Betting on Vegas: The Comeback of Sin City’s Real Estate Market
Veer Towers, a luxury condominium project that sits in the heart of City Center on the Las Vegas Strip, is on a roll. Pordes Residential Sales and Marketing has now sold more than 215 units worth more than $100 million in just two years.
Right now, prices are on the rise with units selling for about $500 per square foot. That’s up 12 percent from this same time last year. The Veer Towers sales team is selling about 10 units per month. Compare that to the 6 units sold in all of 2012 and the 11 units sold in 2011 by MGM.
The BoardroomPR real estate team has been involved with the project since a joint venture purchased 427 units from MGM in December 2012. At the time, the Las Vegas condo market was in the very beginning phases of recovery mode, but still had a long way to go. BoardroomPR publicists submersed themselves in the Las Vegas real estate climate, met with reporters who specialize in the market, and sent them regular updates on the progress happening at Veer. Since early 2013, Veer Towers has appeared regularly in news stories in the Las Vegas Review Journal, Las Vegas Sun and Vegas Inc. In fact, their real estate success story was also just featured in Vegas Magazine—read about it here.