Las Vegas Homes, Condos, Land and Commercial Real Estate Blog

Sales report for City Center Las Vegas luxury high rise condominiums for sale

CityCenter, Las Vegas is closing deals on about 200 out of 2400 luxury residential condominiums at Residence at Mandarin Oriental Las Vegas and Veer Towers and condo hotels that are for sale in Vdara at City Center.

Here are the sales numbers at City Center Las Vegas.

Number of luxury high rise condos for sale at CityCenter Las Vegas, and Luxury condos sold so far

As you can see CityCenter has a long way to go to sell out their luxury condos.

Las Vegas luxury high rise condos for sale are purchased for several reasons:

1: Value; Brick and mortars. You get to own a luxury high rise condo in the best location in Las Vegas, in the middle of the best and most expensive shopping and dining places on earth. Our wealthy brothers and sisters don’t have to exert themselves too much to spend their money on $2000 Louis Vuitton shoes and purses.

2: Cash flow: City Center, Las Vegas condos will disappoint when coming to cash flow. The reason that Residences MGM Grand Signature condos has had such a big foreclosure problem is that buyers who paid $900 or more per square foot found out the cash flow originated by MGM Grand condos did not come close to paying the mortgage on them. Foreclosed or bank owned MGM Grand condos are selling for 25 cents on the dollar now. I believe that CityCenter condo buyers who buy for cash flow will be disappointed.

3: Gaining tax advantage by becoming a Las Vegas, Nevada resident: I am not a CPA or Tax attorney and can’t discuss tax advantages of buying a residence in Nevada, but our wealthy brothers and sisters have the potential to save more than the price of a condo and all expenses involved through savings on their taxes.

Those who want buy at CityCenter should take a look at competition like MGM Grand Signature condos and Trump Las Vegas condos  which are selling for less than ½ the price per square foot as the cheapest price per square foot of City Center condos.