A good friend and business associate of mine visited me in Las Vegas this week and wanted to find out more information on the Las Vegas high rise condo marketplace, so into my car we went. However, I made the mistake of first driving past the Project CityCenter construction site. That was all it took for him - he wanted a CityCenter high rise. Period. Nothing else would do.
Never mind the fact that the Harmon Residences were way out of his league pricewise, or that the Mandarin Oriental is sold out. He wanted CityCenter. I know this guy and let me tell you, based on his finances and the way he lives his life, even purchasing a unit in the Veer Towers or Vdara would hurt - especially when his wife found out! But here's the point: every other development we saw afterwards couldn't match the extravagance CityCenter offered in his eyes. We all know there are a number of other high rise condo options in town - but you have to look based on what's right for YOU and not fall in love with one particular project just because it's all the rage. Take those blinders off!
And that's the moral of today's story. The fact of the matter is, what works for someone may not work for others. Some buyers just aren't Trump people. The Cosmopolitan project may appeal to a certain buyer in a way Turnberry may not. SpaLofts may look great to one individual, while another investor may see Juhl in Downtown Las Vegas as an investment more in congruence to his lifestyle. Downtown vs. The Strip... Off the Strip vs On the Strip... Condo vs. Condo Hotel... it's all different for everyone and none is more right or more wrong as long as you stick to what you can afford and be consistent with the way you live your life.
So knowing my friend as well as I do, I just knew CityCenter was wrong for him. It would have been a nice commission, but after his blinders came off, he knew I had a point. Oh, he's still interested in a high rise condo in this amazing city of ours, but next time, he's bringing his wife and we'll all go out with a more realistic mindset.
What's your high rise mindset? Is CityCenter for you?
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment