MGM City Center Releases Residential Condos - Reservation Forms Available Online

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For those who have been waiting patiently since November 17th, 2006 when only the condo hotel units were released, the MGM City Center has now opened up the residential condo developments, Veer and Mandarin Oriental, for first phase reservations (through VIP brokers only) prior to the public grand opening. Reservation deposits are all totally refundable, and allow buyers the chance to secure a premium residential condo directly on the famed Las Vegas Boulevard.

Construction is already well underway on the MGM City Center's new 7 billion dollar project in the middle of the Las Vegas Strip. The 66-acre metropolis will be built between the Bellagio and Monte Carlo hotel casinos and will be a mixed-use cosmopolitan center of hotels, luxury Las Vegas condos, and shopping--all within an urban setting.

The Mandarin Oriental Residences will consist of only 227 luxurious condominium units perched atop the exclusive 400 room Mandarin Oriental Hotel. Similar to a condo hotel, homeowners will have access to the incredible array of signature amenities offered only at the Mandarin Oriental hotel but with the privacy of a residence. Residences will range in size from 1,000 square feet to 3,900 square feet, and pricing for the smallest units will start at $1,500 per square foot.

The two 37 story MGM City Center Veer residential towers, Veer East and Veer West, will rise from the heart of the City Center retail and entertainment district and have only 700 residential units total. The towers will each house approximately 350 units ranging from 500 square feet to 2,600 square feet. Like Vdara, the City Center's condo hotel project, the asking price for the smallest units will be around $1,000 per square foot. Amenities will include a rooftop entertainment area on each tower with resort style infinity pool, fitness center, spa, cabanas and a patio for entertaining. Each tower also will feature a private valet, a business center, clubroom for managing the day's business and social affairs, and steam room.

Vdara will be the only condo hotel at CityCenter. Vdara will have 1,543 residential units ranging from 500 square feet to 1,850 square feet. Unit pricing starts at around $500,000, or about $1,000 per square foot for the smallest units on the lowest floors. Amenities and services will include a luxurious spa and salon, pool with cabanas, fitness center, destination restaurant, 24-hour concierge service, conference and meeting facilities, in-room dining, housekeeping and valet parking.

The Harmon Residences, the City Centers fourth residential development, will not be available for reservations until later this year.

For buyers interested in purchasing a unit in the MGM City Center, separate reservation forms and deposit checks for each unit must be completed. Deposit checks are to be made out as follows:

  •      Mandarin Oriental - $20,000 check payable to Commonwealth Land Title Insurance Company
  •      Veer East - $10,000 check payable to Lawyers Title Company
  •      Veer West - $10,000 check payable to Lawyers Title Company
  •      Vdara - $10,000 check payable to Nevada Title Company

Early bird reservation holders for Vdara will only need to put 20% down. This is only available to registered clients of VIP agents prior to grand opening in late January 2007. After that purchase deposits will be 30% total. At the time of contract there will be the balance of a 10% deposit required, less the initial reservation deposit. There will be an additional deposit of 10% approximately 6 months after contract signing. The 80% balance will not be due until close of escrow, either in cash or financed.

As the MGM City Center preferred agents, we at the Tonnesen Team of Prudential Americana Group Realtors look forward to assisting you to acquire one of these exciting new residences in the heart of the Las Vegas Strip. Floor plans and exact pricing should be available soon along with more details, but in the meantime please call us at 702-985-7654 if you have any questions, or visit our web site at Las Vegas Real Estate.

"This is not intended to be an offering or solicitation for sale in any jurisdiction where this project is not registered in accordance with applicable law or where such offering or solicitation would otherwise be prohibited by law." By registering for this project with our office or on our web site you agree to be represented by the Tonnesen Team of Prudential Americana Group Realtors as cooperating broker working with the MGM Mirage as developer.

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