REAL ESTATE MILLas Vegas Review-Journal | reLIOviewjournal.com | Sunday, NSDecember 27, 2015 G1 RJrealestatemillions.vegas
Questions? Contact Lyn Collier at 702-383-0299 or [email protected]
HIGH-RISE UNITS THE PRICE OF THE VIEW
“We’ve spent maybe 10 nights total in the unit. That makes it a very expensive hotel,” said Joe Casper, owner of the Panorama Towers penthouse. “But we bought the view, which is extraor- dinary. You can see the Stratosphere, and as far south as you can see it’s an unobstructed view.” COURTESY PHOTOS Two Panorama Towers units great places to watch fi reworks
By Susan Stone | Real Estate Millions
he advent of high-rise luxury condo buildings is prices of the unitsare because of an overall market drop relatively new to Las Vegas, and a lot of their value orbecause ofthe subsequent building of The Martin, which T blocked the north views from Tower I. comes from the opulent view such a home affords. You have to wonder then if the biggest gambles are being “It all depends on your perspective,” said Randy Char, waged in the local casinos or the sales office of these lavish owner/broker of Char Luxury Real Estate, who has sold dwellings. If the view changes, how does that affect the many units there and owns one. overall value? “The Martin killed the north view, and your west view is The blue twin Panorama Towers on Dean Martin Drive basically unchanged. The side facing the Strip is definitely west of Interstate 15 opened at the height of the Las Vegas a premium, and levels 24 and above command higher price real estate bubble, so it’s hard to determine if the stagnant because of the spectacular view.”
The chic, modern Panorama retains a cache fight traffic to get there. north, east and west, the early bird got a bird’s of sophistication nearly 10 years after open- Two condos currently for sale in Tower I are eye 270-degree view of Las Vegas, at least ing. Residents can take advantage of VIP described below. until the completion of The Martin directly services, such as free concierge andlimo rides north, which diminished but didn’t obliterate to the airport; a 5,000-square-foot fitness Unit 2400 custom-built it. The east balcony featuring river rocks and facility with lavish spa amenities; a guarded Unit 2400 was built in 2006 as a stopping a bubbling fountain offers great views from gate and valet parking for a monthly fee. point for City Center President and CEO Mandalay Bay to Bellagio, including the new Another benefit is Panoramas’ proxim- Bobby Baldwin, who spared no expense in arena. From the west balcony isa viewthat ity to the Strip’s hot spots, and enjoying the creating a luxurious urban retreat that is styl- includesthe Spring Mountains, the Rio and upcoming New Year’s Eve fireworks from the ish and comfortable. comfort of your own home, without having to By combining three single gray shells facing SEE PANORAMA, G2
THE HIGH-RISE THE PENTHOUSE
Unit 2400 in Panorama Tower I has two bedrooms and two full baths, and most of the 3,400 Unit 3303 in Panorama Towers measuers 4,000 square feet and has views of the Strip. It’s square footage is devoted to common areas. It is listed for $2,000,000, $586 per square foot. priced at $1,999,999, which works out about $590 per square foot.
LOCATION: 4525 Dean Martin Drive No. 2400, Panorama Tower I LOCATION: 4525 Dean Martin Drive No. 3303, Panorama Tower I PRICE: $2 million, $586 per square foot PRICE: $1,999,999, $590 per square foot SIZE: 3,414 square feet, two bedroom suites, two baths, three private terraces, SIZE: 3,390 square feet, two master bedroom suites, 2.75 baths, two terraces, three parking spaces three parking spaces FEATURES: 270-degree views of City Center, Palms FEATURES: A middle, center unit with east view of City Center, only penthouse in HISTORY: Designed by Jones & Greenwold Architecture + Interiors in 2007 for Tower I; one of only two penthouses in Panorama Bobby Baldwin, CEO of City Center; sold for $2.250 million in 2009 to Jim Kroner HISTORY: Sold for $2,052,012 in July, 2007 to Joseph and Susan Casper LISTING: Kamran Zand of Luxury Estates International LISTING: Kristen Routh-Silberman, Synergy Sotheby's International Realty
#,2/24/2!>- @+?23 &; B,+- 2-+B2-6 *$(*"* <2!AB7 !;4 +;-5+/!B+8; 08/.2!;!2-B,2B+9 B,!B1- /!/2 +; B,+- =8/@43 #+B, !-B8A;4+;. B858./!5,7 !;4 A;98>5/8>+-+;. ?+2=-3 &B1- !;2= -B!;4!/4 08/9A-B8> ,8>2-+B2-3 '8/!5/+?!B2 B8A/6 98;B!9B !%2/-8;!@$!@2- (8;9+2/.2 B84!73 .,-$.# !#,, )+&*+%+"*'( G2 Sunday, December 27, 2015 | Las Vegas Review-Journal | reviewjournal.com
The pool at Panorama Towers on Dean Martin Drive west of Interstate 15.
