Sale of Finished Sky Suite Breaks $1,000 Square-Foot BarrierLAS VEGAS – (Aug. 9, 2007) –
Sky Las Vegas, the only luxury, high-rise condominium located on the Las Vegas Strip, and Luxury Realty Group, Inc.
, a leading Las Vegas luxury real estate brokerage, today announced the sale of a three-story Sky Suite for $4.6 million.The purchase, by an international buyer who is the chief executive officer of a major overseas company, set a new record for the highest sale price of a single-unit, finished condominium at Sky Las Vegas: more than $1,000 per square foot.“This spectacular, three-story suite includes its own interior elevator with a rooftop Skydeck made for entertaining with an outdoor BBQ and Jacuzzi overlooking the glistening lights of Las Vegas,” said broker Bruce Hiatt, co-owner of Luxury Realty Group and a Sky resident.Sky Las Vegas, which opened to residents in April, has less than 10 percent of its 409 units available for purchase from approximately 870 to 5,500 square feet, priced from $700,000 to more $5 million. Each offers amazing views and a Las Vegas Boulevard address.This Sky Suite occupies floors 43, 44 and 45 of the 45-story tower. It includes a rooftop expansive Skydeck perfect for entertaining with an outdoor Jacuzzi. Add to those private amenities the soaring two stories of floor-to-ceiling glass and high-vaulted ceilings, and it creates the ultimate Sky Las Vegas experience.The first floor (43) features the living room, dining room, kitchen, one bedroom with full bath, powder room, wraparound glass balcony and entry. The second floor (44) houses the master bedroom and bath, a second bedroom with full bath and a laundry room. The third floor (45) includes a sunroom, another bath, powder room, Skydeck with Jacuzzi, an outdoor stainless-steel kitchen with BBQ and a large patio deck for entertaining guests.“As opposed to other current projects, which are timeshares and condominium hotels, Sky provides buyers the opportunity to own their own piece of the Las Vegas skyline offering homeowners luxury and location with a global address,” said Gina Jackson, director of sales and marketing.“Sky Las Vegas has been designed with the luxury buyer in mind,” Jackson added. “We are continually striving to meet the needs of those seeking the best money can buy on The Strip.”“Sky clearly attracts an international luxury condo buyer who wants to live on the Strip and be surrounded by luxurious hotels, restaurants and world class services,” Hiatt said. “There are a limited number of Sky luxury condos still available for those wanting the ultimate luxury condo lifestyle on the Strip.”“The current real estate climate is not affecting international high-end luxury condominium buyers who want to own luxury real estate with a prestigious address in Las Vegas,” Hiatt observed. “A significant number of Luxury Realty Group’s clients are international with multiple homes or condos around the world.”Sky Las Vegas is a project of Sky Las Vegas Condominiums, Inc., a joint effort of M. Aaron Yashouafar, chief executive officer of Milbank Real Estate Services, Inc., a 27-year-old Los Angeles-based full-service real estate company specializing in development and commercial property management, and David Pourbaba, founder and president of 4D Development, a California-based development company with projects in Texas, California, Arizona and Nevada.Luxury Realty Group was founded by brokers Bruce Hiatt and Simon Chen, who are Sky Las Vegas residents. From Sky’s number-one highest-dollar selling award to recognition as a top-10 global brokerage selling MGM MIRAGE’s CityCenter, Luxury Realty Group’s list of awards and national press recognition as luxury real estate experts is extensive. For 2007, Luxury Realty Group adds to its list of achievements by positioning itself in the top seven of all luxury condo re-sales in the prime Strip area. For more information, visit http://www.luxuryrealtygroup.com