Already in October 2009 warned n our readers and investors from investing in High Rises.
According to the "Vegas One" broke now, the FDIC next to Loft 5 "" Newport Lofts "and" Juhl "and the" Streamline Towers "in their portfolio.
tried 4 years ago, the Developer the project, the homes between $ 413,000.00 - $ 930,000.00 to sell off, the success did not come. The construction costs amounted to $ 125,000,000.00 proud, was in June 2009 times quickly written off to $ 34,000,000.00.
just 27 of the 275 condos could be related to the man, and those who have invested in the grave Grosch, now turn up the pieces.
first is that the building has a new look, the lobby is renewed round - just times for $ 2,000,000.00. Such is life when you throw the good money after bad even more.
is optimistic the new sales company called ST Residential the distribution of the ruined building.
instead of selling condominiums, are now to the 248 units at $ 1,00.00 per month will be marketed to wealthy tenants. The only question is who in the old Las Vegas - Downtown - this rent will be ready to shell out?
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