W Las Vegas Condos By Edge Group Sold To Billionaire For $625 Million


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W Las Vegas real estate sold to Africa Israel Investments, an Israeli company by billionaire Lev Leviev. He and his partners have agreed to purchase 60 acres of land for $625 million of the failed W Las Vegas condos and Las Ramblas projects.

The plan is to build several luxury hotels, commercial real estate, and a casino within the next five years reported by Israeli media and Bloomberg News.

The group purchased the property near the Hard Rock Hotel with an expected sale completion by August 2007.

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W Las Vegas Real Estate Selling 50 Acres For $600M To Hotel Developer

W Las VegasW 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.

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W Las Vegas Real Estate Plans For Sale Or Development By Edge Resorts

W Las VegasW Las Vegas condo hotel development by Edge Resorts has been approached by various investors in Las Vegas real estate interested in the two neighboring properties, which cover 49.5 acres of land on the northeast corner of Harmon and Koval, which includes the W Las Vegas and the current site of the Harbor Island Apartments.

Las Ramblas Las Vegas was going to be built on the Las Vegas land that is currently occupied by The Harbor Island land abandoned by The Related Co. earlier this year. The property, which borders the W real estate acreage, was purchased by Edge for $202 million last June.

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W Las Vegas Condos 2.5 Billion Contract Won By Lacina Heitler

W Las Vegas ResidencesW Las Vegas Residences and W Las Vegas Hotel and Casino $2.5 billion real estate contract has been awarded to Lacina Heitler, a boutique architecture firm.

Lacina Heitler Architects recently won the competition to design a new $2.5 billion W Las Vegas Hotel, Casino and Residences. Lacina Heitler had been best known for designing boutique stores in Manhattan, such as Searle and Galo. It is the largest real estate project to date for the small New York firm. It beat out Swiss architects Herzog & de Meuron, Carlos Ott of Uruguay, and the London office of HKS Architects to win the W Las Vegas real estate job.

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