As summer in Las Vegas sizzles, so sizzles condo sales at Juhl, a community spanning an entire city block in downtown Las Vegas with a record 30 sales in 90 days. And at One Las Vegas on S. Las Vegas Blvd., a twin-tower high-rise condo community close to the Las Vegas Strip, a luxury penthouse just sold with fewer than 14 homes remaining.
“Over the summer, I expect to see the number of overall closings to continue to climb,” said Uri Vaknin, a principal with KRE Capital, which owns both Juhl and One Las Vegas. “The Las Vegas condo market, like the Las Vegas economy overall, is on fire – and with good reason.”
According to Vaknin, a hefty percentage of recent Juhl and One Las Vegas buyers are from other markets who have chosen the carefree condo lifestyle over the responsibilities of maintenance-heavy single-family home ownership. Additionally, many of the new condo buyers have moved to Nevada to escape the high cost of living, high taxes and traffic congestion in states like California. Plus, both communities have seen an increase in second/vacation home purchases.
While sales of multi-million-dollar condos in Las Vegas have recently made international headlines, Vaknin believes that the Las Vegas condo market is accelerating with buyers scooping up condos between $350,000 to $1 million.
“What buyers have quickly come to realize is that condominiums in Las Vegas at those prices deliver a luxury lifestyle impossible to find in other markets, with the added bonus of everything Las Vegas has to offer – from world-class dining, entertainment and shopping, and now, professional sports,” said Vaknin.
Meeting the demand for value-priced affordable luxury condominiums, Juhl offers loft-style condos with dozens of flexible floorplans from the mid $200s to over $1 million, including its distinctive two-story live-work collection and The Penterrace Collection, featuring 2-story penthouse-style condos that include a large, private terrace that opens onto the pool deck, expanding the options for indoor/outdoor living. All Juhl condominium homes feature floor- to-ceiling glass windows, 10-foot ceilings, modern finishes and features, private balconies and terraces and exposed concrete surfaces creating Juhl’s unique urban vibe.
Attracting millennials, empty nesters and retirees, Juhl’s luxury lifestyle and ideal downtown Las Vegas location epitomizes modern urban living within walking distance of world-class and neighborhood-centric entertainment, restaurants, art galleries, nightlife and shopping, as well as a central location close to the city’s cultural attractions and Las Vegas’ professional sports venues.
Now over 95% sold at One Las Vegas, the final release of 2 and 3-bedroom plus den homes are now available starting in the low $400s.
One Las Vegas’ modern twin-tower, 20-story condominium community is five miles from T-Mobile Arena, home of the Vegas Golden Knights, and minutes from the Allegiant Stadium, home of the Las Vegas Raiders. 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.
Setting the standard for affordable luxury and resort-style amenities, both Juhl and One Las Vegas have also led the way in simplifying the condominium financing process with low down payments and Fannie Mae and VA approved mortgages.