The state of the economy is affecting the Las Vegas strip, in a manner that is much deeper and wider than I have seen in my 36 years in this city. The troubled Las Vegas Sands corporation has announced today that construction of the St. Regis will cease. The project sits in a great location, but launching luxury condosat a price of $1700 to $2000 psf was not such a great idea anyway. Sometimes you wonder if these planners have done any market research whatsoever prior to spending oodles of money on design and engineering plans.
With prices plunging at existing high rises such as SKY LAS VEGAS and Panorama Towers and Metropolis, you can get an ultra luxury condo as low as 50 cents on the dollar in a few instances and a price per square ft of $200-$400.
There are 3 great repos deals at SKY LAS VEGAS priced from $280k to $609k, with the one at $609k being a 1776 sq. ft. unit with a 174 sq. ft. glass wrap around balcony offering strip views from the 9th floor location. This condo just hit the market this weekend and was originally sold at over a million dollars in the preconstruction stage. Located right on the strip, this is one of those foreclosures that is very appealing because it is in the building's prime stack.
For all your Las Vegas Strip Real Estate Needs
Contact The Stark Team
702 376-5220
WOW! Absolutely amazing deals at Sky! Hope you sell them all!
Read about St Regis this AM, not entirely surprised with all the troubles Sands Corp is going through now. Hopefully they can survive with the suspension.
Thanks Renee. Dealing with the banks is very difficult these days ....so many layers of bureaucracy to navigate. Have a great rest of the week!