Pinnacle Las Vegas high rise condos $650 million real estate project is canceled. Sales have been suspended February 22, 2008 and the real estate agents for the development have been told their job is no longer available.
Nevada Title is the escrow company that held the buyers’ deposits of the condominiums for sale in Las Vegas, Nevada real estate. In accordance to their contract, Nevada Title is releasing the buyers’ deposits and interest as quickly as possible.
The proposed luxury condos that have been canceled on Tropicana Ave., was the former location of the Falconi Honda car dealership.
The real estate brokerage in Vegas said there was a large interest in the project and units were sold quickly after being offered for sale. Many are sad this similar looking high rise to Atlantis in the Bahamas will not come out of the ground.
YWS was the architect of Pinnacle Las Vegas. The design called for two 36 story high rise towers with a sky bridge connecting the two. The plan showed 1,100 units in total.
The land at the former Honda car dealership was valued at $8 million an acre. Angelo Falconi hoped the owned free and clear 12 acre parcel would help advance the project to completion. Pinnacle condos was announced two and half years ago with many other grand failed projects including Icon, Krystal Sands, Ivana Trump, Spanish View Towers and Aqua Blue.
Pinnacle Las Vegas high rise condos $650 million project canceled.