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Old 04-12-2008, 06:42 AM
 
1,755 posts, read 4,892,439 times
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The "Donald" was in town for as official ribbon-cutting---- plans for the second tower have been put on hold until the first tower sells out: ReviewJournal.com - Business - Another level for Trump as tower opens RIGHT! Check the Clark Co Assessors site------LESS than 5% have been sold. Search By Location Address
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Old 04-12-2008, 07:16 AM
 
196 posts, read 854,173 times
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I would be shocked if they managed to sell out without drastically reducing the asking prices. There's just not THAT many high rollers willing to drop over half a mil on a weekend "crash pad" in Vegas, especially when you factor in all the other competing ventures out there. I never understood the appeal of high end condos in Vegas, if I had money I would want to stay at Wynn, Bellagio, etc. that's half the fun of Vegas. City Center might be the only place I could see being successful given its location, design, international marketing, etc. I think in time, as the investors and flippers lose patience and sell, alot of these towers (trump, turnberry, signature, etc) will go "downmarket" and maybe get some interest from locals and higher paid strip employees looking for an easy commute and central location.
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Old 04-12-2008, 09:36 AM
 
253 posts, read 1,218,386 times
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Quote:
Originally Posted by talktobrent View Post
I think in time, as the investors and flippers lose patience and sell, alot of these towers (trump, turnberry, signature, etc) will go "downmarket" and maybe get some interest from locals and higher paid strip employees looking for an easy commute and central location.
Remember that they aren't all alike - Turnberry, Panorama, and a few others offer much larger units with house-like floorplans. Trump, Signature, and the other "condo-hotel" towers may struggle a bit, because the number of people who want to buy a hotel room is, as you point out, limited.

Either way, they aren't likely to fall far enough to appeal to the average Strip employee. There's still enough foreign money to keep demand for Strip properties up - whereas that foreign money has no real interest in the typical 4BR, 2BA house in distant Summerlin.
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Old 04-12-2008, 09:38 AM
 
Location: Here and there, you decide.
11,941 posts, read 23,438,521 times
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so lets tell Trump "You're Fired"
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Old 04-12-2008, 10:10 AM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 33,310,539 times
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Quote:
Originally Posted by sheriff View Post
The "Donald" was in town for as official ribbon-cutting---- plans for the second tower have been put on hold until the first tower sells out: ReviewJournal.com - Business - Another level for Trump as tower opens RIGHT! Check the Clark Co Assessors site------LESS than 5% have been sold. Search By Location Address

Don't think so. Likely over half sold. They just have not closed them yet. No way to secure financing without large sold count.
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Old 04-12-2008, 10:27 AM
 
Location: Here and there, you decide.
11,941 posts, read 23,438,521 times
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just curious, what are the numbers of city center looking like
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Old 04-12-2008, 10:33 AM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 33,310,539 times
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Quote:
Originally Posted by airics View Post
just curious, what are the numbers of city center looking like
A couple of the buildings are sold out effectively...a penthouse or two left. The condo hotels are less sold but I think approaching half.
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Old 04-12-2008, 12:41 PM
 
Location: Las Vegas, Nevada
12,686 posts, read 31,783,027 times
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Don't forget that these things are purchased by large corporations and used as customer perks so they are written off as entertainment.
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Old 04-14-2008, 03:49 AM
 
1,755 posts, read 4,892,439 times
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Originally Posted by olecapt View Post
Don't think so. Likely over half sold. They just have not closed them yet. No way to secure financing without large sold count.
Likely YOU have no clue. The Clark Co Assessors shows less than 5% have sold---closed escrow--changed hands--paid money.
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