(PRWEB) July 9, 2005
Phil Gutman, Director of Sales for the Cosmopolitan Resort & Casino, a hotel-condominium project to be built on the Las Vegas strip next to the Bellagio, announced this evening that he will be releasing the remaining units in Cosmo's main tower for sale on Wednesday, July 13th. The Cosmopolitan Resort & Casino has been the shining star in the skyward development of the Las Vegas Strip.
With projects such as Aqua Blue, and the Majestic/Conrad closing their sales offices & announcing cancellation or re-tooling of their projects because of rising construction costs and sluggish sales, the Cosmpolitan has maintained an on-going consumer demand that has been ever-increasing. Instrumental in this project's success, and the driving force behind the sales effort is Phil Gutman, bringing to Las Vegas his extensive high rise experience from the Miami market.
Phil has worked closely with developer Bruce Eichner over the last few years and has helped direct the launches & successful sell-outs of some of the finest High Rise projects the Miami skyline has to offer. This "been there -done it" experience was the driving factor in Bruce Eichner's wise decision to select & relocate Phil to Las Vegas to direct the sales effort of this expansive Las Vegas High Rise project.
Eichner's team and choice of Gutman as his sales director has translated into the Cosmopolitan's incredible 90% plus conversion rate from reservation to contract in a record-breaking 3 month time frame. Phil uses his unique blend of polished managerial skills, combined with a loyal clientel/investor base who follow him from project to project with his sophisticated computer technological skills which resulted in an amazingly quick, efficient, sell-out.
Phil Gutman & David Ezra, broker/owner of Ezra International Realty, who as a team, chose to implement HIMS, a High Rise Inventory Management system with which to release Cosmo units. Their proprietary alegorithm scheme, by which they divided the building into blocks of units, released the building in a balanced manner. This ensures that there is always an attractive prime selection of units for buyers to choose from during all phases of the sales process.
In some high rise projects that are unsuccessful, the building's prime units are cherry picked by the early buyers at lower prices, thus leaving the less desireable units unsold. This creates a stagnant group of units that the developer has to cut prices in order to sell. This end of the building close-out strategy not only reduces the profit margin for the developer, but destroys the building's pricing integrity.
The Cosmopolitan is cognizant of the investor/buyer mindset and has employed this unique HIMS pricing model and unit release strategy to maintain a strong continual buyer demand while maximizing developer and investor/buyer profits.
Phil announced this evening that the remaining units he will be releasing Wednesday, are studios of about 600 sq. ft., some north facing the Bellagio fountains, and some south facing the future MGM Project City Center and the Mandalay Bay/Monte Carlo Hotels. These units will be priced at $650k to $700k+.
Buyers will be required to go straight to contract with a 10% deposit and an additional 10% will be due in April 2006. The project is scheduled to be completed in early 2008.
On the morning of July 12th, Trump International Hotel & Tower will have its groundbreaking ceremony on site. Mr Trump has taken reservations for all 1280+ units.
On July 12th, the same day as the Trump Tower groundbreaking, Ivana Trump,in an effort to out-trump TRUMP, will begin the pre-launch of the Ivana Supertower. Ivana Supertower is zoned as a residential condominium but will be marketed as a managed resort rental condominium for short term rentals - daily, weekly, & monthly. This tower will be built to hotel specifications and be run as a 5 star resort. This is a unique concept and a first for Las Vegas.
Ivana will be an 80 level supertower located on the Las Vegas Strip on the northeast corner of Sahara & Las Vegas Boulevard offering fully furnished & appointed units and boasting incredible views. Reservations for Ivana are scheduled to begin shortly.
Phil Gutman said tonight that he is gearing up for the launch of Tower EIGHT, the thin front tower at the Cosmopolitan. This tower has "unprecedented pent-up consumer interest and demand". He will be releasing Tower EIGHT for sale at the end of the summer. The Cosmopolitan Tower EIGHT will consist of corner 1 bedroom suites of 1117 sq. ft. with 400 sq. ft. of wrap around balconies and HUDSON type studios. "Tower Eight is expected to have an incredibly rapid sell-out in record-breaking time," said Gutman. There will also be a select few larger residence-type units atop Tower EIGHT that are presently being designed. These units promise to offer amazing breathtaking Las Vegas Strip views and will range in size from about 2000 sq. ft. and up.
For more information contact:
June & Lauren Stark
Las Vegas High Rise Specialists