The WSJ reports that bankruptcy filing may be imminent for MGM/Mirage and completion of CityCenter may be in jeopardy. CLICK TO READ THE NEWS
I remember that when the COSMOPOLITAN RESORThad its groundbreaking ceremony, and scheduled a small gathering outdoors on a nice sun-shiny day, all of a sudden the wind kicked up and the rain came down and everyone had to go inside. Word had it that the developer said this rain was taken as a good omen, nature's way of preparing the earth and softening it for the dirt-moving to begin. I for one, found the sudden wind and rain a tad unsettling - being more than a tad a superstitious.
Perhaps we need some other sort of spirit to change the luck that has not been too favorable for all development on the intersection of Harmon & Las Vegas Blvd. We have the foreclosure of Deutsche Bank on high rise developer Bruce Eichner's vision for a super cool new resort - The COSMO - The DENIZEN - or whatever nomenclature the dual towers will eventually have.
Next we have the Harmon Hotel and its construction issues that caused MGM/Mirage to leave Richard Foster's Vegas Vision as a shortened - ever so stumpy-version of its former self. This tower sits on the most prime corner of CityCenter real estate. If I were the architect/designer, Aria would have been positioned on that corner, rather than tucked away in the midst of the other non-gaming towers. But, alas, what does a realtor and 37 year Vegas resident know that the world's most renowned architects and gaming executives do not?
And thirdly, and hopefully lastly, the imminent lack of funds available for completion of the oh so ambitious and dense - City within a City. Stay tuned for Friday's news.
I have an idea - Perhaps Senators Harry Reid and Princess Pelosi should finagle a CityCenter Bail-out Bond or some such VEGAS STIMULUS PACKAGE? Why Not? Big Government is rolling the printing presses and my bet would be on Vegas rather than some toxic asset laden bonds comprised of who knows what!!!
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Hilton Hotels has announced that it will bring a new fresh brand to market, called The Denizen. Looking to create a vibe similar to Starwood's "W", and aiming to appeal to that demographic, what better property to call home than the COSMOPOLITAN RESORT?
Bloomberg News reported the new branding this week and the Las Vegas Sun followed with an article about the Denizen replacing the COSMOPOLITAN as Hilton's new brand:
Click to READ THE Cosmopolitan -Denizen Brand NEWS
I wish that Deutsche Bank would make an announcement or keep the COSMO's website updated with any news, because buyers are entitled to full disclosure about their purchases. These condos have some of the best views, floorplans offering sweeping balconies, of any high rise condos in Vegas, but I think will all the delays and drama surrounding this project, precontruction buyers have the right to have an open line of communication to the powers that be at Deutsche Bank.
Photo Below shows views from the Beach Club Tower that Lauren & I took from around the 30th floor.
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New Interior Designs for the Cosmopolitan Resort's Condos?
High Rises, Luxury Condos, Glitzy Towers, Cranes Galore!
The Harmon intersection of the Las Vegas Strip is undergoing a metamorphosis, with the results to be finalized by the end of next year. The photo above shows the Cosmopolitan Resort's Beach Club Tower in the foreground, along with the Casino Entrance, right on the strip. The rear Tower is the West Tower, and they are aligned to optimize views from every angle. Vdara is the 3 layered tower to the left of the West Tower, tucked away in the rear of the CityCenter development.
Today's news comes after yesterday's report in the Las Vegas Review Journal, that construction on the West Tower has been temporarily halted pending , "CHANGES". The Las vegas Sun reports today, that this is due to interior design changes.
View the Cosmopolitan Resort Promotional Video
I for one, really liked the original interior design. I felt that the vibe was more like an upscale apartment, rather than a hotel-room. I wonder what the decorators will decide upon. And I do hope that the new decor raises the bar a notch above Mrs. Eichner's selections because folks who purchased these condo hotel units, which promise to be amongst the best by far for optimal views, that Las Vegas high rise living on the strip has to offer, will balk at anything that is not of this caliber.
With design such a matter of personal taste, I sure hope the designers do the Cosmopolitan proud. Vegas is a far cry from NYC. Let's hope the new look takes Leslie Eichner's vision to an even more attractive level.
