Downtown Las Vegas' Newport Lofts Condo Project Reporting Strong Sales

Who'd be crazy enough to buy a high rise condo in Downtown Las Vegas? Well, maybe "crazy" isn't the right word... how about "insightful" instead?

According to an article in today's Review Journal, Home Builders Research reported 32 escrow closings at the Newport Lofts condos in July at an average price of $536,315. That's not refundable reservations... That's not hard contract signings... That's CLOSED transactions, as in people are moving in and actually living there. Newport Lofts reports that approximately 1/5th of their buyers are investors and only 44 units in the building are left. With prices starting in the mid-$500s a square foot, they've already closed 81 escrows in the last six weeks while fallouts (or cancellations) have been at the ridiculously low rate of 3 percent.

Apparently, many people are seeing the value of downtown Las Vegas and the Newport Lofts project in particular. Are they crazy or insightful? You owe it to yourself to see for yourself and investigate the possibility of buying into this project or in one of the other neighboring quality Las Vegas condos downtown has to offer.