Palms Place and One Queensridge Place in worlds of their own. Literally.
Posted by Luxury Realty Group - December 31st, 2007
Categories: High Rise Condos
Pick your place…Palms Place or One Queensridge Place. Both high rise projects, very different from each other, have done well, even without having locations on the Las Vegas Strip. What “Magic 3″ components did both of these developments have that guaranteed they would be built?
KUDOS to The Maloof brothers and Executive Home Builders. They’ve created successful “Off Strip” projects when almost every other high rise project without a Strip or near Strip location experienced challenge in 2007.
The Strip has dominated the luxury condo market for two years straight. So how did one hip condo hotel tower, and one exquisite luxury residential development stand out from other “Off Strip” properties?
In my Aaron the Genie 2007 article (see link for my 2007 opinions), I coined the term “The Magic 3″…Location, Brand and Construction. I said that in order for a project to survive and do well in 2007 and beyond, it had to have at least two out of those three components.
Palms Place and One Queensridge Place are rare examples of high rise condominiums, not located on or very near the Strip, that have all three.
What’s the hardest component of the “Magic 3″ to pull off when you’re not on or near the golden four miles we call the Resort Corridor? Location.
- You can build a brand anywhere.
- You can get a construction company to build it (although challenging and expensive in Las Vegas).
- The trick is finding a location that buyers and investors are willing to spend top dollar on so the developer can afford the cost of the land and construction.
Rendering of Palms Place
Palms Place “Magic 3″
- Location- Featuring trendy ultra lounges like Ghostbar, nightclubs like Moon and Rain, all the way to delicious restaurants such as N9ne Steakhouse, the Palms Casino and Palms Fantasy Tower have it all. Want to stay in the Hugh Hefner Suite? Perhaps book the Hardwood Suite and have a basketball half-court complete with cheerleaders in your room? These are just some of the reasons why the Palms location is loved by celebrities, athletes and the party crowd.
- Brand-The above description covers this quite well. The Maloofs know how to provide a good time that you’ll never forget.
- Construction- Palms Place broke ground in 2006 (official groundbreaking party was 5/4/06) and is finishing up construction early 2008.
Amenities, prices and other tidbits.
- Floor plans-Studio, one bedroom, two bedroom (combo units) and penthouse floorplans complete with pools hanging off the side of the building were offered. (100% sold out during pre construction)
- Pricing- 600k to over 6 million.
- Number of Units- 599. An extremely low number for a condo hotel building making this tower very exclusive.
- Amenities-50,000 square foot pool and spa, Sunset Tan (seen on E! Entertainment), balconies with Las Vegas Strip views, 24 hour security and room service, business center, conference rooms.
Aaron’s Opinion
- Very few people have called me wanting to list their units. I feel that owners may want to hold on to their property here.
- Awesome for those who want to live the life of a super-star when they come town.
- Great price for what you’re getting!
Want to have VIP access to resale inventory?
Call Aaron Auxier 702-205-1818
Rendering of One Queensridge Place
One Queensridge Place “Magic 3″
- Location- Located just outside of Summerlin, the nation’s largest master planned community. Directly across from Boca Park which features some of the finest boutique shops in Clark County as well as hip restaurants such as Kona Grill. A new retail mall (also developed by EHB) has broken ground diagonally from these two amazing residential towers. The Village will consist of 29 acres of mixed-use development and will contain 700,000 sq ft of restaurants, high-end retail, office property and condominiums.
- Brand-Yohan Lowie (CEO of EHB) has an established reputation for creating breathtaking custom homes in Las Vegas. Elegance and stunning architecture are two thoughts that come to mind when thinking of homes designed by Yohan.
- Construction-One Queensridge Place broke ground in April 2005 and completed late 2007.
Amenities, prices and other tidbits.
- Floor plans-two, three and four bedroom floorplans available. Larger units are available on top four floors including two-story penthouses of over 16,000 square feet.
- Pricing- 1.5 million to over 22 million.
- Number of Units- 219. Roughly 109 units in two 18 story buildings.
- Amenities-25 seat media room, concierge, card room, lap pool, indoor pool, conference room, private garages, casitas and landscaped yards for some homes.
Aaron’s Opinion
- The finest high rise tower in Nevada and one of the finest in the country.
- An ultra-luxury lifestyle with attention to detail rivaled by none.
- Stunning to see in person, convenient location.
Want to have VIP access to remaining inventory?
Palms Place and One Queensridge Place are in their own worlds, worlds that operate just fine even though they are off the Strip.Whether you’re looking to invest into a vacation home in a fully furnished, turn key, condotel product or a full time, primary residence in a residential condominium project, both of these developments will please.
I can be reached for confidential conversation and a more detailed look into either project.
Aaron Auxier, REALTOR® can be reached at 702-205-1818.
Luxury Realty Group is recognized by the press as a leading brokerage on the Strip. They can be seen on networks and in publications such as CNBC, Forbes Magazine, Details, LV Business Press, Wall Street Journal, The Review Journal, Los Angeles Times and USA Today.
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Copyright © 2007 Aaron Auxier. All Rights Reserved.
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All information in this blog is subject to change without notice. Subject matter is not guaranteed and is often considered time-sensitive. See DISCLAIMER.
Copyright © 2008 Luxury Realty Group LLC. All rights reserved.