April 1, 2004
Gemstone Development to Bring Urban Living to Las Vegas
Manhattan Condominiums Will Deliver Affordable Luxury Living South of the Strip

(Las Vegas) – Gemstone Development has announced the opening of its preview sales center for Manhattan Condominiums and that reservations began being accepted April 5 by appointment only. Appointments are available only to people who have registered through the Web site at www.Manhattanlv.com or through the phone line 893.2663.

"This project is one-of-a-kind to the Las Vegas market," said Alexander Edelstein, chief executive officer of Gemstone Development. "We're looking forward to bringing prospective buyers to our presentation and giving them a chance to select their dream home."

Manhattan Condominiums brings urban convenience, luxury and style to Las Vegas Boulevard, but delivers it at a surprisingly affordable price point. Manhattan's unique luxuries include an expansive and elegantly landscaped Central Park, a multi-million dollar clubhouse, full-service concierges, a high-tech screening room with DVD library, and rich wireless Internet connectivity. "One of our design mantras is ‘Oasis and Access'," said Philippe Pageau-Goyette, principal and developer of Gemstone. "Sitting in our Central Park, guests of our residents will never guess that they're just a few minutes from the Airport and the center of the Strip."

The feel and flavor of central New York City is reflected throughout the Manhattan community. "The classic Art Deco buildings mix with the contemporary clubhouse and the landscaped parks to create something truly distinctive," said Richard Lee, director of public relations of First American Title. "In my role as Las Vegas booster, I am constantly referring to the ‘Manhattanization' of Las Vegas in the form of higher-density, urban residences, and the Manhattan Condominiums are an excellent case in point."

Manhattan is situated at the corner of Las Vegas Boulevard and Serene, with extremely efficient access to I-15 and the 215 Beltway, making it an ideal location for Strip and downtown employees, vacationing visitors and young professionals. "We're an inexpensive taxi ride from the Strip and on the ‘other side' of typical commuter traffic," said Edelstein. "These condominiums really represent a step up in quality of life."

Ranging in price from $149,000 to more than $400,000, Manhattan Condominiums will offer a choice of one-, two- and three-bedroom units, along with spacious penthouse lofts. The floor plans range in size from 900 to 1800 square feet.

Luxuries like granite countertops, natural wood cabinetry, and large walk-in closets are standard, and a rich selection of affordable upgrades allows pre-construction buyers the opportunity to customize their residences.

"Building condominiums, we're able to deliver higher luxury at a lower cost, because of our economies of scale," said Pageau-Goyette. "We also expect Manhattan to have a much richer sense of community and social activity than typical detached tract houses."

Manhattan's distinctive Internet services mark it as unique in Las Vegas. "This is the first wireless condominium community," said Edelstein. "Providing efficient Internet access fits our urban vision of making it easier for residents to manage their time. Whether sitting on the grass in one of Central Park's meadows, or hanging out by the pool, residents will be connected."

Residents of Manhattan Condominiums will enjoy membership in their own private Manhattan Club, which includes a spacious lounge, a large swimming pool, and a screening room where they can check out DVDs and host private showings. The club will also contain extensive fitness facilities as well as a richly-equipped business center, which residents can use for faxing, copying, printing, and Internet access. The fitness and health center includes all of the latest equipment, a co-ed sauna and steam room, and aerobics studio. Outside, a basketball court is available for residents, along with a lighted swimming pool, spa and tennis courts, to accommodate nighttime use.

Sales for the Manhattan Condominiums will be done only by appointment. To register for an appointment, interested individuals can register on the web at www.manhattanlv.com or by calling the registration line at 702.893.2663.

Gemstone Development develops real estate in Nevada and California and is the developer of the Manhattan Condominiums, one of the most anticipated projects in Las Vegas. Gemstone was founded by Alexander Edelstein and Philippe Pageau-Goyette, and is committed to creating stylish, tasteful housing, which raises the average wherever it is built. For more company information, visit the Gemstone Development website at www.gemstonedev.com.

Contact:
Holly Lobelson
Impress Communications
702.367-7771


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