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Las Vegas STRIP REAL Estate News Flash
The Las Vegas Review Journal has reported this morning that work has stopped on the Cosmopolitan West Tower as it goes through a redesign possibly due to Deutsche Bank's signing a deal with HILTON HOTELS.
The Hilton attempted a few years ago to enter the high end tier of the new wave of hotels with a building called The Conrad Majestic, which never got off the ground, despite its Waldorf-Astoria vibe design. This possible entry into that tier by Hilton could be a winner. CHECK OUT THE VIEWS above that Lauren & I took from a north facing units from the COSMPOLITAN'S beach Club Tower.
During the pre-construction sale, Bruce Eichner, the original developer, who lost the project in s proceedings, never sold the top 2 floors of the west tower. This have something to do with the re-design. I am up in high rises on a daily basis and am not easily awed - but the views from COSMO - both north - south - east and west amazed me. If I had 2 floors that were never released for sale, I would re-design them into mega penthouses - sprawling luxury units, that would be the best in the city from a view standpoint. Time will tell what transpires, but this is a bit of good news for a change from the media which constantly touts Vegas Gloom and Doom.
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Click to Read the article from Bloomberg.com
Photo Above was taken from the COSMOPOLITAN RESORT CONSTRUCTION SITE and is of Vdara at CityCenter - Notice the Track - which will move folks from the Bellagio thru CityCenter
The above photo is of the Cosmopolitan Resort West Tower
I was disappointed to hear the news that talks of a merger of the Cosmopolitan resort and MGM/Mirage CityCenter have been suspended. As I was taking spin class today, my fellow spinners were commenting that MGM/Mirage stock was dropping on an up day. Now I know why.
Maybe Deutsche bank should hang onto its cash and have available financing for the pre-construction buyers who, in this economy, will most probably be unable to secure financing, A little birdie told me that the rental program terms that was previously given to Cosmo Buyers was being revisited. Hopefully, these revisions will be in an effort to be more attractive than other venues. The casino is so well located that it can be a cash cow if run properly even in challenging economic times. Planet Hollywood, Bellagio, Aria, all are set back from the Boulevard - COSMO'S is right there. Stay tuned for more Las Vegas strip news!!!
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702 236-8364 702 376-5220
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Las Vegas Luxury High Rise Condos real estate and Lofts Specialists on & near the Vegas strip. Connect with the Stark Team for access to the premier luxury high rise strip area condo units in Vegas.
The Stark Team, Lauren, Travis, and June, is committed to our clientele, passionate about luxury real estate, and always positive in thought and demeanor. We try to listen as well as observe our clients' body language. Sometimes what people do not say is as important as what they do say in understanding their needs and motivations. We enjoy the art of the deal, the negotiations being such a high point of the transaction.
Experience counts, as does a background in Psychology, which was one of June's minors when earning her Bachelor of Science degree. I think that in order to be a successful real estate agent, you have to be an adept listener with a keen ability for attention for detail, a market analyst, with the ability to pull together data and facts in a heartbeat, a bit of a detective, to ferret out true client motivations, and a tenacious negotiator with a positive attitude and a world of patience.
We do not pull any punches and will always tell you the truth. We will not take overpriced listings in this challenging market. If you really need to sell, we will price your listing aggressively, so you wil not be caught chasing the market down. We have a combined eperience of 30+ years in Las Vegas real estate and this is not the first downward cycle we have witnessed, but it is by far deeper and wider than any other.
We do not function in a vacuum, keeping up with the latest economic news, tracking sales and new listings, and price reductions daiily. We pride ourselves on being ahead of the curve. June has years of experience as a financial systems analyst for major corporations, and combined with her degree in mathematics and strong statistical training, no one will provide you with a more thorough analyis of the properties you are considering.
Sellers will benefit from the intricate web marketing that the Stark Team has in place. Our numerous wesites and e-marketing campaigns have a widespread global reach with the highest organci ranking on the major search engines. Receiving tens of thousands of hits per month, our sites and blogs have such presence that your properties will be showcased as best as can be.
We employ full time Search Engine Optimization techniques to keep our web presence ahead of the crowd. We shy away from pay per click campaigns of which customers are wary. Web users trust those sites which are organicaly ranked in top position because such a position comes from years of establishing a presence as well as keeping the content fresh.
