Monday, May 21, 2012
Mostly Sunny Mostly Sunny, 75° Weather Forecast

business matters blog
business matters blog
The Review-Journal Business staff offers some thoughts, observations and insights into the Southern Nevada business community.
Recent blog entries
View all blog entries
May 2012
Mon Tue Wed Thu Fri Sat Sun
« Apr    
  01 02 03 04 05 06
07 08 09 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31      
Allure penthouse sold for $1.7 million
Posted by Hubble Smith
Thursday, Sep. 03, 2009 at 06:28 PM

Chicago-based Fifield Cos. announced that it has sold a two-story, 4,237-square-foot duplex penthouse at Allure Las Vegas, the luxury high-rise condo on Sahara Avenue just west of the Strip, for $1.7 million.

It's one of the largest condo penthouse sales in Las Vegas this year and shows the strength of Allure's brand, said Alan Schachtman, senior vice president at Fifield.

The 40th-floor penthouse has three bedrooms, three baths, a lavish kitchen and a 1,500-square-foot balcony facing the Strip. Schachtman said he continues to see "tremendous demand" for residences at Allure, which has sold 60 percent of its 427 units. Studio units are priced from $160,000.

Realtor Rob Jenson of The Jenson Group in Las Vegas said he'd like to know who the "idiot" was that paid the $1.7 million. "There's no value there. I hope he likes it," Jenson said.

He said you can buy units at Panorama Towers closer to the Strip for the mid-$200,000 to low-$300,000s.

 

Contact reporter Hubble Smith at hsmith@reviewjournal.com or 702-383-0491.

 

This entry was posted on Thursday, Sep. 03, 2009 at 06:28 PM and is filed under Business Matters. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response.

Comments (3)

Registration Notice: The Review-Journal has implemented a new registration procedure that requires all existing and new accounts to validate and login using Facebook. Visit the Registration FAQ for more information.

Share your thoughts on this story.

Sign in or register to make a comment.

Some comments may not display immediately due to an automatic filter. These comments will be reviewed within 24 hours. Please do not submit a comment more than once.

Note: Comments made by reporters and editors of the Las Vegas Review-Journal are presented with a yellow background.

3 Responses to "Allure penthouse sold for $1.7 million"
Realtor Rob Jenson of The Jenson Group in Las Vegas said he'd like to know who the "idiot" was that paid the $1.7 million. "There's no value there. I hope he likes it," Jenson said.
Rob Jensen is the idiot, let's insult the buyers/investors of our local housing market, yeah that'll do wonders for consumer confidence!

Written by: Backasswards on Thursday, Sep. 03, 2009 at 8:03 PM -- Report abuse
Much more interesting was the sale of the 9125 SF unit in Turnberry Place for 5.78 million.

Sales of these large units have been very sluggish. Nine sold through August of this year. That gives us something over 7 years of supply.

Prices have ranged as high as just over $700 per SF. Does not hold out much hope for the 20 units listed over 800 Per SF.

Mr. Jensen is wildly off base. In general these units are selling in the $400 and upward area. Hard to sell but no place near the little units in Panorama.
Written by: jim.d on Saturday, Sep. 05, 2009 at 11:46 AM -- Report abuse
My numbers through August had 8 condos sold in 2009 over $1MM with 130 on the market. That's about 1/month. I understand not all luxury condos are created equal or have the right view, but it is simple economics big supply, low demand, means future lower prices for this specific product. I think there are some much better highrise projects out there. Personally, I'd be afraid to walk out the front door at Allure.
Written by: Robert.Jenson on Wednesday, Sep. 30, 2009 at 11:49 PM -- Report abuse
Recent Comments
More Blogs