Does anyone here live in one of these condos or used to live in one of those condos in vegas? I saw a thread about this in a subforum here and someone mentioned how the HOA fees are ridiculous... like its basically rent prices or even more. Such as you could rent a 1 or 2 bedroom place in vegas for 900-1300... is that the rent price avg in vegas these days? but these high rises... the HOA fees are around at price or even higher?



What surprised me at first was how some of these high rises, the prices didn't seem so bad for a studio or 1 bedroom or even 2 bedroom. Like a 250k high rise but then... you read about those HOA fees which are basically rent prices. So not only do you have that pay that price for the high rise or as most ppl pay a down payment and pay a mortgage, you gotta pay the HOA fee which is basically rent price.



Does anyone here live in these places and can offer their experience/opinion? My first thought was these are so nice because its a luxury hotel with security and everything... and you live there as a high rise which seem pretty sweet. I remember people said Vdara is very nice because its right next to Aria. I remember many years ago when poker was popular, they had those poker cribs where you see guys like Antonio Esfandiari and Andrew Robl show their cribs and it was one of these nice high rises. Obviously, Antonio doesn't live there now since he has a family and kids. But it seem like if you are a single guy or even older single guy, these seem to be pretty nice?

Also someone said if you wanted one as an investment property, basically buy it and rent it at... you break even at best ... is that true? I saw on airbnb, lot of these places seem to rent these high rise condos at vdara, mgm signature etc. So that is allowed or not? Because when i look at the prices for these, i thought... if you want to stay a few days or a week or even longer in vegas... seem nicer to rent this as oppose to hotel which would cost you more... especially if you stay at say aria/bellagio.


In terms of location and everything, is Vdara number 1? What about panorama towers? I remember years ago when poker was popular, seem like tons of players lived there? But the last few years, im guessing very few if any live there anymore? I always thought years ago... that would be the ideal place for a online player to live in one of those places... you could play online... or just walk 5-10 minutes and you are at bellagio etc right?



I also notice there are many other high rises like allure and other condos. But some seem to be in bad location? I think someone mentioned Allure is right across circus circus casino and that area is very shady and bad. If thats the case, why would anyone rent a high rise in those places? Also, is it hard to rent place like these short term? Example like 3-6 months or even shorter?



Because if you come to vegas and don't want to rent an apartment, its like you have to rent a room in someone's place... or rent an extended stay place which seems like majority are not safe right? I remember years ago ppl said Holiday Royale was decent... but its still at least 1300/month it seem minimum right? I saw some videos and even those budget suite monthly seem to cost at least 1200/month now?



The other high rise condos i hear of are mgm signature, palms and I think meredian? Im curious about these as I thought it would be nice to rent a place like that short term but obviously prices are going to be pretty high right?

this guy is pretty good...



personally, I can't live like that. I like to keep grounded.

Kind of funny that the ad I got was for a grammar checker when the video title is "Real Estate Talk Wednesday's." LOL! Unless this is Wednesday's talk and it's not every Wednesday

Watched a bit of that video and it does give good info.



But for these HOA fees, they typically are not more than $1000 max right? I looked at palms place and checked the cheaper studios i see online for sale, seems like HOA fee is around $550. That doesn't seem that bad but thats still like a bit of rent. But if you buy a house and pay everything in cash, well you still have property taxes to pay. But I see some 1 bedroom 1 bathroom high rise condos where the HOA fee isn't that much more... like $630 or so.



But in all these units, obviously electricity is not included right? I did saw one ad where it advertised not only an HOA fee... but taxes? But then i saw electricity is covered... certainly that is a mistake? Can't imagine electricity being covered since someone could have it on all day right with the vegas heat?



But beside these HOA fees, and electricity, what other fees are there? I mean, I did see many seem to include cable and internet... so they include cable tv and internet? If so, thats pretty nice. I would be curious to hear from someone here who lives at a current high rise or had lived in one.



I mean if you had the money to buy a high rise condo and pay cash for everything without borrowing... whether its a 250k condo or 400k condo or 750k condo... let say just for the 250k condo... 550 dollar HOA doesn't seem that bad right? And like $650 for the 400k condo doesn't seem that bad either right? Because if you buy a house whethers its that price or more, you going to pay few hundred in property taxes at least no matter what... so isn't these HOA fees really not that bad? They talked about in the video how security is like top notch in these places so its like if you have lot of cash or chips or valuables, well its pretty safe then keeping it in your unit then right?

Ask Antonio about that...

Several years ago I stayed a few nights with a friend that owns a Panorama Tower condo on a high floor 2/2 and he said HOA was $2300/mo, pretty insane.


