# Vegas Fractionals



## Texan in NYC (Nov 19, 2007)

Does anybody know if there are any high end Vegas fractionals being offered for sale?  Ideally, I'm thinking 4 Seasons, Mandarin, the new MGM Citycenter development, Wynn, Bellagio, etc.


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## Steamboat Bill (Nov 19, 2007)

Check out this impressive Las Vegas MGM CityCenter web site.

http://www.citycenter.com/swf/main.aspx

I'll "bet" there are a ton of properties available in Las Vegas.


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## Dave M (Nov 19, 2007)

Not much available for the well-known upscale brands.

Waldorf-Astoria is building a 50-unit high-end fractional project in the Lake Las Vegas resort complex in next-door Henderson.

I'm not sure how "high-end" it is, but Desert Quarters will have two high-rise fractional properties on or adjacent to the Strip.

For another alternative ($180,000 for six weeks each year), take a look at the SoHo listing at the bottom of this page.


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## Texan in NYC (Nov 19, 2007)

Dave M said:


> Not much available for the well-known upscale brands.
> 
> Waldorf-Astoria is building a 50-unit high-end fractional project in the Lake Las Vegas resort complex in next-door Henderson.
> 
> ...



Thanks, this Desert Quarters project may turn out to be nice, but the website is very strange, and provides no telephone contact information:  http://desertquarters.com/contact.php  Also, there's nothing at all about this project I could find on Google.

I'm thinking about Vegas principally because I thought it might become a distressed market, and it might be possible to pick up a fractional condo interest at a discount.

I was aware of the Lake Las Vegas stuff, but that whole development area is in a lot of trouble.  Properties out there could end up going to zero, and the whole place could become a ghost town, or a very downscaled Del Webb type place.

Surprisingly, there seem to be few offerings in prime Vegas strip, at the high end.


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## Fern Modena (Nov 19, 2007)

Excuse me?



Texan in NYC said:


> Properties out there could end up going to zero, and the whole place could become a ghost town, or _a very downscaled Del Webb type place_.


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## Texan in NYC (Nov 19, 2007)

Fern Modena said:


> Excuse me?



I'm sort of familiar with this project from the business/investing side, and not the user side.  I can't comment on the non-public material I'm aware of, however this link provides public information about the developer, and the development, for you to consider:

http://www.inbusinesslasvegas.com/2007/11/16/feature1.html

Obviously I was exaggerating when I said that property values would go to zero, or that the development would become a literal "ghost town", however an uncompleted development, cancelled projects, bankrupt developer, etc. is a major problem for future property values.


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## ricoba (Nov 19, 2007)

Texan in NYC,

Just a word to the wise.....

Fern, lives in a very nice and very upscale Del Webb community in Vegas!


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## Dave M (Nov 19, 2007)

ricoba said:


> Fern, lives in a very nice and very upscale Del Webb community in Vegas!


It's actually in Henderson, the "whole development area" that Texan in NYC blasted. 

I'm another with very close ties to Henderson and those comments ruffled my feathers, too!


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## Texan in NYC (Nov 19, 2007)

ricoba said:


> Texan in NYC,
> 
> Just a word to the wise.....
> 
> Fern, lives in a very nice and very upscale Del Webb community in Vegas!



Sorry, no offense intended (particularly for somebody new to the Board with less than half a dozen posts!).  My reference to Del Webb was meant more to refer to a possible repositioning of Lake LV as a "retirement" community (e.g., multidwelling units, etc), instead of a "second home" community (e.g., $1M+ homes occupied by rich folks from LA, etc), which is how the original development started.


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## Fern Modena (Nov 19, 2007)

I'm sure you meant no offense, but you gotta rethink the whole Del Webb thing.  Maybe your description applies to some of the original Del Webb properties, but certainly not those of today.

My Del Webb Community has over 7,000 dwelling units, and approximately 200 of them are duplexes.  That's less than 3%.  The house across from me sold about six months ago for $995K, and another one nearby sold last week for $1.1M. The first one has a full "Vegas Valley/Strip" view, and the second one is on The Revere Golf Course as well as having a Vegas Valley/Strip View.

I don't know how many millionaires we have living here, cause its not the type of place where you look at people's bank statements before you decide if they are good friend material.  Off the top of my head I can think of at least five that I'm acquainted with, including Tony Curtis and Linda November and Artie Schroeck.  Linda is the "Meow Mix" kitty, and has recorded over 22,000 jingles in her lifetime.  Artie Schroeck is a musician and arranger for many top stars, and was the arranger for the current musical Jersey Boys.

We're not exactly what you might think of as a retirement community.  You need to update your thinking.

Fern


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## Dave M (Nov 19, 2007)

Fern Modena said:


> ...including Tony Curtis and Linda November and Artie Schroeck.  Linda is the "Meow Mix" kitty, and has recorded over 22,000 jingles in her lifetime.  Artie Schroeck is a musician and arranger for many top stars, and was the arranger for the current musical Jersey Boys.


Yeah, but who is that Tony Curtis guy, Fern?


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## Fern Modena (Nov 19, 2007)

Fussy, fussy.  So do you want to go back and edit it to say "Bernie Schwartz" like (I imagine) his deed is?  He's always introducing himself that way these days ("You can call me Bernie").

Fern



Dave M said:


> Yeah, but who is that Tony Curtis guy, Fern?


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