Vegas Grand Bella Venezia

Las Vegas, Nevada

 

Units: 212

Sales & Marketing: Del American

Contractor: Sumitt

Construction Lender: Lehman Brothers

Construction Loan: $78,000,000

Investor: Lehman Brothers

Started: 2005

Sold: 2007

Sale Value: $95,400,000

 

Vegas Grand Bella Venezia is located off the Las Vegas Strip at 818 E. Flamingo Rd. in Las Vegas, Nevada. Del American developed the property as condominiums using credit enhanced conventional financing. The property was built in two 3 and 4 story wrap courtyard buildings with structured parking. The community features an Italian architectural style and 11 unique floor plans, 1 to 3 bedrooms, ranging from 660 sf to 2130 sf, averaging 1450 sf. Finishes included stainless steel appliances, 9-10' ceilings, granite tops, etc. Amenities included a 5000 sf club house space, fitness center,  luxury roof top pool with cabanas , 24/7 Guarded Entry, roof top  tennis courts , and alfresco cafe. The units were priced from $250k to over $650k. The market softened in 2007 and the for sale condos seamlessly transitioned into rentals.