The Residences at MGM Grand – The Grandest
Condotels are the biggest attraction in the Las Vegas property market just now. In many ways it is the perfect choice for out of town investors who can reap an income from their property and enjoy it themselves whenever they like. The condominium investment units that can be rented out in the owner's absence and the place are well maintained too. No wonder it has become the biggest new development boom in the Las Vegas Valley.
The pioneers and, in my opinion, the most attractive proposition of the lot is The Residences at MGM Grand, on the northeast section of MGM's 116-acre Strip property.
The reassuring partnership of Turnberry, the developer of the ultra luxurious Turnberry Place, and MGM Grand, one of Las Vegas’ finest hoteliers makes for a winning combination. Their 6,000-square-foot sales and information office at MGM Grand's Studio Walk displays a designer-furnished two-bedroom model residence. Instinctively you know they know their business.
Prices have already escalated as is to be expected, from the time the project was announced a couple of years ago. Then they ranged from $350,000 for studio units to $1.5 million for high-end suites. Today the studios cost from $515,000 to over $700,000!
This first ever condominium hotel on the Las Vegas strip offers some very unique features that set it apart from many other condotels projects that have followed.
The first of the three condominium-hotel towers is a 38 story high structure with 576 units, which were priced from the low $500s to $1.5 million. Units in the second tower are almost fully booked and sales are now going on for Tower 3 at the Residences. Ultimately, The Residences at MGM Grand will have over 1600 condo hotel units. Towers A and B are under construction and completion of Tower 3 is estimated for mid-2007. Tower C potentially has the best views of all three towers.
The owners of units at The Residences have the flexibility to use it as a condo hotel or only as a private residence. Owners may rent out their units to MGM hotel guests or they may reserve exclusive use for themselves and their family. The complex has an ambience of a residential tower rather than a hotel and I think this is quite unique when you look at the projects being marketed currently. Looks like the third tower may be the last opportunity to be part of the Residences MGM Grand.
One big attraction to Las Vegas visitors is that when you live at The Residences you can and enjoy all the amenities of the MGM Grand such as the casino and five outdoor pools which I believe add up to the 6 acres of swimming pools! Then there is the Grand Spa and fitness center. The towers will be connected to the hotel by an air conditioned, covered moving walkway. The MGM Grand restaurants are legendary and of course, there is the shopping and entertainment. It has its own a monorail station and the bonus is access to the Grand Garden Arena, which is the venue for the best concerts and sporting events in Las Vegas.
The pioneers and, in my opinion, the most attractive proposition of the lot is The Residences at MGM Grand, on the northeast section of MGM's 116-acre Strip property.
The reassuring partnership of Turnberry, the developer of the ultra luxurious Turnberry Place, and MGM Grand, one of Las Vegas’ finest hoteliers makes for a winning combination. Their 6,000-square-foot sales and information office at MGM Grand's Studio Walk displays a designer-furnished two-bedroom model residence. Instinctively you know they know their business.
Prices have already escalated as is to be expected, from the time the project was announced a couple of years ago. Then they ranged from $350,000 for studio units to $1.5 million for high-end suites. Today the studios cost from $515,000 to over $700,000!
This first ever condominium hotel on the Las Vegas strip offers some very unique features that set it apart from many other condotels projects that have followed.
The first of the three condominium-hotel towers is a 38 story high structure with 576 units, which were priced from the low $500s to $1.5 million. Units in the second tower are almost fully booked and sales are now going on for Tower 3 at the Residences. Ultimately, The Residences at MGM Grand will have over 1600 condo hotel units. Towers A and B are under construction and completion of Tower 3 is estimated for mid-2007. Tower C potentially has the best views of all three towers.
The owners of units at The Residences have the flexibility to use it as a condo hotel or only as a private residence. Owners may rent out their units to MGM hotel guests or they may reserve exclusive use for themselves and their family. The complex has an ambience of a residential tower rather than a hotel and I think this is quite unique when you look at the projects being marketed currently. Looks like the third tower may be the last opportunity to be part of the Residences MGM Grand.
One big attraction to Las Vegas visitors is that when you live at The Residences you can and enjoy all the amenities of the MGM Grand such as the casino and five outdoor pools which I believe add up to the 6 acres of swimming pools! Then there is the Grand Spa and fitness center. The towers will be connected to the hotel by an air conditioned, covered moving walkway. The MGM Grand restaurants are legendary and of course, there is the shopping and entertainment. It has its own a monorail station and the bonus is access to the Grand Garden Arena, which is the venue for the best concerts and sporting events in Las Vegas.
posted by realestatevegas | 6:46 AM
<< Home