The Cosmopolitan
Las Vegas High-Rise - Real Estate

The Cosmopolitan Resort & Casino is a resort casino and condo that broke ground in October, 2005 next door the the new City Center project on the west side of the Las Vegas Strip.  It was scheduled to feature 2,200 condominium-hotel units (no longer to be built); 800 hotel rooms; a 75,000 sq. ft. casino; 300,000 sq ft  of retail and restaurant space; a 40,000 sq. ft. spa and fitness facility; an 1,800 seat theater; and 150,000 sq. ft. of meeting/convention space.  It is located next to the new City Center project on the Strip. Unit sizes range from 603 to 1,246 sq. ft. 

This project, as I understand it, is in foreclosure.  Deutsche Bank, the lender, has been paying the monthly construction bills since March, 2008 when original New York-based developer Bruce Eichner failed to find new financing.  The bank has reportedly been talking with hotel operators, developers and private equity firms about taking over the project but no deals have been completed, to my knowledge.

To make matters worse, The Hearst Corp., the multimedia empire behind Cosmopolitan magazine, filed a trademark infringement lawsuit in federal court claiming the developments use of the Cosmopolitan name is trying to enrich itself by using the Cosmopolitan magazine's good name in an attempt to confuse the public into thinking the development is associated with the publishing company.

The above information has been compiled from numerous sources, none of which I have personally confirmed.

Other condo hotel options include Platinum, MGM Grand Residences Turnberry, Palms Place, Vdara at City Center and  the Trump Tower.

This is a caveat I would apply to all those local high-rise communities still selling new. There may be some jeopardy here.  See my concerns on my  high-rise directory page

Millie Fine
CENTURY 21 Aadvantage Gold
Toll Free 1-888-449-3463
Home office 1-702-363-5599
E-Mail Millie!
millie@milliefine.com 

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