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Tuesday, November 24, 2009

City Center High Rise Condo/Resort Sneak Peak Video

Check Out This video that was posted on the LasVegasNow.com Website. MGM’s multibillion dollar development City Center invited local news reporter inside for a special sneak peak at the development which is scheduled to open in phases starting December 1 2009.

Thursday, November 19, 2009

Fontainebleau Las Vegas Bankruptcy Updates Plus Prime Strip Land Across From City Center





Over the course of the last few months I have reported on the failed Las Vegas High Rise Condo/resort Fontainebleau. On Monday in a bankruptcy court filing in Miami Pen National has set the stage with a stalking horse bid of $50 million for the troubled strip asset. The bid of $50 million by Pen National is not likely going to close but it does open up the doors for other investors to come in and take a swing at trying to purchasing the troubled development. Now that things are moving along with the bankruptcy sale of Fontainebleau we can expect to see lots of interested buyers for this property and hopefully construction will resume and the property will be finished before the end of 2010.

The Fontainebleau property is not the only piece of Real Estate on the strip currently for sale. Across the street from MGM’s multi billion dollar development City Center 17.72 acres of already occupied land is coming up for sale through a pre packaged bankruptcy deal. The 17.72 acre parcel has been home to several retail and dining operations such as the Harley Davidson café, Smith & Wollensky, a Travelodge hotel and the Hawaiian Marketplace. This is a prime piece of Las Vegas Strip Real Estate and it will be interesting to see how this land will be developed. If the new owner chooses to build High Rise Condos they will have a front row view at the brand new amazing multi billion dollar City Center development which is expected to pull Las Vegas out of it’s current declining state. Commercial bankruptcy and foreclosures are now becoming the new trend in the commercial markets across the nation and here in Las Vegas we are already seeing signs of this type of activity. 2010 will be the year for the highest commercial Real Estate decline in recent history. Read The Full Fontainebleau Article Here Read The Full Las Vegas Strip Land Deal Article Here

Monday, November 16, 2009

Las Vegas Recovers With MGM's City Center Resort High Rise Condo Development

Monday, November 9, 2009

Video-30%Price Drops On Las Vegas High Rise Condos At City Center Not Enough

I recently wrote about MGM City Center Las Vegas High Rise Condo proces being dropped 30% in an effort to help buyers close on their unites. An interesting video came out not to long after that I would like to share with you. The Las Vegas High Rise Condo market has been hit hard buy the recession so MGM decided to go ahead and lower it's High Rise Condo prices by 30% and some are questioning whether this is enough to help buyers in this type of market? Check out the video below to watch the full story and feel free to leave your comments.





Friday, November 6, 2009

Cosmopolitan Las Vegas High Rise Condo Foreclosure Lawsuit

Check out this video I just made which talks about the Cosmopolitan High Rise Condo Hotel here in Las Vegas that was sold last summer at a Foreclosure auction to Deutsche bank. The Las Vegas High Rise Condo market has had a huge increase in interest over the last couple of months mainly die to the opening of MGM's multi billion dollar development City Center. If you want to learn more about the Las Vegas High Rise Condo market be sure to subscribe to this blog or my youtube channel. You can also follow me on twitter or facebook to really stay informed on whats happening on this end.

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