So if anyone's wondering - I came across some hard facts on the hotel/condo room split, and square footage of the common areas in the Cosmopolitan Las Vegas.
Courtesy of GlobeSt.com and VegasTodayandTomorrow.com.
- 3,000 total rooms; of that: 2,000 are condo-hotel rooms & 1,000 are straight up hotel rooms
- 641,850 square feet of back-of-house area
- 522,934 square feet of public area; of that:
- More than 150,000 square feet of convention and meeting space
- A 75,000-square-foot casino
- 300,000 square feet of retail, restaurant, and entertainment space
- An 1,800-seat theater
- Only 3,420 parking spaces - due to the 30% waiver from the required 5,029 spaces the zoning regulations call for
- 1,800 condo units are under contract as of present time (January, 2009)
Total Development Cost: $3.9 billion
Amount Foreclosed Upon By Deutsche Bank: $760 million
Amount Deutsche Bank Purchased Cosmo For From Foreclosure: around $1billion
Current Owner: Nevada Property One, LLC (an affiliate of Deutsche Bank)
andrew@alconic-inc.com
Andrew Calvo is a 26 year old Commercial Real Estate Advisor in New Jersey. I live in Tinton Falls, NJ. This blog is about my passions - primarily hotels, commercial real estate, and development, etc.
Since I have been in High School Ifve had numerous jobs, but the field which has always interested me is Real Estate, Hotel Development and Construction. I consider myself a zealot in that area - I try to absorb as much as I possibly can, take the experiences that I learn, or read about and use them in my life.
www.passionsofazealot.com/2009/01/10/cosmopolitan-las-vegas-facts