Cosmopolitan Luxury Condos Expect Units To Close First Half Of 2010
Cosmopolitan luxury condos expect units to close for buyers the first half of 2010. Real estate brokers and hard contract holders of Cosmo units will receive letters outlining the current state of the condominium project on the Strip.
More than 1,800 condo buyers will be happy to see the news of the real estate development. There have been changes of ownership and with the current credit market and downturn in the economy buyers have been in limbo, some since 2005.
Big changes have occured this week for the luxury condos for sale in Las Vegas, Nevada real estate. Deutsche Bank paid $1 billion, at a foreclosure sale for ownership and appointed Related Cos. from New York to complete the development of the $3.9 billion, 2,998 unit hotel condo project. It is expected top off at the end of this year.
Buyers for Cosmopolitan Las Vegas units have had their non refundable 20 percent deposits waiting for the fate of the development. Over 80 percent has been sold of the condos with a total sales of $1.35 billion.
An announcement of the hotel operator for the casino and hotel operation will be announced shortly. Nevada Property I will coordinate design and construction progress of the project.
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Cosmopolitan luxury condos expect units to close first half of 2010.