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Tuesday, November 29, 2005

ICON Currently Selling Tower II

How's this for a sales pitch? No matter where you buy in the building, your unit will face south overlooking the Las Vegas strip! That's what you get, among other amazing amenities, with the ICON Las Vegas high rise condos. They haven't been in the news much lately, but let's not forget this is a solid project to get into.

The Related Las Vegas Group, developers of the ICON Las Vegas high rise condo project, are now selling units in their second tower. When the project's complete, ICON will showcase tow 49-story towers with 514 resicential units to go along with 40,000 square feet of retail space.

Located at Convention Center Drive, just steps from Las Vegas Boulevard, ICON floor plans range from 972 to 1,824 square feet and are priced ranging from the $600Ks to more than $1 million. Of course those numbers are a lot higher than they were for those heeding the advice of this blog and bought into the first tower and are already looking at significant appreciation.

If you're looking for a high rise located on the central Las Vegas strip, you can't go wrong with ICON - so get in on the second tower now while availabilities last.

Monday, November 28, 2005

Residences at MGM Moving Forward Quickly

Does it surprise anyone that the Residences at MGM are ahead of schedule for all three of their Las Vegas high rise condo hotel towers? It shouldn't, since this project combines all of the ingredients of a successful high rise investment opportunity: strong developer; great track record; price-points that work; and great location.

Towers I and II are sold out - and Tower III's about 70% sold as well to a total of 1,727 units. With all the amenities this project provides, again it's hard not to be surprised.

Fully furnished studio, one and two bedroom suites offer crown molding, raised-panel wood doors, high speed data connectivity, granite counter tops, imported Italian kitchen cabinetry, private closets for owners, sub-zero refrigerators, Miele appliances, baths with spa tubs and flat-screen HDTV's. With 24-hour front desk and concierge services, room service, a guarded security entrance, private fitness center, swimming facilities AND with access to all the MGM's world-class resort amenities, I challenge you to find a better overall high rise project currently in town today.

And here's the best news: you can get into this at pricing starting from $550,000. Like I've said time and time again - this is about the only strip project in town that makes sense from a condo-hotel perspective for the small investor. And if you don't believe me, contact me and we'll do the numbers together and I'll prove it to you!

Friday, November 25, 2005

Why it's Good to be a High Rise Condo Hotel Developer

Here's a quick formula on how to make a ton of money: Buy 12 acres on Tropicana Avenue just west of the strip and wait 20 years. Then get your entitlements in place for a mixed-use condo development and watch your land value soar from $6 million to about $30 million almost overnight. That's what the Falcon Group, developers of the $650 million Pinnacle high rise condo project, did on the site of the old Falconi Honda and Acura dealership.

With no debt service on the land, getting construction financing was easy for the 410-foot, 36 story towers, which will have 1,095 condo units starting from the high $300Ks. The final site development plans are still being reviewed by the county, and although no contractor has yet to be hired, construction plans are currently being drawn up.

If you're interested in being placed on an interest list that's forming, let me know. In the meantime, go out there and buy yourself 12 acres of land - you'll thank me in 2025.

Wednesday, November 23, 2005

High Rise Condo Craze Claims Another Casino Victim

Another piece of Las Vegas history shut its doors for good last week when the Westward Ho closed down to make way for the building of an "Observation Wheel" on the Las Vegas strip which will be part of another master planned high rise resort to be built on the property.

Centex Destination Properties, one of the nation's leading builders operating in more than 90 U.S. markets in 25 states, has agreed to a purchase-and-sale agreement as managing partner of an established limited liability company that will purchase the property.

When the conga line of employees danced their way out of the historic Las Vegas Strip property around 5 p.m., they ended 40 years of business. And while I'm all for tradition, the bottom line is the Westward Ho really just became an eyesore on the strip and its time had passed. The property's in better hands with Centex - and I can't wait to see the artist renderings of this one!

Friday, November 18, 2005

Will Rocket Man Buy Las Vegas Condo Hotel Penthouse?

Nothing's for sure - yet - but it seems as if Elton John is interested in investing in the top-floor 35 million dollar penthouse of the Ivana Las Vegas high rise condo hotel.

"The cockpit", as the 20,000 square foot top floor of the Ivana is being referred to as, will be the highest penthouse west of the Mississippi consisting of 9 bedrooms and will also be equipped with a state of the art recording studio - once again begging the question: "Is this a good or bad thing"?

It's good because someone of Elton John's stature will surely draw sales interest for those who are into that "celebrity scene". But then again, if I'm going to spend upwards of $1,500 per square foot for a condo/hotel unit, I would want a little peace and quiet as well.

Personally, I prefer to see celebrities at concerts and sporting events. When I'm home, I'd prefer the relaxation. And while I'm sure there are many people and investors in this town who would love to rub shoulders with the Elton Johns of the world at their high rise condo hotel mail boxes, there's something to be said for anonymity - and solid investments to boot.

Tuesday, November 15, 2005

Downtown Las Vegas High Rise Condos and Lofts on the Move

Please take a moment to read Geoff Schmacher's latest article in the Las Vegas Business Press. In it, he addresses a number of reasons why downtown projects are moving in the right direction for high rise condo investments, including the Soho Lofts, Newport Lofts, and the ambitious plans for the World Market Center mentioned in my previous post.

It's a very candid article, mentioning both the good and bad of downtown - while in my opinion validating my theory that there's opportunity in this area of town for the big and small investor alike. Read the story, and let me know if you agree.

