Longing For The Vegas of Yester-Year
Many Las Vegas condo developers feel the need to tear down older hotels to make way for the new sparkling luxury resorts.
However, the investors who are purchasing the Riviera are doing quite the opposite. These Las Vegas developers say that they see a niche in the market for nostalgia of the Las Vegas of decades ago.
The Investors, which is a geographically diverse group of experienced real estate investors including Brett Torino, Barry Sternlicht and Neil Bluhm.
They say that they aren’t going to tear down older condos to rebuild; they will leave the older structure and spend millions on improvements.
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