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Conrad Majestic Las Vegas - Conrad Majestic - Waldorf Astoria Condos

Conrad Majestic Las Vegas
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Conrad Majestic Las Vegas Condos - Waldorf Astoria Las Vegas

For the third time, the Conrad Majestic project as been put on hold and possibly/probably canceled.

Register for our Priority Interest List for the Conrad Majestic Las Vegas

The Conrad Majestic Las Vegas is back! Almost three years since its original announcement, local Las Vegas developer Lorenzo Doumani has finally gotten his dream project at the northeast corner of Las Vegas Boulevard and Convention Center Drive redesigned and re-approved. Much of the delay came from a legal battle with the Majestic's next door neighbor, the now defunct Icon by Related Group. Doumani was forced to file a lawsuit over obstructed views and emergency vehicle access. The six month legal delay, amid rapidly rising construction costs, ultimately doomed the Icon project despite record breaking sellout of its first tower.

Doumani's redesigned 654 foot tower will now feature a 216 room five star Conrad hotel, 696 Conrad condo hotel suites and, a first ever, 76 Waldorf Astoria branded residences. The Conrad Majestic will feature a dazzling array of first class amenities including a 2.5 acre pool deck with tri level infiniti pools, jacuzzis and cabanas, a 27,000 square foot world class European spa and health club, valet and limosine service, three gourmet restaurants, a nightclub, and business center.

The condo hotel units will range in size from 630 to 1,200 square feet and be priced from the mid $600s to approximately $1.5 million. "At this point, I'm not worried about saturation," reported Doumani. "The condo-hotel market runs like the hotel market, as opposed to the housing market. And Las Vegas still has a 91 percent occupancy rate citywide."

The 76 Waldorf Astoria luxury residential condominiums will run from 2,000 to 5,000 square feet in size on the top 10 floors of the tower. Christie's Grand Estates will handle sales and prices are estimated to start at around $1400 per foot up to $2,000 per foot or between $2.8M and $10M. These limited edition units are expected to sell out quickly as this is the first time Waldorf Astoria residences have ever been marketed for sale anywhere in the world.

The Conrad Majestic is being designed by Paul Steelman, who is also currently working on projects for both Harrahs and the Hard Rock, and construction is estimated to begin in May of 2006 with completion in 2009. Originally estimated at $250M, construction and design costs have now been estimated at $825M.

 

 

Conrad Majestic Las Vegas - Conrad Majestic - Waldorf Astoria Residences

 


 

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