
July 24, 2007
Manhattan Condominiums Celebrates 1st Anniversary Zero Foreclosures in the First 525 Closings
Gemstone Development's 700 residence Manhattan Condominium community recently marked the one year anniversary of its first certificate of occupancy. Of the 525 residences that have closed escrow at Manhattan, not one has gone into foreclosure.
"The lack of foreclosures at Manhattan is a testament to the success and stability of the community, and the fact that we delivered what we promised," said Gemstone Development CEO Alex Edelestein, "We are pleased to see the vision we created back in 2003 become a reality, and we are proud to have delivered all of the features, amenities and sense of community we promised residents when they first purchased their homes."
A year after its first residents starting moving in, Manhattan Condominiums is a thriving community. Its pool, clubhouse, fitness center, basketball, and tennis courts are complete, and residents enjoy a rich social life centered around the property's barbeque pavilion, fire pit and grassy Central Park.
The power of the community to bring people together is summed up best by one of its earliest residents who said, "I've met more people at Manhattan in the past six months than I met in Las Vegas the first six years I lived here."
About the Developer
Gemstone Development, is one of the most prolific condominium developers in Las Vegas. Manhattan Condominiums is the first new mid-rise condominium to be built in Las Vegas since 2002, and at $230 million dollars was 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's newest community is ManhattanWest, a 700 residence mixed-use development located at the 215 Beltway and Russell Road. 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.
For additional information contact:
Mark Chatow
Vice President, Marketing
Gemstone Development, LLC
702-614-3193
markc@gemstonedev.com
www.gemstonedev.com
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