Las Vegas High-Rise Condominiums

Las Vegas High-Rise Condominiums

New and Resale

High-Rise condos for sale -Las Vegas - Property search
Note that the searches available from the above link will reflect primarily resale homes, however some homes under construction as well as homes built and not yet sold are also represented. Note that I have been able to remove homes in "contingent" status from the search results. The results you receive by clicking on the link above should produce only currently available properties. This information is updated every 24 hours.

This is a showcase of a few of the currently listed high-rise properties in the Las Vegas area.

$204,000 200 HOOVER AV # 2002 Las Vegas, NV 89101 Listing #: 1239166 Beds: 0 Baths: 0 ... Listed By: Tony Preus Hi Rise Living LLC	$204,900 4381 W FLAMINGO RD 50309 Las Vegas, NV 89103 Listing #: 1137330 Beds: 1 Baths: 1 ... Listed By: Dale Thornburgh Synergy Sotheby's Internationa	$205,900 2000 FASHION SHOW DR 1616 Las Vegas, NV 89109 Listing #: 1244728 Beds: 0 Baths: 1 ... Listed By: Alfonso Caballero Realty ONE Group, Inc
$209,900 4381 W FLAMINGO RD 51316 Las Vegas, NV 89103 Listing #: 1249440 Beds: 0 Baths: 1 ... Listed By: Thomas Love The Tom Love Group LLC	$215,000 4381 W FLAMINGO RD 2420 Las Vegas, NV 89103 Listing #: 1248348 Beds: 0 Baths: 1 ... Listed By: Tim McKenna Keller Williams Market Place	$218,000 222 KAREN AV 404 Las Vegas, NV 89109 Listing #: 1249140 Beds: 1 Baths: 2 ... Listed By: Karissa Putvin Regency Real Estate Group LLC

Overview

There was a tremendous surge in actual and proposed high-rise projects in the Las Vegas area over the last few years. Excluding time shares and casino projects, there were at least 95 developments proposed. At one point, over 40,000 new units were projected.

This list of cancelled or suspended projects is now very long. All of the below projects represent developments closed-out or those with still active sales efforts. Some are entirely closed out. Others have closed units and are ongoing either still building or closing out their remaining inventory. Others still have active sales efforts, however having as of yet closed no sales and still in the process of building.

Having said all this, there are opportunities out there for the prudent buyer, but you really need to be careful. Feel free to contact me with any questions you may have. My contact information is at the bottom of the page.

This is a very difficult market at this point in time. Lenders are increasingly reluctant to finance these projects as well as finance individual purchases, especially hotel/condos. As of March 1, 2012 there have been 368 closed high-rise sales per the local MLS over the last six month period. Of those 368 closings, 196 were distressed sales, either short sales or foreclosures. There are 393 properties currently listed and that is somewhat less than the inventories of the last few years As of January 1, 2009, the number of closings for the previous 90 days was under 50. Short sales seem to have faired better in the high-rise market than in the conventional home/condo/townhome market with 34% of the closings as opposed to around 25% for homes/condos/townhomes.

There is now just over a six month inventory at the present rate of sale. The average cost per sq. ft. dropped dramatically from 2006 through 2010 but seems to have stabilized somewhat since then. The median price per sq. ft for all the high-rise closings over the last six months was $194. 

My independent research as well as information from sources that I consider very reliable leads me to believe that they all could possibly be in some degree of jeopardy. Those developments still selling new are indicated below with an asterisk*. Streamline Towers has ceased sales and the entity that controls them will now rent out the balance of the units. That could well be the fate of other developments, especially those with a large number of units built but few sold. Feel free to contact me with any questions you may have. It's a jungle out there! My contact information is at the bottom of the page.

As I reviewed the sales over the last year I have to say that I was very impressed with how low some of these units were sold for. The buys are there right now and that is not an opinion I have ever had with respect to hi-rise properties in this area, and I mean ever.

Existing high-rise condo developments in Las Vegas

For more information on each of these below projects including links to information on currently listed resales in most of these communities, click on the highlighted links below.

This information last updated 3/1/2012

Allure Condos* - This newer development is located just west of the Strip on Sahara. 427 units have been built on 41 floors. Homes sizes range from 671 to 4,400 sq. ft. Resale list prices average $231 per sq. ft.

Boca Raton - This project is on the south Strip. There will be 756 units in all in four, seven story towers. Home sizes ranging from 593 to 2,413 sq. ft. Resale list prices average $104 per sq. ft. Recorded as Palm Beach Resort.

The Cosmopolitan* - This 3,000 room casino/hotel is being constructed next to the new City Center project on the Strip. Its fate is uncertain at this point. The condos that were to be built on the top floors have been canceled because of construction difficulties. Click on link for more information.

Juhl Lofts* - This 341 unit development is located in the central/downtown area. Home sizes range from 584 to 1,728 sq. ft. A few units have now recorded here. No sales here since Sept. 2009.

