to reap the benefits of all your hard work and start living the Las Vegas high rise lifestyle in complete and total … (2 comments)
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high rise condo hotels: Elvis, Liberace, and the Condo Hotel Concept are all Dead in Las Vegas as High Rise Rentals Quickly Becoming New Trend - 01/29/09 02:03 PM
High rise condo hotel developers are painfully finding out what the whole Las Vegas high rise market knows already: the condo hotel concept is dead in this town right now. Between what prices for these units began at and the tightening of the credit markets which make financing them almost an impossible task, high rise condo hotel developers need to start thinking out-of-the-box to avoid having their towers sit empty for a long, long time. As such, some (such as Trump) are beginning to rent their unsellable units instead, which is a pretty smart move rather than have to admit the … (1 comments)
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high rise condo hotels: Good News and Bad News Regarding the Fontainebleau Las Vegas High Rise Condo Hotel Project - 12/17/08 06:55 PM
Here's the good news regarding the Fontainebleau high rise condo project: their preview center opened last week and officials for the $2.9 billion mixed-use development say their 3,815-room project is on schedule and will be ready to open in less than a year. That's pretty good news, if you can believe it.Here's the problem: according to an article published today in the Las Vegas Review Journal, the project officials have not made themselves available for interviews and are issuing these rosy statements via company spokespeople. That's not good. Something's up with that, I think - and that's the bad news. After … (0 comments)
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high rise condo hotels: Think you can close on that Las Vegas High Rise Condo? Not So Fast... - 10/14/08 05:24 PM
It doesn't matter how rich you are these days - securing a mortagage for a Las Vegas high rise condo is getting harder and harder, even for those with no credit issues. For example according to a report by Duestch bank, closings at Trump are now at a horrendous 21%, while Palms Place is reporting closing at a 57% clip. And why? Lenders are now asking for 50 percent down on their high rise condo deals, and that option's only available for those with excellent credit to begin with. With interest rates on 30-year fixed on a condo-hotel going as high … (0 comments)
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high rise condo hotels: Las Vegas Cosmopolitan High Rise Condo Hotel Buyers Not In Limbo Any Longer - 09/09/08 12:20 PM
Las Vegas has already seen it's share of high rise condo projects that have come and gone. But none have had the staying power of controversy that's been associated with the Cosmopolitan project. One day it's dead. The next day it's back on. The owners change, the financing comes and goes, the rumors persist that someone will step in and build it to completion, then the project's dead again.No question condo unit buyers in this building have every right to feel like they're riding a very expensive roller coaster ride.However, the latest news on this project is actually quite good as … (0 comments)
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high rise condo hotels: Las Vegas Palms Place High Rise Condo Studio Units Available - Owner Can't Close!!! - 09/05/08 06:45 PM
What does it mean when a high rise condo Buyer in one of the "hippest" Las Vegas high rise condo projects can't close on their units due to an inability to obtain financing in this crazy market? It means YOU get presented with some MAJOR buying opportunities.How about a 26th floor, 674 square foot high rise condo unit at Palms Place with a gorgeous Strip view for $653,260!?!?!Or a 34th floor studio with views of the mountains for just $525,300.Why so low? These prices are based on "employee discounts". If you've done your high rise condo shopping and have studied what's … (0 comments)
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high rise condo hotels: "M" Stands for "Movement" with Las Vegas High Rise Condo Hotels - 08/14/08 03:11 PM
Boyd gaming may have pulled the plug on their Echelon project until the economy improves, but not all high rise projects in Las Vegas are taking that same approach. Case in point: Anthony Marnell III's $700 million "M" project is fully funded and heading on schedule towards an early 2009 opening.The 11-story M Resort, located on the South Strip at St. Rose parkway and Las Vegas boulevard, will consist of 390 rooms and suites; 90,000 square feet of gaming; 40,000 square feet of meeting and convention facilities; a wine cellar and tasting room; a top floor lounge; 9 restuarants; and a … (0 comments)
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high rise condo hotels: Vegas Hot Sheet - Bank Owned Las Vegas High Rise Condo Units, Distressed Sales, and Deals - 07/02/08 07:12 PM
Here's the latest "Real Steal Deals" (RSD) that we've found for those of you looking for that perfect Las Vegas high rise condo bargain: (use the navigation arrows at the bottom left portion of the screen to cycle through information for each property)
Metropolis high rise condo RSDs:
- 17th floor, 1783 square foot, 2 bedroom 2 bath for $585K- 5th floor, 2377 square foot, 3 bedroom 2 bath for $585K- 4th floor, 2252 square foot, 2 bedroom, 2 bath for $569K- 5th floor, 877 square foot, 1 bedroom, 1 bath for $399K
Sky Las Vegas high rise condo RSD: 13th … (2 comments)
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high rise condo hotels: Publishing Company Says "No Go" to Las Vegas High Rise Condo Hotel Project Name - 06/21/08 02:54 PM
Does the Cosmopolitan High Rise Condo project in Las Vegas need any more bad news? Of course not, its had its share of that already.But according to the Las Vegas Review Journal, lawyers with nothing better to do have now decided that the name "Cosmopolitan" is a trademark infringement according to The Hearst Corp., publishers of the Cosmopolitan magazine. They claim the Cosmopolitan developers (whoever they are these days) are using the Cosmo name to enrich their product into deluding the public into thinking the high rise project is associated with the magazine. Perhaps the Hearst Corp hasn't been reading this … (3 comments)
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high rise condo hotels: We've Done all the Las Vegas High Rise Condo Work - You Reap The Rewards - 06/16/08 05:03 PM
Over the past few days, we've been searching the entire Las Vegas marketplace for what we consider "real steal deals" (RSD's) and we've uncovered the following:Here's the latest bargain condo unit at Panorama high rise condos: 11th floor, 1 bedroom, den, 1 1/2 bath, 923 square foot unit at Panorama for $415,000. Get more information hereOr if you'd prefer a high rise condo unit at Sky Las Vegas, here's one on the 13th floor - It's a spacious 1 bedroom, 1 bath, 778 square foot "never been lived in" Las Vegas strip condo facing the new Fountainbleu Resort with great city … (0 comments)
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high rise condo hotels: 16th Floor Las Vegas High Rise Condo Hotel RSD - 06/06/08 08:01 PM
That's right - there's a "Real Steal Deal" (RSD) on a 16th floor, 1 bedroom, high rise condo hotel unit at the Platinum condotel which I just toured myself this morning. At the price-points that most of the condo hotels in Las Vegas are selling for, you'd be hard pressed as an investor to positive cash flow your unit out. However, there are some units at the Platinum that make me believe this is possible.
