News & Views of Las Vegas

Palms Place Luxury Condo For Sale!        

Palms Place is the success story of the Las Vegas luxury condominium market.  If you would like to become part of the “lifestyes of the rich and famous” in Las Vegas, you can purchase this beautiful 1,200 square foot Palms Place condo that is listed at $775,000.  Many residents are celebrities, while some are local and international buyers who were looking for a Las Vegas vacation home or Las Vegas investment property.

Maloof Brothers Succeed at Palms Place!

Several Las Vegas luxury condo projects have been postponed or have cancelled, but the Maloof brothers seem to have what the luxury condo market requires — a celebrity audience, upscale amenities, name recognition and the financial ability to have built this beautiful property and opened on time.  The 47-story luxury high rise features 599 suites, and is attached to the famous Palms Casino by an enclosed, elevated “SkyTube” that moves residents to and from their condos on moving walkways. Read the rest of this entry

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Cosmopolitan Resort On Schedule!

The Cosmopolitan Resort and Luxury Condominium developent will be completed!  The development has encountered several challenges during the past several months, with its future uncertain.  But construction has continued to progress and the property will open, while several other Las Vegas strip condo projects have postponed or cancelled.  The $3.9 billion property was being developed by Bruce Eichner, who recently defaulted on his construction loans.  At that time, the future of the development was uncertain.  Hyatt Corp invested substantial money into the project, and the Global Hyatt brand of hotels will manage the Cosmo’s hotel rooms.

New Owner

Deutsche Bank took over the property and has hired The Related Cos., New York, as owner’s representative.  The original general contractor is still involved, and the property is scheduled to open in December, 2009.  Plans for the complex are much like the original scheme for two 600-foot towers with 2,998 hotel and condo-hotel units atop a four-level retail, casino and entertainment podium.  Approximately 80% of the 1,825 condos have been sold, with sales totaling more than $1.35 billion.

Deutsche Bank will most likely sell the property upon its completion.  The completion of The Cosmopolitan is great news for the Las Vegas economy, with so many of the Las Vegas Strip projects like Echelon Place and The Plaza being postponed or cancelled.   The Cosmopolitan is a great addition to the luxury high-rise resort and condominium market in Las Vegas.  If you would like floor plans, pricing and current availability, contact Las Vegas Homes and Condos at 1-888-876-8383 or email terrilvp@cox.net.

CITY CENTER ANNOUNCES RESORT CASINO

CityCenter has announced the name of its unique resort casino, scheduled to open in late 2009. ARIA, the resort casino, will form the core of CityCenter, the exciting vertical city that is under construction on the Las Vegas strip, between Bellagio and Monte Carlo resorts. City Center will also feature The Harmon Hotel Spa & Residences; Vdara Condo Hotel; Veer Towers, a residential high-rise; The Crystals, which is a 500,000 square foot retail and entertainment district. CityCenter if a joint venture between MGM Mirage and Dubai World.

AIRA RESORT CASINO

Aria, according to MGM executives, will introduce “a new generation of resort experiences” to the Las Vegas market. ARIA will include two curvilinear glass towers, revealing clean use of natural elements, lush foliage, wood and stone. Open spaces include A three-story lobby and casino, which will fill with natural light. Unique art and interior design will fill the guest rooms and public space.

ARIA will host a collection of lounges, bars and nightclubs; a luxurious spa offering a complete menu of skincare, massage and hydrotherapy treatments, three spa suites designed to accommodate couples’ treatments and small parties. The spa’s balcony will overlook the resort’s beautiful pool.

The contemporary architecture will offer 4,004 guest rooms, including 568 suites. Guest room corridors will open to areas of enclosed glass, providing beautiful views of the Las Vegas mountains and city. The entertainment certerpiece of ARIA will create a production celebrating the musical legacy of Elvis Presely, which is a perfect choice for Las Vegas.

MGM CityCenter is scheduled to open late 2009, and is sure to be the most exciting mixed-use, luxury high-rise condominium development to become part of the Las Vegas lifestyle. There are still condos available for sale; if you would like prices, floor plans and availability, contact Las Vegas Homes and Condos at 1-888-876-8383 or email terrilvp@cox.net. (Scenes and improvements are not within the project, are proposed, artist’s renderings only and NEED NOT BE BUILT. Plans, architectural renderings, specifications, pricing and locations are subject to change without notice. © Project CC, LLC. Unauthorized use of the images, artist renderings, plans or other depictions of CityCenter is strictly prohibited.)

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In the midst of the real estate “slump” and long list of cancelled luxury condo projects, a few Las Vegas luxury condo developments continue to thrive.  Palms Place luxury condominiums in Las Vegas is one of the success stories of the Las Vegas luxury condominium market that started in 2006. Several of the new residents of the famous Palms Place are the “rich and famous,” but many are local and international buyers looking for a vacation home.  Some want to own a Las Vegas luxury home for those times that they visit, since they are able to take advantage of the finest amenities and services offered by any Las Vegas resort.  Palms Place had a unique and very successful marketing plan that attracted luxury condo buyers from around the world, some as homeowners and some as investors.

 In the midst of a “credit crunch” and declining property values, several Las Vegas condominium projects have cancelled.  Some condo buyers in Las Vegas are still awaiting their earnest money deposit refunds, while others have received refunds, but are still disappointed that their new luxury condos will not be built.  And, with other condo owners in litigation over the rental pools at the MGM Signature, possible delay of Cosmopolitan Condominiums and Mira Villa’s bankruptcy, Palms Place condo buyers are excited and happy to be closing escrow.

Maloof Brothers Succeed at Palms Place

The Maloof brothers seem to have what the luxury condo market requires - a celebrity audience, upscale amenities, name recognition and the financial ability to have built the property and opened on time.  The 47-story luxury high rise  features 599 suites, and is attached to the popular Palms Casino by an enclosed, elevated “SkyTube” that moves residents to and from their condos on moving walkways. 

The 520-foot tower offers 600 square foot studios, 1,200 square foot one-bedroom units and 21 penthouse condos that range from 2,000 to 7,000 square feet.  The tower features a 50,000 square foot pool and spa complex, a Turkish bath treatment and Sunset Tan studio.    Studios start in the $600,000’s and penthouses are priced as high as $5 million.

Condo owners can enter into the hotel rental program, whereby owners will receive 50% of the rental money under subleasing agreements with The Palms.  Palms guests will be able to use the Drift Spa at Palms Place, which has a separate staff facility.  Guests will also be able to enjoy The Simon Restaurant and Lounge.  There are cabanas for rent and the pool are also features waterfalls and fire pits.

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