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Las Vegas high rise condo filed for bankruptcy protection this week.  The 21 story downtown luxury condominium project filed for Chapter 11 bankruptcy protection.

Real estate developer Dusty Allen for Streamline Tower racked up approximately $125 million in construction costs of the 275 unit high rise.  Corus Bank of Chicago financed the downtown development.

Continue reading Las Vegas High Rise Condo Filed For Bankruptcy Protection This Week

Streamline Tower Las Vegas real estate was funded a $123 million construction loan by Corus Bank this week, an affiliate of Barclay’s North, which is developing the 21-story Streamline Las Vegas high rise condominium. The total luxury high-rise real estate project cost is estimated at $150 million, with construction making up about $107 million.

Streamline Las Vegas condos, now built up to its second level, will consist of 275 residential units (355,000 square feet), 428 garage parking spaces and about 12,000 square feet of street-level retail space. Streamline Las Vegas real estate is rising one block from Downtown Fremont Street Experience, a seven-block open-air mall featuring casinos, dining, shopping and other entertainment options, nightly light and sound shows. Scheduled completion for Streamline Tower Las Vegas Nevada is late 2007.

The Las Vegas hi rise condos for sale in Streamline will be a mix of one, two and three-bedroom condos with granite countertops, high-end appliances, plentiful windows and private balconies providing views of the Strip or the Valley. Sales prices early on ranged from $356,000 for the smallest units, about 850 sf, to $1.3 million for the 2,000-sf units, but the least price condos for sale in Las Vegas has since risen to about $420,000.

Continue reading Streamline Las Vegas Condos Funded $123 Million Loan By Corus

Streamline Tower Las Vegas condos partner is a former professional baseball player Dusty Allen, who spent time with the Las Vegas Stars, is learning the Las Vegas real estate development business of the 21-story, 275-unit Streamline Tower condos in Las Vegas.

DUSTY ALLEN
Age: 33
Occupation: Managing member, Streamline Tower
Quotable: “I think networking is a good skill of mine that’s proven very valuable, which is something that came naturally from when I was a baseball player. I’ve always been able to connect to people.”

Professional baseball players lead a charmed life, but Dusty Allen knew it wouldn’t last forever.

The power-hitting outfielder who played for the former Triple-A Las Vegas Stars and made it to the big leagues with the San Diego Padres and Detroit Tigers started thinking about life after baseball long before a back injury ended his career in 2001.

Allen went from slamming home runs at Cashman Field to pitching a Las Vegas high-rise luxury condo project Downtown Las Vegas next to Fremont East.

Continue reading Streamline Tower Las Vegas Condos Partner An Ex-Ballplayer

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.

Continue reading Luxury Condos In Las Vegas Dodging Higher Construction Costs