Mandarin Oriental Hotel Condos for Sale or Rent in Las Vegas

About MGM City Center Mandarin Oriental Hotel condos for sale in Las Vegas

Residences at Mandarin Oriental Hotel condos for sale are from 1084 square foot one bedroom units to 5286 square foot 3 bedroom ultra-luxury penthouse units which were built with Feng Shui and eastern style in mind.

Built in 2007, the 225 luxury units are located on the upper floors of the 47 story glass and steel Mandarin Oriental Hotel at the MGM City Center in the heart of the Las Vegas Strip.

Condo owners enjoy the triple 5 Star amenities from the hotel while having a private residential entrance and lobby. There is also an owner’s lounge and secured private residential elevators.

Regular condominiums range from 1062-2904 square foot with 1-3 bedrooms. Penthouses are 2065-5286 square feet 2 with 3 bedroom units.

Units were sold as grey shell and then were built to suit so upgrades vary in individual condominiums but they all have Thermador and Bosch appliances. Prices vary depending on upgrades and floor location.

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Residences at Mandarin Oriental Hotel Condos for sale at City Center Las Vegas
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Median price appreciation rate appreciation of Mandarin Oriental Hotel condos for sale since recovery of 2011

MGM City Center started to sell units in one of the worst Las Vegas high-rise condo markets which we have documented in several blog posts.

This project failed to sell condominiums at the introductory prices and several price cuts ensued. However, prices stabilized in 2013.

The median price of Mandarin Oriental Hotel condos for sale dropped to $644 per square foot by 2013 and has been climbing ever since. The median prices of condominiums have appreciated by 29.7% since then which is the second highest rate appreciating of all high-rise condominiums in Las Vegas.

Condo sales:

Twenty luxury condominiums were sold in 2016. The cheapest condominium sold was a 1084 square foot one bedroom unit on the 27th floor that sold for $630,000 while the asking list price was $824,000. This condominium was originally purchased for $1,073,000.

The most expensive luxury condominium was a 3920 square foot, 2 bedroom penthouse unit on the 45th floor and it sold for the asking list price of $6,500,000. Property tax for this condominium is more than $22,000 per year.

Residences at Mandarin Oriental Hotel condos for sale

The cheapest Mandarin Oriental condo for sale is a 1106 square foot one bedroom luxury condominium on the 31st floor and the most expensive is a 3922 square foot 3 bedroom penthouse unit with asking price of $5,500,000.

While the most expensive units have sold for the full asking price, other units have sold for tens of thousands of dollars less than asking price. It is essential that you have a Realtor who knows how to price high-rise condos for sale in Las Vegas and we do.

Amenities included:

Amenities included are concierge service, elevated pools, cabana, yoga studio, fitness center, spa, tea lounge, bistro, restaurant and conference, and business center. If the owners want something and it is not illegal, they will get it.

Amenities included:

Amenities included are concierge service, elevated pools, cabana, yoga studio, fitness center, spa, tea lounge, bistro, restaurant and conference, and business center. If the owners want something and it is not illegal, they will get it.

HOA or condo fees:

HOA or condominium fees vary but run approximately 85 cents per square foot on the larger units and $1.22 per square foot on the smaller size units. These rates are subject to change and the minimum rental period is 6 months.

Location:

This high-rise project is located in the heart of MGM City Center within walking distance to Bellagio, Cosmopolitan, and Caesar’s Palace, with access to the best dining and shopping on earth.

Mandarin Oriental Hotel condos for rent:

Rental rates for Mandarin Oriental condos for rent are $3200-$8875 for regular units. One 3 bedroom luxury penthouse unit is listed for rent in Las Vegas MLS for $25,000 per month. 26 condominiums were rented in the past year.