Development

Real Estate, the New Dot Com - Ivana Las Vegas Super Tower Approaches $500M in Pre-Public Sales

Buyers from Silicon Valley Represent Nearly 90 Percent of the 300+ $1M Penthouse Units Sold To Date

Hotel News Resource Ivana Las Vegas, soon to be Las Vegas' tallest luxury residential building may also be an important barometer in signaling the strength and viability of the real estate market. The super tower announced today that pre-public sales for condominiums are nearing the $500M mark with total sales expected to yield more than $1 billion in gross sales.

According to Luke Chadwick, CEO, The Firm Las Vegas, a Las Vegas real estate marketing and sales firm, "An independent study shows 20-30 percent of all Las Vegas luxury residential properties sold over the last three years are sold to buyers living in and around Silicon Valley. The same 'tech gurus' and 'idea leaders' who fueled the technology bubble are now diversifying their portfolios and investing in real estate," he concluded.

"Over the last five years, we have watched as more and more leaders in the tech community have purchased real estate in Las Vegas," said Victor Altomare, CEO, Sahara Condominiums, LLC and partner, Ivana Las Vegas. "Now that the technology industry has stabilized, many of the thought leaders of that movement are investing in tangible equity. With the Las Vegas real estate market ranked 4th in America, the investment in this ribbon of gold makes perfect sense," he concluded.