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New York’s Plaza Hotel Gets a New Sister in Las Vegas

Posted by Bruce Hiatt - May 16th, 2007
Categories: High Rise Condos

First we thought there was going to be a ferris wheel and jazz hotel to take the place of the New Frontier hotel and casino in Las Vegas. Now it’s a totally different ball game.

The New Frontier was just sold this week at a record setting $1.2 Billion for an existing hotel and casino on the Las Vegas Strip. On a per acre basis, that’s $33 million an acre which is an all time high for Strip land in Las Vegas.

With such a high price tag comes a high end hotel and casino to take its place. Enter the owners of the New York Plaza as the new owners of the New Frontier. Their plans? To build the Plaza Las Vegas as similar to the New York Plaza and equal level of ultra luxury. What does this mean for the north end of the Strip?

Plenty. The much aligned north Strip is now the ultra luxury part of the Las Vegas Strip. With Trump Las Vegas luxury hotel condos, Sky Las Vegas luxury condos, Fontainebleau hotel condos and the upcoming Palazzo luxury condos, it is going to be the most incredible transformation the Las Vegas Strip has ever seen.

Want to be a part of this transformation before prices go even higher? You can still reserve a new luxury hotel condo at Trump Las Vegas and buy a luxury residential condo at Sky Las Vegas now. Given $33 million an acre and going higher, that translates into interesting prices per square foot in order for the developer to make a profit selling condominiums or hotel condos. Give us a call or contact us via our website to let us educate you as our client about the changing north Strip and Las Vegas luxury real estate opportunities now.

Bruce Hiatt, Broker, CRS can be reached at 702-456-7080 x201.
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