The unit I toured this morning is going for $319,000 which is an amazing price for a condo hotel in Vegas, especially on the 16th floor … (0 comments)
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high rise condo hotels: Guess the High Rise Condo View, Part IV - 06/02/08 04:34 PM
It's been a while, so let's play it again. Back by popular demand, It's called "Guess the View". Can anyone tell me the name of the Las Vegas high rise condo project where this rooftop picture was taken:
As a post-script to this photo, I have to tell you I just recently toured this high rise building and found it to be outstanding! In addition to having great views of the city (as you can tell), this project has just begun to close units to those who originally reserved units 2 years ago.What makes this project different from the rest … (0 comments)
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high rise condo hotels: Going, Going... Eichner's Gone (from the Cosmopolitan High Rise Condo Project in Las Vegas) - 05/16/08 12:34 PM
According to an article written by Jennifer Forsyth and published in the May 9th edition of the Wall Street Journal, Cosmopolitan "developer" Ian Bruce Eicher and representatives of Deutsche Bank were in discussions that were expected to end with Eichner surrendering all involvement with the Las Vegas high rise condo development.As many of you know, this wouldn't be the first time this happened to him - as he was forced to give up his empty tower in New York's Times Square sixteen years ago - and most incredibly, probably won't be the last. But you have to hand it to him … (0 comments)
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high rise condo hotels: Las Vegas High Rise Condo at Sky Las Vegas Will Not Last Now That Market's Bottomed Out - 04/28/08 04:19 PM
Guess what folks? It looks like the Las Vegas Market finally hit rock bottom in the end of January, at least according to the April Economy in a Glance in In Business Las Vegas. In fact, I just heard about how one real estate office in town wrote up seventeen offers during the weekend. Rumor also has it that Steve Wynn's $18M Crown Jewel estate home received a full price offer as did a The Falls in the Ridges estate at $17.5M.Local economists are saying the cherry-picking is almost over. Yes there are thousands of foreclosures in Vegas, but word has … (0 comments)
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high rise condo hotels: Dam the Economy! - Full High Rise Development Ahead! - 04/23/08 07:42 PM
In a time when most developers are afraid to move forward with even the smallest project, Frank and Lorenzo Fertitta - perhaps the 2 most forward-thinking businessmen in Las Vegas - are actually accelerating their plans to build an high rise resort project in Las Vegas that'll be even larger than CityCenter!So while most low-paid Review Journal and Las Vegas Sun writers, along with salaried 40-hours per week economic experts continue to write about how bad Las Vegas is, the BILLIONAIRE Fertitta brothers are betting big with plans to redevelop the 110-acre site of the Wild Wild West on Trop and … (0 comments)
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high rise condo hotels: High Rise Condo Investment Portfolio Available for Institutional Investors, Large Investment Groups, or REITS - 03/21/08 07:18 PM
My office has been made privy to an investment package consisting of 103 Las Vegas high rise condo units that are currently in foreclosure/short-sale status. The package includes lofts, 1 bedrooms, 2 bedrooms and penthouses in a variety of very high profile Las Vegas Strip high rises. Today's total market value of this portfolio according to the bank is just under $65 million dollars and they are offering the entire package ideally to institutional investors, large investment groups, and REITS for $42 million, which translates into almost a 36% discount to market for a large portfolio of Las Vegas high rise … (2 comments)
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high rise condo hotels: 57th Floor Trump Las Vegas Studio for Just $650K? No Way! - 03/03/08 03:12 PM
Yes, way!Folks, here's perhaps the best deal you'll possibly find at Trump Las Vegas. I have access to a 57th floor Studio condo that you can now buy for a bargain basement price of just $650,000. Yes, that's the 57th floor. Yes, that's at Trump Tower. Yes, that is the best price you'll find anywhere. In fact, I have TWO of these 57th floor units available right now at that price - first come, first serve. Now, I understand there are many of you would-be condo buyers waiting to see what may happen in the Las Vegas high rise condo resale … (0 comments)
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high rise condo hotels: Narreia Weighs in on Las Vegas High Rise Condos and the Las Vegas Real Estate Marketplace - 02/20/08 01:00 PM
As Sean Brown indicates in his latest Las Vegas market conditions report (updated today 2/20/08), there's no doubt the hottest topic in Las Vegas real estate today is the luxury high rise condo marketplace. We all know the numbers by now - 20,000 units approved and 50,000 proposed - and despite a warning NOT to buy a Las Vegas high rise condo with the intention of flipping the unit at closing for a quick profit, Mr. Brown still has some kind words to say about this significant market sector.His report is an interesting read. You'll get a really good indication of … (1 comments)
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Ron Costa
Las Vegas,
NV
More about me…
ALL Vegas Valley Realty
Office Phone: (702) 336-5554
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