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Las Vegas Plaza Hotel - Plaza Hotel Las Vegas - Las Vegas Plaza Condos

The Las Vegas Plaza

Don't miss out on the spectacular Las Vegas Plaza. Sign up now for the priority interest list by going to the Las Vegas Plaza Registration or call 702-985-7654 and receive updates on the progress of this exciting new property.


In a record setting transaction, the New Frontier & Casino has been sold for over $1.2 billion to El Ad Properties,  which controls several New York City buildings, including New York's landmark Plaza Hotel. The El Ad Group will develop a $5 billion multi-use complex on the Las Vegas Strip under the Plaza brand. A replica of the New York Plaza will be built on the 34.5-acre site currently occupied by the 964 room New Frontier Hotel, which will be demolished early next year. Current owner, Phil Ruffin, said El Ad signed the purchase agreement last week for the site.

The Plaza Hotel was closed in 2005 to create a high end mixed-use property consisting of luxury condominiums, retail space and some hotel rooms. The Las Vegas Plaza will contain a luxury hotel, private residences and restaurants, as well as retail, convention and gaming space.  The complex will be directly across from the Wynn Las Vegas and the Anchor, Wynn Resorts Ltd.'s newest property.

Ruffin said the deal with El Ad does not include the seven acres on the backside of the New Frontier site which hold the $1.2 billion Trump International Hotel & Tower. Trump is thrilled with the purchase, and has already started a new advertising campaign touting the Plaza development as a benefit of buying in Trump Towers

"This is going to be a really good deal for the (Trump) towers, and it will help them out tremendously." said Ruffin.

Elad Group President Miki Naftali issued a statement saying the company intends to bring the Plaza brand to other cities, including Los Angeles, San Francisco, Washington D.C., Boston, London, Paris, Rome, Tokyo and Shanghai.

Construction of the Las Vegas Plaza is expected to take three years, with an official opening targeted for 2011.


 

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