Strong Initial Sales at Ivana

According to Luke Chadwick, the director of sales for the Ivana Las Vegas high rise condo development, last Sunday's sales launch (where more than 487 units were sold) was good enough for the project to qualify for construction financing. Ivana Trump was there and even bought 2 units for herself.

Chadwick also predicted that the project would sell out in the next month as they start to intensify their advertising and marketing efforts. And of course marketing is everything in the high rise condo hotel business in Las Vegas.

However, no matter how good your marketing is, the project still needs to make sense in the long run and lets not forget the Ivana will cost in the neighborhood of $500 million to build. Therefore, condos in Ivana are not cheap, costing nearly $2,000 per square foot on the higher floored units. But the bottom line at this point is that buyers obviously feel this is a viable project.

Construction on Ivana Las Vegas is scheduled to begin next summer and conclude in December 2008. They've got some unexpected momentum going on with this project right now. Maybe this one's a winner after all.