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Sky Las Vegas condos penthouse sells for $2.7 million on the 42nd floor. This luxury condominium is 2,985 square feet with a sales price of $904.53 per square foot. The buyer didn’t receive appliances, flooring, interior design elements and wall coverings.

Days after a luxury home sale in The Ridges in Summerlin real estate, several weeks after a 10 million home sale in Southern Highlands a luxury Sky condominium sale sets another high.

Luxury homes in Las Vegas, Nevada real estate prices continue to rise despite the residential real estate slowdown.

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Sky Las Vegas condo tower opened several months ago and recently sold one of its unfinished penthouse unit for $2.7 million. This Sky condominium is 3,500 square feet with a 500 square foot balcony on the 42nd floor of the 44 story tower.

Total remaining Sky condominiums for sale equal about 40 units. Units range from 870 square feet to 5,500 with prices from $700,000 to $5 million. The real estate also includes 702 parking spaces with 43,500 square feet of retail space.

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Maxim Las Vegas on Wednesday was approved use permits for the proposed men’s magazine resort Las Vegas Nevada real estate project despite concerns of neighboring Sky Las Vegas high rise condo. The high rise condominium is planned for Las Vegas Boulevard and Circus Circus Drive.

Maxim condos is being developed by Concord Wilshire Development of Los Angeles, CA. They were looking for approval on a high density real estate project of the lifestyle magazine, and were granted use permits.

The future design review by the city council will include more details about the proposed project, such as tower entrances, height, and parking availability.

The mixed-used real estate project planned for the 7.7-acre site near Circus Circus hotel and theme park would include a three-tower Las Vegas resort with 1,860 luxury condos and 300 rooms. It will also have a casino, restaurants and shops.

Vice president of design and engineer at Concord Wilshire was satisfied with the use permits from the county. Maxim expects to break ground in 2008, with completion of the of the resort in 2010.

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Condos in Las Vegas real estate and Las Vegas land rising construction prices have created major obstacles for entry into the Las Vegas hi rise condominium market, giving early projects such as Sky Las Vegas condos, SoHo Lofts, and Panorama Towers Las Vegas a clear advantage over newcomers, executives of two projects under construction said.

Anything built on or around the Las Vegas Strip is going to sell for $1,300 to $1,500 a square foot, some Las Vegas luxury real estate, said David Pourbaba, president of Sky Condos Las Vegas, which recently topped out construction of its 45-story condominium tower next to Circus Circus.

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