Friday, November 11, 2005

Juhl High Rise Condo Lofts a Good Bet for Downtown Las Vegas

If you're looking to get into the Las Vegas high rise condo market and don't have the resources for an " Ivana or Trump" type investment, downtown Las Vegas may have the solution for you. While not as glitzy and swank as some of their strip counterparts, downtown projects can provide you with excellent investment opportunities - if a number of things go right.

Juhl Las VegasThe buzzword downtown is all about "revitalization", and while it's still a ways off, there are inroads being created already. The World Market Center is a great start. Anyone who's been there will tell you it's an awesome building and industry experts in the furniture business are already saying it's been a huge success since they opened a few short months ago.

If you look at the plan to develop the center's surrounding area (as I have), you'll also see they have merely scraped the surface on what's going to happen in that area. That's why I really like the > Juhl high rise condo lofts project. The physical location of their property is walking distance to the World Market Center which I feel will be the first location to profit from the eventual downtown renaissance. The floorplans for Juhl are excellent and the best part is you can get in as an investor with a fully refundable $15,000 reservation until they start going to contract in January. At that point, they want 10% of the total unit amount (your check is applied to that balance) and that's it! If you want the unit to live there yourself, they require just a $5,000 reservation check.

The studios are already gone, but they anticipate some fallout so I urge you to contact me to get on this list. Like I always say, do the numbers - and the numbers here work both on an investment and owner-occupant level.

Sure there are other good projects downtown as well, such as SohoLofts, Newport Lofts, French Quarter Lofts and Club Renaissance, but none will offer you the price-points and minimum investment entry downpayment requirements that you'll find at Juhl. Plus, the developers of Juhl, CityMark Development, have been tremendously successful in their other projects, so they bring a strong track record to the table.

Your job? Get in now in any one of the above mentioned projects and count your profit at the closing table!

Wednesday, November 09, 2005

IMN's Condo Hotel Conference to be held in Las Vegas next Month

The symposium on financing, developing, and operating condo hotels will be held next month on December 6-7 at the Mandalay Bay Resort and Casino right here in Las Vegas.

700+ hotel owners, developers and service providers are already registered for this event with 12 new sessions being added to target the Las Vegas market specifically.

Have a look at the program agenda, then be sure to register.

No, it's not cheap - but the vast information you'll probably receive at this conference will most likely qualify you as a "Las Vegas High Rise Condo Hotel" expert.

Tuesday, November 08, 2005

High Rise Condo Projects in the Las Vegas Valley

Here's a list and status of completed, near completion, under construction, broken ground, and planned Las Vegas high rise condo projects from the Las Vegas Review Journal. Some of the data seems a little off to me, but it provides a good overview on what's going on in this town, high rise wise.

Each unit location is cross referenced in this diagram, although the graphic from the RJ is very poor quality online. Perhaps they can use an experienced graphic designer for future articles.

Monday, November 07, 2005

One Queensridge Place Las Vegas High Rise Condo Project Gets Investment Partner

IDB Development Corp., the largest holding company in Israel, has become an investment partner in the One Queensridge Place high rise with current developers Peccole Nevada Corp. and Executive Home Builders. Perini Construction and JMA Architecture round out the current players in the Las Vegas high rise condo project.

Financial terms of the IDB deal were not disclosed, but the company is also investing in The Village at Queensridge and in a vacant parcel of land near the exclusive Queensridge master-planned community. Anyone who knows anything about the Queensridge area knows how nice the area is, so building the luxury high rise - which is currently 65% sold at pricing starting at $1.2 million - makes complete sense.

Especially with the kind of financial backing IDB brings. First phase construction on the high rise began in April and will consist of 2 18-story towers with 219 high-end luxury custom condos. When the project's complete, One Queensridge Place will have 385 condos in one 14-story tower and three 18-story towers.

You know they're getting built. You know the financing's in place. You know the area's top notch. Now all you need to worry about is the pricetag - but if it's in your range, you definitely need to look into this for the utmost in high-class living in the Las Vegas valley.

Thursday, November 03, 2005

Want the Ultimate in Luxury? Try the Vegas 888 High Rise Condos

When One Queensridge Place started selling their high rise condos, they were the first high rise condo project to truely offer the utmost in luxury and elegance. And their pricing showed it. Now comes Vegas 888, which will make over 540 condos available for purchase when they start taking reservations at the end of the year.

Vegas 888The project will be located adjacent to The Palms Hotel & Casino on West Flamingo Rd. and Hugh Hefner Dr. Between this project and the PalmsPlace high rise condo hotel project, there'll be plenty of entertainment, nightlife, shopping and gaming at your door step. But while Palms Place is somewhat "affordable", you'll have to step up big time for the luxury that Vegas 888 will offer, where prices will range from $750,000 to well over $10 million.

Sizes range from 803 to 3,395 square feet for their Flats, featuring open floor plans and premium interior furnishings. The two-story Lofts have 20’ ceilings, glass staircases, and range from 1,997 to 4,939 square feet. There will also be 10 three-story Villas available for sale next to the pool area, as well as 12 private, one-bedroom Bungalows.

Building amenities include a 12,000 sq. ft. spa, a private lounge for the residents, and an exclusive nightclub, all on the 35th level overlooking the entire Strip. VEGAS 888 will also be the home to a world-class restaurant and pool-level sports bar.

Their “Blue Glove” services anticipate the residents’ needs, and include concierge, housekeeping, valet parking, room service, and butler service. The two-acre pool area has a lagoon pool with beach entry, a swimming pool with a waterfall, Villas, Bungalows and Cabanas, as well as a bar.

It all will translate into the ultimate luxury high rise condo living experience. So if you think this is something you'd like to find out more about, let me know and I'll put you on the interest list for this project, with more details in the upcoming months.