las vegas real estate

Nicolas Cage's Former Las Vegas Home Back Up For Sale

Filed under: Estates

Around this time last year we heard that the Las Vegas home that once belonged to Nicolas Cage has finally been sold. Kenneth Lowman, Broker/Owner of Luxury Homes of Las Vegas announced that he sold Cage's foreclosed, now bank-owned Las Vegas home the first day it was on the market at a new low price of $4.95 million. Cage, who once had a variety of properties scattered all around the world, picked up this home in 2006 for $8.5 million. In July 2008 he listed it for $9.95 million. The 14,000-square-foot home with a 16-car garage was later discounted to $9.49 million. The seven-bedroom home is blandly extravagant with a sweeping staircase, home theater, elevator and panoramic views of Las Vegas. The home has a pool and spa and is located in a gated community for privacy.

The home has resurfaced with a new listing that proudly proclaims its Cage provenance. A comparison of listing pictures from then and now reveals that a little sprucing up and staging has taken place but the overall look of the home is very similar. The price is back up again, it is now listed at $8.9 million.

Gallery: Nicolas Cage's Former Las Vegas Home

Tags: celebrity real estate, las vegas real estate, nevada real estate, nicolas cage

Cosmopolitan Las Vegas Project Faces New Lawsuit

by Deidre Woollard (RSS feed) —

Filed under: Luxury Travel & Hotels, Real Estate Developments

More bad news for the beleaguered Cosmopolitan project in Las Vegas. Earlier this year we learned that some buyers in the project would be given refunds. Now a new lawsuit filed last week takes issue with the decision of the developers to turn the Cosmopolitan into a hotel-only development rather than the condo-hotel project it originally was. The suit was filed on behalf of three individuals who placed deposits towards condominiums at the Cosmopolitan of Las Vegas and alleges that Deutsche Bank, Nevada Property 1 LLC, Nevada Voteco, LLC, 3700 Associates, LLC, and KO Realty Group knowingly committed fraud and conversion, concealing and suppressing facts in order to steal escrow deposits.

"Deutsch Bank and their partners in this venture have been caught red-handed, capitalizing on the recession to steal nearly $100 million in escrow deposits from individuals who bought into the Cosmopolitan of Las Vegas," said Dan Park, lead counsel for the Plaintiffs in a statement. "It's no secret that they have no intention of building the condominiums, as promised, and are playing with people's livelihoods instead of returning money that rightfully belongs to them."

The Cosmopolitan of Las Vegas is set to open in December. The project has not recorded a subdivision map with Clark County showing any condominium units. he $3.9 billion project will include nearly 3,000 rooms, a casino, spa, nightclub and retail space. The Casino City Times reports that the plaintiffs in the newest lawsuit paid 20 percent deposits on units and have not agreed to the times of other settlements. Deutsche Bank bought the project for $1 billion when it was half-finished after its original developer and owner entered foreclosure proceedings.

Tags: cosmopolitan, las vegas, las vegas casino, las vegas real estate, las vegas real estate market

The Opening of the Veer Residences, CityCenter Las Vegas

by Susan Kime (RSS feed) —

Filed under: Real Estate Developments

Last week, on July 14th, the Veer Towers, an integral part of CityCenter, Las Vegas, opened for business. It is one of the most, architecturally avant garde buildings within an exceptional array of edgy, urban structures, Veer Towers is designed by Helmut Jahn and is the only full residential development at City Center. The Towers incline toward each other at 5 degree angles from the center, and are 37 feet high, home to 335 contemporary condo residences, ranging from 500 to 3300 square feet, from studios to 3 bedroom residences and penthouses. Pricing begins from the mid $300,000s to a few million, depending on size, location and interiors. Turnkey interior packages are available, where potential members can move in with only their toothbrush, if desired. At present, in honor of the Veer opening, at some of the Veer towers studios owners can receive a complimentary turnkey interior design/living package, worth up to $20,000 -- an interesting deal, and might include a toothbrush.

I have written about City Center on Luxist before in an article entitled: City Center: The New Urban Vision, but had never been to Veer Towers, as they had not been completed. Now, walking into the residential towers from other areas of CityCenter, I was reminded how much of a city within a city CityCenter really is. Everything is within close proximity. From seeing a studio with exceptional views of the a portion of the Las Vegas skyline, plus multileveled rooftops of Crystals,the 500,000 square floor retail/shopping area, to a residence on a higher floor, ( see image above), the Veer residences offer a sense of sanctuary and peace, all within a city NOT known for such things. Looking out a Veers Towers window at this city of constant. colorful movement can be a peace-inducing experience.

Tags: citycenter, CityCenter las Vegas, Crystals Las Vegas, Las Vegas, las vegas hotels, las vegas real estate, las vegas real estate market, luxury condo hotel residences, Opening of Veer Towers, Veer Towers

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