What's been rumored for the past 2 weeks has finally been confirmed - the Krystle Towers Condo Hotel project, formerly known as Krystle Sands has been sold to Turnberry.
Turnberry principal Jeffrey Soffer said he's entered escrow to purchase the property for an undisclosed price, which is believed to be in the $85 million range. Not bad for Krystle Sands developer Freddie Schinz, who purchased the property back in July for $26 million.
The Krystle Towers website indicates that futher detailed information will be forthcoming in the next 7 to days 10 days. In the meantime, it seems certain that those who've purchased units in the project will have their monies refunded from title.
How this will affect the other high rise projects in town is unclear, but the smart odds here say Las Vegas is still a High Rise Condo Hotel town regardless of the outcome of this situation.
Friday, March 25, 2005
Wednesday, March 23, 2005
Project ICON Availabilities
"In the city of legends, a new icon emerges." That's the slogan for another one of Vegas' High Rise Condo projects called "Icon". Located just a bit north of Steve Wynn's new casino/resort and walking distance to "the strip", the Icon project calls for 2 towers with floorplans that actually give you a decent amount of square footage for your money.
It's one of the few high rise projects in town that's offering 1, 2, and 3 bedroom options. With an August '05 anticipated breakground date, just about all of Tower I has been reserved with Tower II units taking reservations starting in the first week of April.
If you'd like to reserve a unit for this release, please let me know as I'm forming an interest list at the moment for this project. In the meantime, Tower I still have the following availabilities: one bedroom units on the 47th floor, 2 bedrooms on the 7th or 46th floor, or 3 bedroom units on the 7th, 9th, 10th, and 20th floors.
The best part of this project looks to be the view. All units face south with an absolute amazing "postcard" view of the city. Pricing starts at $667,000 for the one bedrooms and go well into the high $900,000's based on your floor level, which in this town, is actually a pretty decent price point.
Check it out for yourself at their office grand opening party on March 31st, 2005. Or visit www.VegasNNN.com for more information on how you can get into this project as an owner occupant or investor.
It's one of the few high rise projects in town that's offering 1, 2, and 3 bedroom options. With an August '05 anticipated breakground date, just about all of Tower I has been reserved with Tower II units taking reservations starting in the first week of April.
If you'd like to reserve a unit for this release, please let me know as I'm forming an interest list at the moment for this project. In the meantime, Tower I still have the following availabilities: one bedroom units on the 47th floor, 2 bedrooms on the 7th or 46th floor, or 3 bedroom units on the 7th, 9th, 10th, and 20th floors.
The best part of this project looks to be the view. All units face south with an absolute amazing "postcard" view of the city. Pricing starts at $667,000 for the one bedrooms and go well into the high $900,000's based on your floor level, which in this town, is actually a pretty decent price point.
Check it out for yourself at their office grand opening party on March 31st, 2005. Or visit www.VegasNNN.com for more information on how you can get into this project as an owner occupant or investor.
Monday, March 14, 2005
Vegas' Newest High Rise Project - The Curve
Developer Edward Kile just introduced his latest high rise project: a 42 acre development at the I-215 curve in southwest Las Vegas Valley as a master planned mixed-use suburban village. "The Curve" is being designed for two 18-story condominium towers with 376 units, 115,885 square feet of retail space, including 12 restaurants, and 61,000 square feet of office space above the retail.
While the $200 million first phase construction financing is way down the road, the project has already been approved by Clark County. Groundbreaking on the project is scheduled to begin later this year, with completion of the first buildings in the late 2006 timeframe.
DINKS (dual income, no kids) in the 35 to 60 year old range are the prime target demographic for this project, with condo units starting at $385K for 1,100 and 2,025 square foot floor plans. The idea is to attract the type of person who wants to work and live in Las Vegas - not the second and third home investor.
There are plenty of similar projects in the works here in Las Vegas. In the Northwest valley, Centennial Springs is currently under construction on 41 acres while the 38-acre St. Rose Village is being planned in the Southeast. Likewise, the 200-acre Montecito Town Center is being developed in the Centennial Hills area while a 25 acre site is being worked on by Harmon Avenue.
