The Martin Condos-Las Vegas Luxury High Rise Near the Strip
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The Exciting World of Las Vegas Strip Real Estate in the High Rise Condo sector is vibrant and all market trends are signaling the bottom is in. Whether we are heading up the right side of a parabolic curve, or a middle leg of a W curve remains to be seen in this election year.
THE MARTIN Condos in Las Vegas are housed in a 45 story blue glass high rise tower located just across the I-15 freeway and adjacent to The Harmon Overpass. Having completed a $3 million dollar renovation, sales velocity has been signficant and could be a harbinger of good thing to come for Las Vegas Strip Area real estate. The Martin has sold about 30 luxury condos in 45 days, with 10 closings in July. The Stark Team represented buyers in the purchase of upwards of $1 million dollars of Martin Condos Sales in July on high floors. High Floor Luxury Condos with right on Strip Views are a rare commodity and the price per square foot that these condominiums are now selling for is below reproduction cost.
What is fueling the sales velocity at THE MARTIN? Firstly, The remodel has finished and the photos below will show you some of the results. Secondly, The Martin has one of the lowest HOA dues structure of any high rise condo building in Las Vegas at about 50 cents psf/month. Nextly, resale inventory in other high rise condos along the Strip Corridor in quite thin, and the sister towers next door, Panorama Towers 1 and 2 were the subject of a construction defect lawsuit that has been settled and the condos there will be renovated by the HOA to address any issues uncovered in the lawsuit. Buyers of Panorama Towers will need to do a good job of Due Diligence and go into a purchase there with eyes wide open. It is easier to Buy A Brand New never Lived in Condo, avoid the hassle, & pay lower HOA dues!
If you are thing of making an investment in a slice of Las Vegas Strip Real Estate, we would welcome the opportunity to consult with you and represent your interests. The Stark Team offers experts Buyer representation at no cost to you, and Elite Realty has full Property Management Services at low rates and offices on both sides of town. We also have a team of designers, personal shoppers, handymen, to help facilitate customizing and furnishing your Las Vegas Properties. Check out the photos below and give us a call at 702 376-5220 or 702 236-8364. We look forward to hearing from you soon!
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