2009-06-21
Over the past couple of years a number of condo/condo-hotels have opened on or near the Strip: Allure (428 units), Boca Raton (756), Juhl (341), Loft 5 (168), Panorama Towers (600), Turnberry Place (636), Platinum (255), MGM Signature (1,728), Palms Place (599), Trump International (1,282). These (there may be others) total 7,293 condos. Yet to come in the next or two are some additional thousands at CityCenter, Cosmopolitan, Planet Hollywood, and others. Considering the current real estate market, how have the sales gone for the projects already open? Are many in foreclosure? Were many deposits (made several years ago when prices were still escalating) forefeited?