Platinum Las Vegas Condo Hotel And Spa opened last week as one of the first Las Vegas condo-hotels near the Las Vegas Strip. The $100 million commercial real estate project was 80 percent pre-sold when Platinum real estate received construction financing 20 months ago and sold out.
Platinum Las Vegas condos includes a 16-story residential tower and a five-story, 238-slip parking garage on a two acre site, one block east of the Bally’s, Bellagio and Caesars Palace Las Vegas casinos. The real estate developer is a joint venture of Chicago-based Diversified Real Estate Concepts and Marcus Hotels & Resorts of Milwaukee.
Priced between $400,000 and $1 million, the Las Vegas condos range from 911 sf to 2,166 sf and include 24-hour room service, a full kitchen, a balcony, a fireplace, a 42-inch HD plasma television, an oversized whirlpool bath, town car service and complimentary high-speed Internet access. Platinum Las Vegas amenities include an indoor and outdoor swimming pools; a poolside lounge and a lobby café; a luxury spa; a 4,500-sf rooftop terrace overlooking the Strip and an upscale restaurant and bar.
Corus Bank provided the two-year construction loan for Platinum real estate in February 2005. While Corus finances many condominium projects, this is one of the first condo-hotel developments it has financed. Platinum had a strong level of pre-sales helped Corus Bank become comfortable in advancing 90% of project costs.
Marcus Hotels and Resorts owns or manages 16 hotels, resorts and other properties. The company is currently restoring the historic Skirvin Hilton, a public/private historic hotel renovation project in Oklahoma City. Under the joint-venture agreement for Platinum, Marcus Hotels and Resorts responsible for operating the hotel, DREC is responsible for marketing Platinum luxury hotel in Las Vegas, Marcus Hotels and Resorts and DREC oversaw construction management.
Call 702-505-6988 for VIP Las Vegas condo representation for Platinum Las Vegas by a Las Vegas real estate agent.
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Platinum Las Vegas condo hotel and spa opened near the Las Vegas Strip.