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Platinum Las Vegas Condo Hotel And Spa opened last week as one of the first Las Vegas condo-hotels near the Las Vegas Strip. The $100 million commercial real estate project was 80 percent pre-sold when Platinum real estate received construction financing 20 months ago and sold out.

Platinum Las Vegas condos includes a 16-story residential tower and a five-story, 238-slip parking garage on a two acre site, one block east of the Bally’s, Bellagio and Caesars Palace Las Vegas casinos. The real estate developer is a joint venture of Chicago-based Diversified Real Estate Concepts and Marcus Hotels & Resorts of Milwaukee.

Priced between $400,000 and $1 million, the Las Vegas condos range from 911 sf to 2,166 sf and include 24-hour room service, a full kitchen, a balcony, a fireplace, a 42-inch HD plasma television, an oversized whirlpool bath, town car service and complimentary high-speed Internet access. Platinum Las Vegas amenities include an indoor and outdoor swimming pools; a poolside lounge and a lobby café; a luxury spa; a 4,500-sf rooftop terrace overlooking the Strip and an upscale restaurant and bar.

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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.

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Platinum Condo Las Vegas hotel will open this summer off of the Las Vegas Strip. The Platinum Hotel and Spa, Las Vegas real estate is targeting small-to medium-sized incentive and business groups in its 255 suites with views of the mountains and the neon Las Vegas Strip.

Two blocks away from the Bellagio Vegas, Caesars Palace hotel2c Las Vegas and the Venetian hotel Las Vegas, as well as the Las Vegas Monorail service, the Platinum Las Vegas condo hotel with feature all rooms available. There is no gaming, poker, slots or Las Vegas casino. Instead the Platinum real estate is planning an intimate property with top service and plenty of meeting spaces.

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