About The Martin condos for sale or rent in Las Vegas
The Martin condos for sale are from 821 square feet one bedroom units to 1962 square foot 2 bedroom units. Penthouse units are 3227-4826 square foot and have 5-7 bedrooms.
This tower was initially named Panorama Tower 3. However, condo sales were not sufficient and the project was sold to investors who finished the building and made some changes.
This project was built in 2009 and is a 45 story building built out with modern interior finishes and Juliet balconies or terraces.
One of the biggest advantages of this tower over Panorama Towers is that its condominiums have Strip Views on both sides of the building while Panorama Towers units have either Strip or mountain views.
Median price appreciation for The Martin condos for sale since recovery of 2011
In 2011 the median price of The Martin new condominiums was $277 per square foot while at the same time neighboring Panorama Towers were selling foreclosures and short sales at deep discounts for the median price of $177 per square foot.
This is the reason that the median price of condos has only appreciated by 23% from 2011 while Panorama Towers median price gain is at 56.4%. This doesn’t mean that this tower has underperformed. The median price of units here was $341 in 2016.
For more information see Las Vegas high-rise condo market and to see how each individual tower has performed see Las Vegas high-rise condos appreciation rate since recovery of 2011.
This project sold 28 condominiums in 2016. The cheapest unit sold was a 1035 square foot condominium on the 9th floor that sold for $265,000 and the most expensive condo sold was a 12,940 square foot Penthouse unit that sold for $4.25 million in gray shell condition.
The Martin condos for sale:
Currently, the cheapest The Martin condo for sale is a 1,111 square foot 2 bedroom unit priced just above $300,000 and the most expensive are 4 ultra-luxury Penthouse units with 3-5 bedrooms with asking list price of $2.79-$4.2 million dollars.
While cheaper units sell for $10K-20K less than asking price this is not true for more expensive units that sell for tens of thousands of dollars below asking price. These units were listed for a long time and sold for below market value prices because the listing agent didn’t know how to put the right asking list price on them.
This tower offers concierge service, security, valet, a business center, fitness center, indoor spa and steam room, outdoor heated pool and spa with cabanas, club room, massage room, fire pit, library, coffee bar, garden lounge and garage parking. Limousine service is provided for residents on weekend only.
Condo fees or HOA fees:
Minimum rental period is 6 months. HOA fees are 56 cents per square foot per month and are subject to change.
The Martin is located at 4471 Dean Martin Dr on the west side of the I-15 freeway across from City Center. You are minutes away from all the Strip has to offer.
The Martin Las Vegas condos for rent:
Prices for The Martin condos for rent start at about $1900 for smaller units on the lower floors. Prices go up to $4800 for a 1966 square foot 2 bedroom unit on the upper floors. No Penthouse unit was rented in 2016.