Vegas Magazine - Niche Media - There is a place beyond the crowds, beyond the ropes, where dreams are realized and success is celebrated. You are invited.
Issue link: http://www.ifoldsflip.com/i/753186
Modern art meets moderne style in Penthouse 4103 at Mandarin Oriental. PHOTOGRAPHY BY JEFF BEUTH (MANDARIN PENTHOUSE 4103); RON MILLER (MARTIN UNIT 2807); COURTESY OF PORDES RESIDENTIAL (VEER) GOING UP! WHERE DO THE CITY'S TOP REAL ESTATE BROKERS SEE THE MARKET GOING NEXT YEAR? IN A WORD, HIGHER. BY ANDY WANG CITYCENTER WILL BE THE CENTER OF THE ACTION With low condo inventory and no new residential buildings on the Strip in the pipeline, CityCenter's Mandarin Oriental and Veer Towers should see rising prices and a flurry of activity. "Many of the transactions we have completed as a firm in 2016 have been driven by the lack of inventory in the market, especially on the penthouse level and in the most exclusive high-rise towers, such as Mandarin, where we have closed transactions from $1.6 million to $3.2 million," says Matthew Brimhall of MDB Realty (mdbrealty.com). "Buyers continue to purchase residences on the Strip from locations worldwide and do not hesitate when it comes to price and/or terms." "There's no new inventory at this point," agrees Mike Bell, who partners with Jennifer Graff at Graff Luxury Team (graffluxuryteam.com). "That's what I tell clients when some- body needs a high-rise condo: 'They need to buy yours.'" Bell remembers selling pre- construction condos at CityCenter, which makes him see tremendous upside in 2017. "We were selling condos for $1,000 a square foot, and there was nothing there," he says. "BUYERS CONTINUE TO PURCHASE RESIDENCES ON THE STRIP AND DO NOT HESITATE WHEN IT COMES TO PRICE." — matthew brimhall 110 VEGASMAGAZINE.COM SPACE SURREAL ESTATE