Marie Antoinette - Located at the southeast corner of Koval and Flamingo, just east of the strip. The development comprises 140 units on 10 floors and was constructed in the mid 1970's. Units range from 621 to 1556 sq. ft. This development is two blocks from the strip. Al Pacino owned a property here at one time. Resale list prices average $86 per sq. ft.

Metropolis - This newer high-rise is located on E. Desert Inn. All units are built in a loft style and face to the south, across from the Wynn/Le Rev golf course, with most having strip views. 71 units were built in all ranging from 877 to 5,467 sq. ft. This building has very much of an art deco look. At the time of this writing, only one unit is listed for sale and is priced at $156 per sq. ft.

MGM City Center* - 8 billion dollar mixed use development including 2 condominium and one condo-hotel option. Located just to the south of Bellagio, fronting the Strip and backing to the Interstate 15. Largest development of its kind possibly anywhere.

MGM Grand Residences Turnberry - This is a condo/hotel It is currently the only existing condominium-hotel connected to a major resort on the Strip. There are two floor plans available in three buildings. This project has sold out, but many resale units are available. Resale list prices average $407 per sq. ft.

Newport Lofts* - Downtown high-rise newly completed. 168 units on 24 floors. Homes sizes range from 911 to 3,052 sq. ft. Units start on the 8th floor with parking below. Resale list prices average $238 per sq. ft.

One Las Vegas* - This is a very ambitious project located approximately 2 1/2 miles south of the airport just off of Las Vegas Blvd. Several thousand units are projected ranging in size from 831 to 2,857 sq. ft. Resale list prices average $104 per sq. ft.

One Queensridge Place* - This development is located well off the Strip at Rampart and Alta. Units between 2,000 sq. ft. and 16,000 sq. ft overlook the Badlands golf course. Resale list prices average $623 per sq. ft.

Palms Place* - 599 unit condo/hotel located in the same complex as the Palms Hotel on W. Flamingo. Units range from 615 to 6,230 sq. ft. Resale list prices average $501 per sq. ft.

Panorama Towers* - Three tower development just west of the I15 and the Strip. 854 units completed. Homes range in size from 732 to 6,900 sq. ft. Resale list prices average $316 per sq. ft.

Park Towers - This project is located in the Hughes Center north and west of Flamingo and Paradise. 84 units were built in all. These were completed in 2000 and 2001. Sizes range from 2,055 to 9,024 sq. ft. More units were anticipated, but some of the prospective buyer's wanted larger homes with some taking over an entire floor. This was the first of the new breed of high-rise developments in the Las Vegas area. Resale list prices average $578 per sq. ft.

Platinum Resort Condo - Condo/Hotel with 255 units located on Flamingo, two blocks east of the strip. Home sizes range from 739 to 2,194 sq. ft. Resale list prices average $152 per sq. ft.

Regency Towers - This project was built inside the grounds of the Las Vegas Country Club, north and west from Desert Inn and Paradise.. 218 units were built in all. The standard floor plans range from 584 to 2208 sq. ft. with 8 customized units ranging from 2408 to 5938 sq. ft. This complex was completed in 1974. Resale list prices average $129 per sq. ft.

Soho Lofts - This is a newer completed high-rise development of 122 units. They range in size from 1,277 sq. ft. to 5,206 sq. ft. All units are, with variations, done in the loft style with high ceilings and few separations between rooms. The location of this high-rise is on Las Vegas Blvd., roughly half way between the Stratosphere and Fremont St. This was the first local high-rise to be constructed north of Sahara. At the time of this writing there are no currently listed properties

Sky Las Vegas* - This 409 unit development is located across the street from the Sahara hotel on Las Vegas Blvd. Home sizes range from 778 to 5000+ sq. ft. One of the newer high-rise developments on the Strip. Resale list prices average $311 per sq. ft.

Streamline Tower* - 21 story building with 277 units ranging in size from 854 to 2,044 sq. ft. It is located one block north of the Fremont Street Experience, downtown. As of August 12, 2009, 26 units have closed escrow. Looks like another entity has taken this project over.

Trump Tower* - New condo/hotel with 64 floors and 1,282 units. They range in size from 550 to 3,000 sq. ft. This development is located just north of the Fashion Show Mall and one block to the west of the Strip. Resale list prices average $516 per sq. ft.

Turnberry Place - All four towers of Turnberry Place have been completed and there is substantial resale activity. Units range from 1,179 to over 9,000 sq. ft. Resale list prices average $384 per sq. ft.

Turnberry Towers*- Two towers built with homes ranging from 814 to 1,937 sq. ft. Both new and resales are available here. Resale list prices average $327 per sq. ft.

Wimbledon Tennis Club - This project consists of 114 units on 10 floors. It was built in the mid 1970's and is located on the east side, near Flamingo and Swenson, about a mile and one-half from the strip. It is in an area of older apartment and condominium developments. It is guard gated as are all the above developments. Home sizes range from 1,080 to 1,483 sq. ft. Resale list prices average $51 per sq. ft.