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Speaking at the CCIM Conference in Las Vegas on April 25th, Alex Edelstein, Gemstone Development CEO and developer of the new ManhattanWest condominium project located in southwest Las Vegas, surprised the crowd of real estate professionals by issuing a direct challenge to fellow developer Ken Smith of Sullivan Square. "We've both broken ground on our respective projects, and we're both digging away to get ready to pour our foundations. I think that the best way to draw attention to our activity in the Southwest is with a challenge. I bet Ken that ManhattanWest will pour foundation first. I realize they have four months of blasting to complete, so I will give them a head-start and still finish a month ahead. If we don't win, I'll donate $1000 to his favorite charity," grinned ManhattanWest developer Alex Edelstein. "I'm so confident in my team that I'll even let him keep his two-week head start, even though I'm digging five buildings out to his one". Having just been released for sale one week ago, ManhattanWest has already sold more than 95 condominiums in what is supposed to be a bad market. "We're off to a torrid start. I think that some of that is due to our innovative amenities and our six acres of open space, but I also think that the sophisticated Las Vegas buying market is responding to our pricing, which at roughly $300 per square foot is from 25% to 50% less than our competition." The idea of a challenge came to Edelstein as a way to showcase the confidence he has his project. "This market has seen more than its share of false promises and false starts," he explains. "I want the buyers to know I'm ready to deliver or I'll put my money where my mouth is. I'm very results oriented," explains Edelstein. "People need homes, and it's our job as developers to build them something that they actually want and need. ManhattanWest was created to be a step-ahead of the curve-I believe it is represents the next home/buying cycle right now by moving beyond the ordinary." Official Groundbreaking Ceremony scheduled for May 22, 2007. ManhattanWest's Sales Center: 702-893-2663. 9121 W Russell Rd., Suite 116, Las Vegas, NV 89148 (just west of I-215 at Russell Road). About the DeveloperGemstone Development, the developer of ManhattanWest, is one of the most prolific condominium developers in Las Vegas. Gemstone's previous project, Manhattan Condominiums, is the first new mid-rise condominium to be built in Las Vegas since 2002, and at $230 million dollars is one of the largest projects in Las Vegas. Manhattan Condominiums sold out its initial 700 units, and will complete the final of four phases in the summer of 2007. 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. Contact: |
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