November 29, 2007
ManhattanWest Wins NAHB Silver "Nationals" Award for 2008 Condominium Community of the Year

Development Honored as One of the Five Best Condominium Projects in the Country

Gemstone Development announced today that its ManhattanWest project was one of only five communities nationwide honored by the National Association of Homebuilders ("NAHB") with a Silver Award for 2008 Attached Urban Community of the Year. The NAHB will present its Gold Award to the top project in the county at the 2008 International Builders' Show in February.

"The 'Nationals' are the largest, and most prestigious awards in the homebuilding industry," said Gemstone Development VP Marketing, Mark Chatow, "Winning an award of this caliber, particularly when we're competing in a market with attached projects including City Center and Trump, validates our vision for ManhattanWest, and highlights the success of the project to date."

The "Community of the Year" award is judged on product design, marketing, and overall sales success, and the NAHB received more than 1400 submissions for the Nationals this year. Judging is conducted by a panel of industry experts in real estate sales, marketing, and project development.

About the Developer
Gemstone Development, the developer of ManhattanWest, is one of the most prolific condominium developers in Las Vegas. Gemstone's previous project, Manhattan Condominiums, was the first new mid-rise condominium to be built in Las Vegas since 2002, and at $230 million dollars is one of the largest mid-rise projects in Las Vegas. Manhattan Condominiums sold out its initial 700 units, and recently has finished construction on its last building. Gemstone delivers unique, state-of-the-art features such as its ManhattanTransfer® errand service and ManhattanMD® medical services. Gemstone Development was founded by Alexander Edelstein in 2003. ManhattanWest can be viewed on the web at ManhattanWest.com. Gemstone can be reached on the web at: GemstoneDev.com.

Contact:
Mark Chatow
Gemstone Development, LLC
702.614.3193
markc@gemstonedev.com
www.gemstonedev.com

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