W Las Vegas Real Estate Selling 50 Acres For $600M To Hotel Developer
Tuesday, March 27th, 2007W Las Vegas real estate by Edge Group is close to selling 50 acres of land west of the Hard Rock las Vegas to a real estate developer from New York. The sale price should be $16 million an acre or more than $600 million. This is record for near Strip land and double from last year’s value.
The Edge development is on a 1.2 mile portion located between the Strip and Paradise Road. Project CityCenter Las Vegas is at one end of the the Strip and Harmon while the Hard Rock Las Vegas, Morgans Hotel Group plans to expand, is at the other end of Harmon.
The total land for sale in Las Vegas, Nevada include 25 acres of land to develop W Las Vegas Residences and 25 acres of Ramblas property. The Las Vegas commercial real estate developments are scheduled to have a 6,600 unit condo hotel, casino, shopping, and restaurants. This would be similar to the current MGM Mirage Project CityCenter Las Vegas and Echelon Place.