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MGM Unloading CityCenter Real Estate At Steep Discounts

By Chuckmonster on Thursday, 9th February 2012 5:42pm
  » filed under Las Vegas  comments: 7


MGM Resorts International has partnered with Sotheby's to unload on unsuspecting Canadians their failed CityCenter residential real estate play at discounts of up to 50% off.


Why buy when if you wait a little longer as be able to convert M Life tier credits into a Vdara timeshare.... all for playing nickle poker slots!

Big thanks to KK for dropping the tip!

Tagged: citycenter   murren   real estate   reacharoundassgrab   


Comments & Discussion:

I had heard about them working with Sotheby's to bring in foreign investors, but hadn't thought Canada would be one of the markets. They haven't even offered a 50% discount here in the states. The had the 30% discount before opening to try to salvage the presages and haven't really gone much more than another 10-15%. With the way Vegas hotel rates are recovering, I think they might get takers now at a 60-65% discount. Not sure if this includes Vdara or just Veer and MO.

Nice one! On the last tag you put on that one Chuck.

Interesting...so how many Canadians will take the hook they have dangled in front of them?

I would market them to wealthy Chinese as well!

Wow that tip came from Kirk Kerkorian?

Coming from Vancouver, I can tell you that a disturbing proportion of Canadians simply don't believe in real estate bubbles. Any downturn is to be considered an opportunity and only temporary set back. I am sure that there will be many purchasees from here, Toronto and Alberta: jumping at the chance to leverage their newly minted million dollar crack shacks for this "exclusive" opportunity.

@fersure, I'm not so sure if that's right. Most of the overly wealthy peeps I know in Alberta are kinda just holding on to their cash (I only know, cause I want them to invest in me so I can open another bar.....tight fisted sons a bitches). And the ones that go to Vegas regularly get free rooms, so why buy a condo. Now if this was Pheonix, or Palm Desert than yah, they are looking. Most people look at Vegas as a quick vaca to gamble a ton and get free shit, they don't really want to own there. It's not as cool impressing your friends with your strip side condo as it is getting a free suite from you very own host.

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