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Anthem Country Club Luxury Homes are one of Our Specialties - We live & work in Anthem
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Luxury High Rise Condos are one of The Stark team's areas of focus.
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About Us:
I relocated to Las Vegas from NYC in 1972 to accept a position as a systems analyst/programmer for Summa Corporation (now Howard Hughes Corporation) and was responsible for all the financial reporting & forecasting for Howard Hughes' holdings in Nevada & California.
I have watched Las Vegas real estate redefine & reinvent itself over the past few decades. Honored to be designated as as Preferred Broker for MGM City Center, the amazing 9.6 billion dollar development being built in between the Bellagio Hotel & the Monte Carlo, on the Las Vegas strip, I work with my daughter & partners Lauren and Travis, as we continue to place clients into what promises to be the nation's most exciting high rise condos projects.
I represent some of the most unique & spectacular real estatein Las Vegas & Henderson, Nevada. A seasoned industry veteran and top broker for more than 13 years, both my clientele and peers know me as an avid real estate connoisseur with more inside knowledge of the industry, the market & the history of Las Vegas' development than anyone else in the business. Little wonder we enjoy the respect of Las Vegas' major developers, to say nothing of our fiercely loyal clientele.
With strong developer relationships and expert insight into the Las Vegas High Rise condo market, I serves the most discriminating buyers & sellers with the utmost care, courtesy & confidentiality. We strive to assess each client's specific needs and zeroes in on the right area of Vegas or Henderson, the right development to fulfill those needs & investment objectives. Known for our integrity and candor, we will not encourage her clients to proceed with a transaction until she is convinced that the fit is right.
Please visit our websites at:
http://www.LasVegasCondoBargains.com
http://www.LasVegasCondoExperts.com
http://www.lasvegashirisecondos.com/
http://www.lasvegasluxuryhomes.com/
http://www.vegaspreconstructioncondos.com/
http://www.lasvegashirisespecialists.com/
http://www.lakelasvegas-realestate.com/
***All info contained herein is merely a market opinion. Potential buyers are encouraged to do their own Due Diligence and consult an attorney and/or CPA to aid in their purchasing decision. Square footage and facts deemed reliable but buyers are encouraged to verify all info and facts. Square footage and dimensions are those disseminated by the developers and are to be verified by buyers and their appraisers.***
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The rendering above is the $9.6 billion MGM/Mirage CityCenter Project presently under construction, and the structure to the right of it is the Cosmopolitan Resort, also under construction.
For more info on these luxury high rises, contact THE STARK TEAM, 702 376-5220.
Queensridge Towers Luxury Condominiums The Ultimate Address in Luxury Living in the Summerlin Area
The world's most exciting city has a private side. Quiet, elegant, almost pristine in its appeal, a revolutionary residential experience has emerged within sight of the mesmerizing non-stop action that is Las Vegas. Tucked away near Summerlin, One Queensridge Place offers discerning buyers a superior way of life conveniently located between the glorious glow of city lights and the Red Rock peaks of the Spring Mountains. Starting From approximately $1.6 Million.
The Residences at One Queensridge Place make an artistic statement as much as an architectural one. The high level of design and craftsmanship in both public areas and private homes is a dramatic tribute to a dedicated team of architects and artisans. Their goal was to create a new dimension of custom home design in a high rise setting.
The result is more than 40 different luxurious floor plans, fittingly characterized as "custom homes in the sky". Owners are offered a choice of imported stone, granite counter tops, custom stained cabinets with decorative moldings, medallion inlays and a discerning selection of natural stone bathroom designs. The wide variety of designer appointments, colors and finishes allow each residence to become an intimate statement of the owner's personality and style.
Entertainment Area
Residents can socialize and relax in the comfort of the spacious Great Room with areas to enjoy television, cocktails, billiards and table games. Other amenities include a 25-seat media room, intimate card room, retreat room and outdoor pool with barbecue area.
Wine Cellar
Vintage wines are an essential complement to a prestigious lifestyle. An elegant wine cellar offers temperature-controlled storage for private collections and a cozy dining area with outdoor terrace for intimate parties
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