We are currently forming an interest list regarding "The Curve". If you'd like to be included on the list, please visit www.VegasNNN.com or send an email to ron@vegasNNN.com
While the $200 million first phase construction financing is way down the road, the project has already been approved by Clark County. Groundbreaking on the project is scheduled to begin later this year, with completion of the first buildings in the late 2006 timeframe.
DINKS (dual income, no kids) in the 35 to 60 year old range are the prime target demographic for this project, with condo units starting at $385K for 1,100 and 2,025 square foot floor plans. The idea is to attract the type of person who wants to work and live in Las Vegas - not the second and third home investor.
There are plenty of similar projects in the works here in Las Vegas. In the Northwest valley, Centennial Springs is currently under construction on 41 acres while the 38-acre St. Rose Village is being planned in the Southeast. Likewise, the 200-acre Montecito Town Center is being developed in the Centennial Hills area while a 25 acre site is being worked on by Harmon Avenue.
We are currently forming an interest list regarding "The Curve". If you'd like to be included on the list, please visit www.VegasNNN.com or send an email to ron@vegasNNN.com
Tuesday, March 08, 2005
Liberty Towers Preview
Liberty Towers will hold its first public release of its high rise units this Friday, 3/11/05 at their sales center on the corner of Las Vegas Blvd and Sahara Ave. This release is targeted to real estate agents who may have clients interested in reserving units.
Libery Towers is a 21-story, 132 unit condo project located in close proximity to the Stratosphere. The units are not furnished, but all have balconies and 10 foot ceilings along with 1115 and 1462 square foot living area in 2 bedroom / 2 bath units. They'll also have an entertainment area where you can watch the likes of Hilary Swank in Million Dollar Baby when it comes out on DVD!
They're looking to break ground this July/August with completion anticipated by early '07. First phase pricing is starting in the mid $600,000's.
To reserve, they need a fully refundable $10,000 check made payable to "Equity Title". Then, at contract, they require 10% of the unit amount down with another 10% due at breakground.
I will be attending this event and would be happy to reserve a unit for anyone interested in investing in this project. Once again, this is the first public release of the building and I do believe there is money to be made here with this project.
For more information, visit their website: http://www.libertytowervegas.com
If interested, please send an email to Ron@vegasnnn.com or visit the www.vegasnnn.com website. Thanks...
Libery Towers is a 21-story, 132 unit condo project located in close proximity to the Stratosphere. The units are not furnished, but all have balconies and 10 foot ceilings along with 1115 and 1462 square foot living area in 2 bedroom / 2 bath units. They'll also have an entertainment area where you can watch the likes of Hilary Swank in Million Dollar Baby when it comes out on DVD!
They're looking to break ground this July/August with completion anticipated by early '07. First phase pricing is starting in the mid $600,000's.
To reserve, they need a fully refundable $10,000 check made payable to "Equity Title". Then, at contract, they require 10% of the unit amount down with another 10% due at breakground.
I will be attending this event and would be happy to reserve a unit for anyone interested in investing in this project. Once again, this is the first public release of the building and I do believe there is money to be made here with this project.
For more information, visit their website: http://www.libertytowervegas.com
If interested, please send an email to Ron@vegasnnn.com or visit the www.vegasnnn.com website. Thanks...
Monday, March 07, 2005
Welcome to My Las Vegas High Rise Condo Hotel Blog
With almost 50 High Rise projects in the works in Las Vegas, this is the blog to come to for unbiased information on the entire Condo Hotel Vegas market. For starters, I've organized the industry into 4 distinct categories. They are the following:
- High Rise Condo / Hotels
- High Rise Condos
- Mid-Rise Condos
- Lofts
Depending on what your intent is determines which project you should be looking at. This blog is all about each individual project and the latest news pertaining to the industry. For now, suffice to say you'll make out quite well whether you're looking for a place to live in full time, or looking to use the hotel aspect of the high rises for investment purposes.
My advice? Act now... do your homework - and visit this blog often. You'll soon become an expert in the industry as well as you use the information found here to aid you in your real estate money making pursuits.
In the meantime, view my official website at www.vegasnnn.com for more information and investment opportunities in the greatest city in the world - Las Vegas!
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