Unit 2400 was custom- built for City Center Presi- dent Bobby Baldwin. It was built in 2006 by com- bining three single gray shells facing north, east and west.
The penthouse at Panorama Towers on Dean Martin Drive has a view from every room. COURTESY PHOTOS
get up for.” PANORAMA The kitchen has white counter- From Page G1 tops, a six-burner stove, flat-panel cabinets, a built-in wine fridge and a Palms Place. pull-out pantry, Sub-Zero refrigera- The floor plan is wide-open between tor and espresso maker. Its Melange both terraces, and when both the tile floor is matte-finish porcelain 10-foot pocket doors are open, it cre- with interwoven threads for strength ates a literal breezeway for sky living. giving the appearance of linen. With only two bedrooms and two The master suite has its own small full baths, most of the 3,400 square balcony that touches but doesn’t footage is devoted to common areas. connect with the east balcony. It Panorama Towers’ unit 3303 was built from a gray shell by owners Joe and Susan Casper, who live From the kitchen on the east side to features a wall-mounted headboard in Boulder City but use it for the occasional night on the town. the dining area and atriums on the of a leather-look wood, a TV niche west side, the living areas all connect and wooden bookshelf recessed into seamlessly. the wall. The black porcelain tile floor Zand said, “This home is meant for square foot easily," he said. Although Baldwin reportedly spent continues into the bath. a single person or maybe a couple. Could be a poker player who just needs Unit 3303 a penthouse more than $4 million dollars to build Three steps lead to a slate-walled one bedroom, who wants an office the unit, it’s for sale now at less than master bath that includes a limestone On the top floor of Tower I, unit half that. soaker tub nestled into a corner, but wants the option to have guests 3303 is a bona fide penthouse with a in as well. For entertaining, you can “It’s a steal for whatever buyer gets with a view of Aria. The omnidirec- view of the Strip and City Center. easily fit a hundred people … and not the property,” said Kamran Zand of tional, 12-foot, walk-through shower It was built from a gray shell by Luxury Estates International, who has has been compared to a human car be crowded at all. It could be their owners Joe and Susan Casper, who the listing. wash. The vanity features a single, main residence or a second home, but live in Boulder City but use it for the it would be an amazing second home The home is modern but warm. troughlike white vessel sink with occasional night on the town. “We’ve Across from the stylish teak entry, a dual chrome faucets and backlit wall where you could turn everything on spent maybe 10 nights total in the monolithic wall houses a low rect- mirror. After a long day, retreating to and off with one button ... and live an unit. That makes it a very expen- awesome life here.” angular fireplace insert alongside a this bathroom, opening the drapes, sive hotel,” Joe Casper said. “But we “If this unit was in Mandarin (Ori- fresh water aquarium. Dual atriums lighting a candle and dropping into the allow nature into the mix, wrapping a tub would no doubt invoke a drop in ental) we’d be at $1,500 to $1,800 per SEE PANORAMA, G3 corner that leads to the east balcony blood pressure. enclosure. The current owner paid $2,225,000 “You won’t get this in any other for it in June 2009. “Bobby Baldwin unit because it was done before the sold it to him at a great rate, and he’s HOA (homeowners association) passing it on at an even better rate to was formed,” said Zand, who added the next purchaser, Zand said. “There that the gas insert fireplace won’t be are so many custom features in here, I found any other place except possibly could spend hours going through them Queensridge because of ventilation all.” restrictions in most high-rises. The second bedroom is set up like The atrium is made of a type of glass a home office, with a queen-sized that also creates a sound barrier. It has Murphy bed. the same surround sound speakers in the rest of the home. The materials used are a mixture of RJrealestatemillions.vegas slates, Xilo tile, Caesarstone coun- RJrealestatemillions.vegas appears Saturday and Sunday in tertops, Italian porcelain tile on the the Las Vegas Review-Journal. Submit information to lcollier@ reviewjournal.com. Deadline for submissions is 10 days before walls, chrome globe light fixtures, and