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November 21, 2009

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Buyer's remorse hits early CityCenter condo buyers

(via The Wall Street Journal) · July 6, 2009 · 10:44 AM

One of the costliest and highest-profile condominium developments in the country -- the $8.4 billion City Center project in Las Vegas -- is facing a revolt from some early buyers, The Wall Street Journal reported today.

Some buyers who signed contracts are demanding significant price reductions, and have hired a law firm to take their grievances to the project's principal developer, gambling company MGM Mirage. Others want their deposits back. Some are using a Web site, citycentercondodepositgroup.blogspot.com, to air their grievances.

Discussion: 2 comments so far...

  1. By neiman1
    7/6/09 at 12:35 p.m.
    Suggest removal

    No one will willingly pay pricing from two years ago in today's market. The City Center finish will be a huge hurt to Las Vegas. The construction jobs are worth so much more than a huge facility undercutting all other pricing and emptying the other properties. Get ready for a rough ride in Las Vegas.

  2. By dipstick
    7/6/09 at 3:16 p.m.
    Suggest removal

    sounds like they invested with madoff,too. now what?

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