Las Vegas North Strip Luxury Condo And Development Map Released By Local Real Estate Broker King Of Condos

LAS VEGAS, Sept. 24, 2014 /PRNewswire/ -- King of Condos has released a luxury condo and development map outlining the change that is taking place on the North Strip in Las Vegas.  The goal of the map is to help consumers understand what the North Strip will look like over the next few years.

"We took a complicated mix of residential high rises and development projects and made it easy to understand. We wanted to help consumers make an educated decision when picking a condo to live in or purchase as an investment." says Jason Trindade, CEO of King of Condos.

The change on Las Vegas's North Strip has been happening at a rapid pace. The first major project to be completed was the $415 Million renovation of the Sahara into the SLS Resort and Casino. This project was headed by Sam Nazarian, the CEO of SBE. This SLS brings a sophisticated elegance to the North Strip along with a collection or restaurants, retail, and entertainment. The SLS fills the void between Encore/Wynn Casinos and the Stratosphere. The addition of the SLS has created 3,400 jobs and increased demand for upscale housing on the North Strip.

There are 3 projects underway including the Lucky Dragon Casino next to Allure, the Walgreens on the northeast corner of Sahara and Las Vegas Blvd, and the MGM City of Rock. The Walgreens will be the next project to complete in early 2015. Walgreens will occupy about 17,300 of the 40,300 square feet of retail/casino space. We expect the names of additional tenants to be released as we near the completion of this project. The next project to complete will be the MGM open air event venue that will host the Rock in Rio this coming May. The construction plans include the closure of the KOA campground at Circus Circus to make room for this 33 acre venue. The next project to complete will be the Lucky Dragon, an Asian themed casino that will stand 10 stories tall with approximately 200 guest rooms. The developer has broken ground on this $115M project and reported to Jason Trindade, the Broker for King of Condos, that he expects completion in early 2016. This is being developed by Andy Fonfa who was also a partner in the Allure Las Vegas tower.

We have 2 exciting projects that are approved, but have not started construction. The All Net Arena and Resorts World Las Vegas. The All Net Arena and Resort will likely begin construction in early 2015 with completion in 2016. The arena, which has seating for 22,000, will have a salon, spa, nightclub (inside the arena), grocery store (Trader Joe's and Sprouts were mentioned as examples at the meeting), offices, an arcade, a motion picture studio, a 16-screen movie theater (two stories and located atop a parking garage), an outdoor ice skating rink and a farmers market. The Resorts World Las Vegas is an 87 acre site that involves the completion of an existing project that was started by Boyd Gaming. The new project will be built in 2 phases with an estimated cost of $7 Billion. King of Condos reports that Penta, a construction company, has been seen on site and recently placed a trailer on the property. A source close to the project said the Genting Group was in the process of obtaining the new permits to build.  The completion of this multi-billion dollar project will dramatically change the North Strip forever.

As a result of recent development activity on the North Strip, we have noticed increased demand for luxury condos for sale and luxury condos for rent.  The buildings being affected include Allure Las Vegas, Sky Las Vegas, Turnberry Towers, Turnberry Place, and Trump International. The Allure Las Vegas condos typically average 2 sales per month and they have closed 6 sales in 20 days. Sky Las Vegas has seen an increase in demand and a decrease in supply with only 17 active listings. Sky Las Vegas has 2 closed sales in September and King of Condos represented the seller in both transactions.

"Its incredible that you can still purchase these condos at 50-60% below their original sales prices. Investors should be picking up 2 or 3 of these condos and holding on to them for the next 5 years.", says Mike Bell, President of National Sales for King of Condos Inc.

The Las Vegas's North Strip will only get better as it continues to be built out into a desirable destination to live, work, and play.  While prices have continued to increase, the condos on the North Strip still continue to sell 50-60% below their original values in 2007. Investors looking to take advantage of these discounted residences on the North Strip  should visit the King of Condos web site or contact their offices at 702-508-9038.

King of Condos Las Vegas – http://lasvegas.kingofcondos.net 
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About King of Condos Inc.

King of Condos Inc. is a real estate technology firm focused on the management of real estate brokerages and web sites. The companies main products include the KingofCondos.net™ web sites and the iKing™ real estate brokerage. The KingofCondos.net™ web site is the most visited site in Las Vegas for luxury highrise condos with more than 1,000 visitors per day.

King of Condos offers sales, marketing, and property management services for condo owners. They work with condo developers in various parts of the country including Sky Las Vegas Condominiums and the Howard Hughes Corporation in Hawaii. King of Condos, Inc. management team is led by CEO and broker, Jason Trindade, an entrepreneur from Silicon Valley with a background in computer science and marketing. Jason Trindade is a realtor, broker, and property manager. He focuses on developing software technology that simplifies the research process for consumers purchasing luxury condos in major markets. The sales team is led by President of Sales, Michael Bell, who focuses on business development and expansion into new markets. Michael is a leader in the real estate industry and has sold over $1B in real estate as the sales manager for the $11B City Center project, the Martin, and leading home builder, DR Horton. King of Condos Inc. continues to grow, recently adding to its team, Jennifer Graff, a top producing luxury real estate agent formally selling at City Center and One Queensridge Place.

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SOURCE King of Condos Inc.