December 13, 2019
In the past few months, the DK Las Vegas portfolio of condominiums, which includes One Las Vegas on Las Vegas Boulevard South, Juhl and The Ogden in downtown Las Vegas, has experienced unprecedented sales activity.
Two of the highest-priced residences in the entire portfolio, both at One Las Vegas, were sold, the most expensive home to date at Juhl — a loft-style community that spans an entire city block — was sold.
At One Las Vegas, a 2,857-square-foot, 19th-floor condo sold for $1,175,900, the equivalent of $411 per square foot. A second 19th-floor One Las Vegas residence with 2,857 square feet recently sold for $1,099,000, or $385 per square foot.
At Juhl, a 1,735-square-foot two-level penthouse sold for $749,900, or $432 per square foot.
Uri Vaknin, whose KRE Capital, through a partnership with Dune Real Estate Partners, acquired the properties as DK Las Vegas in 2013, said: “The sales speak to a consistent demand to maintain or upgrade to a level of luxury while right-sizing your lifestyle.”
The reasons for the portfolio’s success vary by property, he said, “but sales at all communities are uplifted by the universal appeal of a Las Vegas address created by the city’s quality of life, access to world-class dining, entertainment and shopping — and now, professional sports — and home prices that are still affordable relative to other markets, especially California, where a majority of our buyers come from. Buyers are trading in their California homes for a better quality of life in Las Vegas and a rich condo lifestyle created by an abundance of amenities,” Vaknin said.
Meeting the demand for value-priced luxury condominiums, One Las Vegas is offering residences on floors five, six and seven that are the same size and style as the 19th-floor condos that recently sold for more than $1 million. The luxury homes, which offer the same expansive floor plan and similar views, are priced at almost half.
Spanning approximately 2,857 square feet with three bedrooms and 3½ baths, they offer the same custom-designed kitchens, sprawling great rooms, luxurious master bedrooms with spa-like bath and en suite guest rooms. Ten-foot ceilings are accentuated by expansive floor-to-ceiling windows, and large balconies offer spectacular views.
Homes at One Las Vegas range from 1,305 square feet to 2,857 square feet and are priced from the high $300,000s with many floor plans offering views of the mountains and the Strip.
One Las Vegas’ modern twin-tower, 20-story condominium community is five miles from T-Mobile Arena and minutes from the Raiders’ new home, Allegiant Stadium. Neighborhood shopping and dining plus the excitement of the Las Vegas Strip are moments away. No location in Las Vegas provides easier access to the city, the region and the world via Interstate 15, the 215 Beltway and McCarran International Airport. Once operational, the new Virgin Trains station for the high-speed train from Los Angeles to Las Vegas will be near One Las Vegas.
At Juhl, the recently sold 1735-square-foot, two-story penthouse features floor-to-ceiling windows spanning nearly 21 feet. This chic two-bedroom, 2½ bath, luxury loft-style penthouse boasts an open floor plan, large flexible great room and spacious contemporary kitchen with island and full-size dining area.
A spacious outdoor terrace overlooks the vibrant city below. The second floor showcases a large master bedroom with adjacent study, walk-in closet and spa-style bath and a second master suite with an en suite guest bathroom.
According to Vaknin, Juhl offers dozens of one-of-a-kind floor plans, including a few that are similar to the recently sold penthouse.
Located in the heart of downtown Las Vegas, Juhl is within walking distance of more than 150 restaurants and bars and some of the city’s best nightlife spots. Not far from Juhl is The Smith Center for the Performing Arts, offering world-class entertainment, and nearby is the vibrant 18b Arts District bustling with hip galleries and interesting meet-up places.
Juhl condos range in size from 600 square feet to just under 2,000 square feet, priced from the low $200,000s.
With setting the standard for affordable luxury and resort-style amenities, DK Las Vegas also has led the way in simplifying the condominium financing process.