I believe the only floor plans left in inventory are the Madison, Hudson and Park. I personally like the layouts, however they built the Madison to be a hotel room, and the rest could be both hotel or condo. Of all the designs I like the Chelsea the best. The model could be seen at the old sales office however they did not rebuild it when they moved due to the fact that they were all sold out. The Hudson design is growing on me. They redesigned it slightly and now it gives the impression of a small 1 bedroom unit instead of a studio. The bathroom/shower/tub area is pretty unique. I wish I got it rather than the Madison.
I like the Cosmo studio units better that the Signature, which is the only comparasion that I think can be made at this time. The rest of the completed projects (Sky, Turnberry, Panorama etc.) are all residential condos and not comparable in my opinion due to location or a different type of product. One could argue that they will hold or increase in value over time, none will offer the central strip location that will be hot for years to come. Alot has been said about the north strip locations, however it will be years before any significant development can transform that area into what the center strip will be by 2010 or 2011. (Originally, Cosmo was to be completed by 2007 and City Center by 2008) I believe when finished City Center and Cosmo will stand alone in terms location, amenities and growth (which translates into future appreciation).
Regarding the balconies, I view them as a definite positive. Anytime you can increase your square footage (however limited) with a unique space not offered by most of the competition, it is a plus.
Was just over at the CityCenter sales pavillion this weekend and I really liked the layout of the Vdara deluxe studio. The seperate kitchen, living room and bedroom have a big impact on delivering a one-bedroom like feel, and the building's architecture itself (designed by Raphael Vinoly) is a huge plus.
It is true, the units at Vdara facing North on the east side can command a $100,000 premium over units that will not have the potential Bellagio fountain views. Although the view is not guaranteed, there is an empty portion between the Bellagio spa tower and Cosmo that will likely yield a strip / fountain view.
Went to the old Cosmo sales center (before it was moved) and really liked the Japanese soaking tub and the doors that allowed the studio bedroom to be seperated from other areas. Also, the balcony space is huge!
I think the best condo hotel bets are the ones that have great management and lots of attractions nearby. Vdara, in-between CityCenter's resort and casino and Bellagio is a no brainer, Cosmo with on-strip access and Hyatt management is also a great bet. Trump won't have a connected casino until The Plaza is finished in 5 or so years so it'll take awhile.
I agree with justdefended. However, the Hyatt management is really turning the screws on the rental split (less than 50% to the owner plus you pay all the fees). For starters, you have to decide whether you want a condo or a hotel room that will make money (or just breakeven). The Hyatt rental "agreement" is a one sided contract that you need a team of lawyers to decipher for you. There has already been one revision with minor concessions from Hyatt but not on the fee schedule. I have a hard time with renting my unit, getting less than half of the nightly rental fee, paying all the expenses and not getting to use it when I want. I don't know about other Cosmo owners but I didn't like the deal and this could have an impact on your expected return.
i saw the palazzo at night and where the "palazzo" letters are on the sides are colored lights.....
above the horizontal break is a subtle red glow and below is a subtle purple glow....why? these lights are coming from the side moldings surrounding the letters. these colors (or any colors) dont make sense.
also the planet hollywood sign (which looks like a nissan car dealership sign to the T) is now lit up. it quite bright with white lights along the sides, but a tacky 'panasonic' sign below the PH symol gives a bad taste of product placement. Also i beleive the nissan / PH sign which also reminds me of the MGM sign, is way too small and short.....
Regarding Palazzo's side lighting. here's a photo I shot on Sunday night.
I really hoping that they are just testing colors and hate these . Orange or yellow might be OK, but I think any color would take away from the classy image Palazzo is poised to portray. Just MHO
at VTAT theres a new shot of encore with the question concerning if there is a problem with some of the instaled glass, seems like some windows are more transparent than others.....but if you zoom in it looks like maybe these questionable windows are just dirty........?
either way its an interesting find.
ALSO im wondering what the hell is going to be at the podium level of encore. (meaning what building will be infront of the tower and strip side?)
there is no way surely there are going ahead with that pink and red neon lighting on palazzo. It will look like a 650ft version of one of them strip clubs on industrial
Las Vegas is undergoing a huge construction boom, thats right.
I don't live in Vegas but I went there few days ago and took this picture with my camera, notice the number of cranes ! http://img401.imageshack.us/img401/8...2007021hf7.jpg
I know I'll be in the minority here, but I think the lighting
on Palazzo is nice, especially if they change the color for
different seasons, just as the Empire State Building does.
Another example of a classy looking building that is lit up
with colors is the MetLife tower at 23rd street and Madison in NYC. It looks classy in the day and vibrant at night. I think it would be worse to keep the Palazzo's windowless sides with bland lighting, it would make the building seem dead.
Its nice to see at least one other person actually read those rental agreements. I am assuming you did not sign. I especially like the part where the owner signs away his/her voting rights in the association to the Hyatt or ?? Since this is both a hotel and Condo Hotel I am especially concerned the management will end up taking over the homeowners association and make decisions based on something other than what may be best for the owners. It was also interesting to note the owner may never be able to use their own personal units during their allowed times especially during peak usage periods. I would forget about the holidays and weekends. Then there was the thing about the management being allowed 3 free days of their choice where they do not reimburse the owners anything. Now thats some huevos.
Looking at other proposed rental agreements from other major hotel condo projects they are getting even more one sided with each project going up. Other than Vdara, which I disagree in that I feel it is not a great deal regardless what side you are on, and Veer, the MGM city center looks like they will limit the rentals on their hotel/condo units to 6 month minimum leases only. I believe many of the newest to build, similar mixed hotel and residential type buildings, will be doing the same to maximize the Hotel's earning potential while at the same time keeping portions of the properties as residences without transient traffic.
I am involved in numerous units at the Cosmo all of which are Hudsons and or Chelsea floor plans which I found to be the best though I only had basic drawings when I entered into the deals.
I confirmed that when I again looked at the Hudson this weekend. The layout gives a real feel of a one bedroom unit rather than a studio especially when the doors are closed to the bed area. At the time I signed the contracts there were no doors planned and I asked if I could install my own. Now I don't have to do a thing.
I did look at the model, when it was up, of the Madison and it was killer as well. I just like the ability to close off the bedroom.
I also chose all north side units. I agree the fountains will not be as dramatic from above but the view, from either the soaking tub, bedroom, living room or balcony should be hands down one of the best in Vegas.
All in all I believe the Cosmo is the best bang for the buck in the Vegas Hotel-Condo market. The compactness of the complex will be a plus for those wandering from rooms to pool, restaurants or shopping. The only concern I have is the apparent cost over runs may create some havoc somewhere. Hopefully it will not affect those of us holding contracts.
FOD
Last edited by fishordie; Sep 13, 2007 at 11:53 PM.
I havent received any info on rental split for the Beach Club Tower. Are you in the main building? What other info re. the split can you share, it would be appreciated.
I just spoke to a Rep. at Cosmo. they have not finished the agreement for the Beach Club Tower. Also, she said the agreements are from the Cosmo. not the Hyatt....wonder what that's about? The Phone number (702) 309-6337 is dedicated to the rental program, reservations and other Hyatt/condo-hotel information.
Prev
. Orange or yellow might be OK, but I think any color would take away from the classy image Palazzo is poised to portray. Just MHO
Linear Mode
