***The W Las Vegas***
A Las Vegas Condo-Hotel
The W Las Vegas Project Has Been Cancelled.
If you bought a unit at W Las Vegas,
I have incentives at another project to get a
better deal and first phase pricing on a high rise project
that has already been started on the Strip!
Call (702) 612-3379 for more information.
ATTENTION: Pre-construction VIP Pricing starts at $500K. I have exclusive rights to sell at VIP Pricing. Contact me today to find out more about this unique opportunity. When the sales office opens in June, condo prices will start at $650,000. Don't miss out on this great opportunity!
The W Concept
- The W Brand in a truly Las Vegas package
- Tantalizing & tempting amenities and services
- Inclusive exclusivity
- Romms & suites rising above the casino.
- W Bungalows: In a range from 1-4 bedrooms and 1-4 baths. Targeted to higher-end gaming customers and experienced high-end travelers. Features include extensive living areas, media rooms, private plunge pools, private Jacuzzis®, private salons, massage areas, heated salons and personal gyms. Plans also include presidential and multi-room suites.
- Condominium Residences: Studios & 1 bedrooms which can be combined to form 2 bedroom residences. Fully furnished. Will resemble hotel guestrooms but will also offer a wide array of residential amenities and thoughtful creature comforts. Ample closet space, oversized showers, electronically-controled sheers and drapes are planned as standard contributions. A separate entrance is being considered for residents.
A Las Vegas Condo-Hotel
Condo-hotels are full-service hotel properties with a portion of their inventory dedicated to whole ownership condominiums. The condo-hotel developer makes these units available for purchase by public buyers who may use their unit for one of the following:
- Permanent residence
- Vacation home
- Placing the unit into an organized rental program
Using the rental program helps defray your expenses. This is a concept that is very common in Las Vegas and in Florida. Like a traditional condo, you will be able to use your unit whenever you like. However, unlike owning a traditional condo, owning a condo-hotel allows you to participate in the hotel rental program and to share in the revenue that the unit generates. Simply choose the days in which you wish your unit to be availalbe to rent and your unit will then be made available for rent on a daily basis through the hotel reservations department. You will avoid the responsibilities and hassles that usually come with being a landlord because the hotel takes care of maintaining the condo, the common areas and all rental issues. You unit is purchased fully furnished.
Condo-hotels also offer unit owners the same amenities and services as hotel guests. You will have direct access and generally preferred reservations at all of the hotel restaurants, clubs and other entertainment venues.
The W Hotels® Experience
- Luxurious condo hotel residences
- Whatever/Whenever® Concierge Service
- Unique Casino
- Signature dining, shopping, nightlife
- Headline entertainment
- Ultra Luxe Pool and Private Cabanas
- Bliss® Spa
- State-of-the-art Fitness Center
- Architecture and Design by Klai Juba and Lacina Heitler
- Interiors by Charles Allem Designs
Location: The Park Avenue of Las Vegas
W Las Vegas will be located on the northeast corner of Harmon Avenue and Koval Lane. This is 0.4 miles east of The Las Vegas Strip and 1.5 miles northwest of McCarran International Airport.
The site is part of the emerging Harmon Corridor, where high-end hotels, residential buildings and high-rise residential condominiums and condo-hotels are currently in development.
The Harmon Corridor is said to become something along the lines of New York's Madison Avenue or Park Avenue.
Construction Update
The ground has been broken on the beautiful 7,000 sq ft W Las Vegas Welcome Center! The process of installing underground utilities and infrastructure (phone, cable & data servces and electrical power) is underway.
Features
Fully-furnished condos with contemporary interios by Charles Allem Design.
- Stylish kitchens with Subzero® fridge & induction stove
- Mini bar with Munchie Box™
- One king or two queen beds featuring pillow top/featherbed mattresses & plush linens
- Media-style audio/visual including:
42" flat panel TVs
DVD player
Stereo/CD player
MP3 player docking station
Concealed print/fax/scanner combination
Wireless high-speed internet access - Separate seating/lounge area
- Dresser and nightstand
- Desk & task chair
- Stunning bathrooms with oversized showers
- Vanity area with specialty lighting
- Micro-fiber bath robes
- Hair dryers
- Convenient linen storage
- AV controls featuring electronically controlled drapes
- Electronic safe
- Functional direct & indirect lighting
Earnest Money Deposit Schedule
- Reservations
$10,000 initial deposit on Studios
$15,000 initial deposit on 1 Bedrooms - Unit Selection/Hard Contract - Mid 2006
Within 48 hours of signing the Purchase Agreement and unit selection, you will be required to increase your initial deposit to equal 10% of the purchase price. At that point, your deposit shall become non-refundable. - Second Deposit - At the start of construction, an additional deposit equal to 10% of the purchase price (20% in the aggregate) will be required.
All deposit requirements are subject to change at the discretion of the developers.
TOTAL DEPOSITS WILL EQUAL 20% OF THE PURCHASE PRICE.
Frequently Asked Questions Regarding the Condo-Hotel Concept
1. What is the difference between a traditional condominium and a condo hotel? Like a traditional condominium, condo-hotel owners can use their unit whenever they like. However, unlike a traditional condominium, condo-hotel owners have the option of participating in the hotel rental program and sharing in the revenue that the unit generates.
Condo-hotels are also purchased as fully furnished units. This allows unit owners to enjoy professionally designed and appointed units without the time-consuming hassle of designing the unit themselves. Purchasers of traditional condominiums would need to design, furnish and maintain the unit themselves.
Lastly, condo-hotels offer unit owners the same amenities and services as hotel guests, which range from room service and housekeeping to direct access to restaurants and clubs.
2. Why have condo-hotels become so popular? It is a concept that makes sense. If structured correctly everyone wins. The condo-hotel concept allows worry free vacationing and travel to your second home.
In addition, it is ideal for owners who don't want to occupy the condo year round. The buyer wins because some of their expenses are offset by participating in the hotel rental program.
3. Can family members and friends use the owner's unit? Yes, with the permission of the owner.
4. Can unit owners furnish their own units if they wish? All units are purchased fully furnished. If the unit is placed in the hotel rental program. the owner must comply with the hotel's furniture selection. However, the owner is free to bring any personal items while they are staying in their unit, which are taken with them when they leave or placed in storage. If the owner does not wish to participate in the hotel rental program at any time, they may furnish their unit however they like.
5. What are the fees associated with owning a condo hotel? All unit owners will become members of the HOA (Home Owners Association), which will establish a budget of shared expenses, such as the cleaning and maintenance of hallways, electricity and the expenses associated with any staff that is dedicated to the operation of the condominium and the Association. These expenses are then assessed to all unit owners on a monthly basis. Owners that participate in the hotel rental porgram may be assessed other fees. Owners will also be responsible for the yearly property taxes and insurance for their individual units.
6. How do you finance a condo-hotel purchase? Condo hotel purchases may be financed through a lending institution just as any other real estate purchase.
7. What type of ownership is a condo-hotel? A condo hotel is owned in fee simple, just like a standard condominium or your house. Unlike timeshare, the condo hotel is not a shared ownership of the individual unit.
8. What is the role of Starwood? The key to the successful operation of a condo-hotel is the hotel operator. The better the operator, the more likely the success of the property. Starwood Hotels and Resorts, one of the leading hotel and leisure companies in the world with more than 750 properties, will provide marketing services and the reservation engine to attract guests to the hotel.
*Promotional information provided by Developer
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