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First CityCenter Condo Tower 90% Sold

LAS VEGAS-In the 14 days since MGM Mirage began converting reservations for Mandarin Oriental Las Vegas to hard contracts, 90% of the 227 residences are sold for an aggregate price of $600 million.

By Brian K. Miller | Updated on February 15, 2007

(To read more on the multifamily market, click here.)

LAS VEGAS-For an aggregate price of $600 million, MGM Mirage has sold 90% of the units in Mandarin Oriental Las Vegas, one of several condominium towers that are planned for its multibillion CityCenter development on the Las Vegas Strip. MGM Mirage began converting reservations for the Mandarin Oriental into hard contracts 14 days ago.

CityCenter began taking reservations for two additional residential offerings–Vdara Condo Hotel and Veer Towers–in January and will begin converting those to hard contracts within the next month. Approximately 600 reservations have been taken for Veer, which has 674 units, and 700 reservations have been taken for Vdara’s 1,543 units, according to MGM.

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