publication, 1111 W. Bonanza Road, Las Vegas, NV 89106, leather-paneled walls. Each helps dis- 702-383-0299 tinguish the different areas yet blend Publisher: Jason Taylor together well. Director of Product Development: Hal DeKeyser Every door is a pocket door —none swing (except the entry). Editor: Lyn Collier Contributors: Holly Devore, Stan Hanel, Felicia Mello, Art “The quality and custom finishes in Nadler, Susan Stone, Greg Thilmont and Donna Yahner this home are equivalent to what you would see in The Ridges,” Zand said. Photographers: Elke Cote, Tonya Harvey and David Reisman “A lot of elements in this unit create a VP of Advertising and Marketing: Lee Bachlet different aesthetic than you would see Director of Classified Advertising: Nate Rodriguez in any other unit.” All windows have sheers and Real Estate Division Sales Manager: Carla Royter blackout drapes, and everything is Real Estate Account Managers: Claire DeJesus, Julio Jimenez, controlled by an automation system, Martha Salzman, Lindsey Dague 01.(*1 -"+.'%)# !,.&*1 $)#'#/&# he said. “There’s nothing you need to For advertising: 702-383-0483 or 702-480-6626 &"$"2*!!)5>;#"52"'*2%&B P4IL3&F)74: >9$ D-L:$KI -4& C3KI (%&" %! C-:47S)$4I 'FKI35 *F76I A$4I93FK$ 3" -%%8 2>+%85 ;%@2#>/5%: <$$L >3E$LKM <7KF-66/ ?IF4474: -4& %7:7I-66/ $(" #""' 9A66!DC -=4DC (,3?E 5E 1/F.< 9706 ?3197KI7)-I$&( >97K '3L4$L =47I B""$LK >9$ <$L/ *$KI D-K <$:-K ?IL71 <7$EK( !633L8 I38'$7674: ;74&3EK( R35$ ,FI35-I734 !$-IFL$K -4& >3183"8I9$8D74$ !747K9$KM !F66/ !FL47K9$& -4& >FL48N$/MH(O2O ?@!> +G*%+GMQ *,M
"'%#'$ !'$& "%%&$&' !# %#!$""!""" *!"%&!#)"-$'&! (-,-!+ #KI-I$K P4I$L4-I734-6 EEEMDF0FL/R35$KD-K<$:-KM)35 J.GMHQOMG.GH Las Vegas Review-Journal | reviewjournal.com | Sunday, December 27, 2015 G3
RIGHT: The penthouse in Panorama Tower I has two master suites with oversized baths featuring luxurious vanities and jetted tubs alongside a glass and marble shower stall. COURTESY PHOTOS
FAR RIGHT: Unit 2400 in Panorama Towers has a master bath that has an omnidirectional, 12-foot, walk-through shower that has been compared to a human car wash.
jetted tubs alongside a glass and marble shower PANORAMA stall. From Page G2 There is a half bath, a dining room with custom-cut crystal light fixtures; open kitchen bought the view, which is extraordinary. You with prep island and eating bar and cherry can see the Stratosphere, and as far south as cabinets with black granite countertops; an you can see it’s an unobstructed view.” office nook and lots of entertaining area. The “It’s truly one-of-a-kind,” said Kris- ceilings are 12 feet, which according to the ten Routh-Silberman of Synergy Sotheby's owner, is not true of other units, and there International Realty, who has the listing. “This is plenty of glass window to go around. The unit is a middle, center unit, so this penthouse marble floor features an inlaid detail at the was never blocked by The Martin or the other front entry. Panorama Tower going up. Its windows are 100 It’s priced at $1,999,999, which works out percent straight on the Strip; it doesn't wrap about $590 per square foot. around the corner ... which is why this pent- Will luxury condo prices ever rise high again? house is the best-positioned” she said. "High-rises across the board are not selling Every room has a view. At almost 4,000 for their replacement costs,” Char said. “Even- square feet, it has two master suites, with over- tually, demand will catch up to value. So the sized baths featuring luxurious vanities and good stuff gets better as prices rise.”
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unday, December 27, 2015 | Las Vegas Review-Journal | reviewjournal.com ".(!0#.01 $/.*' 1%1(/!2 !2(1!)3 &/10 )!21 -& (1!+, 'E-:9D1 :+A-E :<<1 6--/ :0<:4-A3 .,-$.# !#,, )+&*+%+"*'( ,$#9 #9 PO8 #P8>P?>? 8O C> EP O&&>; 8O 9>!! PO; E9O!#A#8E8#OP O& 8O O&&>;9 8O C60;>E! >98E8> #P :9AE0E C0 ;>9#?>P89 O& EP098E8> #P 2$#A$ ;>%#98;E8#OP #9 ;><6#;>? C68#P2$#A$ ;>%#98;E8#OP $E9 PO8 C>>P QE?>F,$#9 O&&>; #9 4O#? 2$>;>=;O$#C#8>? C0 !E2F :9AE0E #9 EI>4E?E ;>9#?>P8#E! AOQQOP #P8>;>98 AOQQ6P#80F:!! #P&O;QE8#OPG ?>=#A8#OP9G9=>A#' AE8#OP9G!O8 9#M>9G=;#A>9 EP? EQ>P#8#>9 O& :9AE0E!#98>? O; ;>&>;>PA>? E;> =;>!#Q#PE;0EP? E;> 96C">A8 8O A$EP%> C0 8$> ?>4>!O=>; E8 EP0 8#Q> 2#8$O68 PO8#A>F,$> EA86E! 8>;Q9 EP? AOP?#8#OP9 O& =6;A$E9#P% E!O8 E8 :9AE0E E;> E4E#!EC!> 8$;O6%$ 8$> :9AE0E 9E!>9 O&'A>F/@DB( :9AE0E LPAF :!! .#%$89 .>9>;4>?F 7+-,HJ NHJ3 .3I53.LI1 7H+.,3-* J:.JHK .:5)LI3.