Vegas Grand Bella Venezia
Las Vegas, Nevada
Sales & Marketing: Del American
Construction Lender: Lehman Brothers
Construction Loan: $78,000,000
Investor: Lehman Brothers
Sale Value: $95,400,000
Vegas Grand Bella Venezia is located off the Las Vegas Strip at 818 E. Flamingo Rd. in Las Vegas, Nevada. Del American developed the property as condominiums using credit enhanced conventional financing. The property was built in two 3 and 4 story wrap courtyard buildings with structured parking. The community features an Italian architectural style and 11 unique floor plans, 1 to 3 bedrooms, ranging from 660 sf to 2130 sf, averaging 1450 sf. Finishes included stainless steel appliances, 9-10' ceilings, granite tops, etc. Amenities included a 5000 sf club house space, fitness center, luxury roof top pool with cabanas , 24/7 Guarded Entry, roof top tennis courts , and alfresco cafe. The units were priced from $250k to over $650k. The market softened in 2007 and the for sale condos seamlessly transitioned into rentals.