What You Pay, and What You Get, In Nine Las Vegas High-Rise Buildings

Property Neighborhood HOA Fees Amenities

Newport Lofts Downtown $490-$952 Roof deck with pool, hot tub and running track; clubhouse; gym

Soho Lofts Downtown $585-$940 Roof deck with pool and hot tub; gym; sauna; lounge

The Ogden Downtown $361-$879 Roof deck with pool and outdoor kitchen; concierge; lounge; dog park; electric charging stations

One Las Vegas South Strip $361-$879 Pool with hot tub, cabanas and outdoor kitchen; gym; saunas; business center; library; tennis courts; dog park; electric car charging stations

Panorama Towers Off-Strip $450-$3,132 Pool; hot tub; gym; concierge; car service; racquetball court; yoga classes; theater; valet parking; coffee service

Palms Place Off-Strip $554-$1,098 Pool; hot tub; sauna; resort-style spa with Turkish bath; gym; Pilates studio; yoga classes; tanning salon; valet; concierge; room service

Turnberry Towers Off-Strip $542-$934 Pool; hot tub; barbecue area; tennis courts; putting green; gym; valet parking; computer center; conference room

Veer Towers Strip $498-$2,400 Rooftop infinity pool; gym; media room; valet parking; concierge

One Queensridge Place Northwest $1,957-$2,072 Saltwater pool; fitness center; Pilates room; private dining room; wine cellar; individual garages; concierge; Continental breakfast; guest casitas

https://www.reviewjournal.com/homes/...r-a-high-rise/
Article dated February 14, 2016, so might be even higher now.

Didn't he get robbed by someone he knew?

Some of those are really absurd, and would cover the payment on a luxury house in a gated community with a pool, and you build equity to boot. I'll never understand why someone would live in a highrise when they didn't have to.

I live in a gated condo with great security and its $350/mo HOA, Not a high rise. But I like it. once you get up to 1k and higher it gets pretty silly.

HOA fees are priced per square foot. If it’s a dollar per sqft and your place is 1500 sqft, you’re stuck paying $1500/month forever that is just money down the drain and adds zero equity. You can never get rid of them, they can go up, and you’re responsible for any assessments on the building. Owners got totally screwed in the market crash when they had to pick up the slack since all of the foreclosed/delinquent properties weren’t paying their share.

Getting financing for a high rise condo is also a totally different ballgame. Most banks wouldn’t loan for high rise properties at all when I moved to Vegas in 2012. I’d never want to own a high rise condo.

I will second or Chakits. Good dude does solid work

https://www.youtube.com/watch?v=7wzwTwEauBk

I didn't know that HOA fees were priced per square foot. But that makes a ton of sense. If that is the case, isn't it mainly for people with a lot of money that can only afford these units then?


So wouldn't that mean there are tons of people who bought these units and are trying to sell and get rid of them or somehow rent to someone and recoup the monthly HOA fees? Because if someone spent most of their money paying for one of these, and don't have much money... don't they need to immediately look for someone to sell it to even if taking a huge loss?


Also, would it be easy then to rent a studio from an owner short term like 1-3 months like airbnb if someone wants to stay in vegas for a short term? Thus not rent from the agency but directly from the owner? I wonder how much someone could rent a place short term for from an owner for one of these units? Could someone rent a studio at one of these places for $1500/month or less? The thing is when extended stay places doesn't seem to be that much below that much... wouldn't it make sense if someone who rent short term in terms to rent in a place like this if an extended stay place monthly still cost 1200 or so? Because if some owners just want to rent it out to pay the HOA fees, wouldn't renting it out for say $1500 be very good deal for them if they were trying to sell the unit or rent it otu?

I remember years ago I was thinking of getting one of those for a month or 2 while I looked for something else. This guy on CL had several 1 bedrooms at Palms Place high floors and like $1800-$2000 a month. Looked awesome. Might have been some kind of scam not sure. But that was MTM price and he hoped for 3 months min.

That seems reasonable to me. I paid not that much more for a 1BR at MGM Signature in the past.

Are HOA fees based on sft only in LV? I know other places where your floor is a significant factor because elevators get exponentially more expensive with every added floor.

From google:
"Are HOA fees based on square footage?
After the budget is put together, the expenses are divided among all those who own property in the community. The percentage is often calculated based on the total square footage owned. This means that those who own larger units will usually be paying more in assessments."

"How much your HOA fees will cost is based on the square footage of your condo, whether you live in a high-amenity or low-amenity building, and other factors. Typically, higher-service condos include higher HOA fees because they need to cover more staff and amenities."

So square footage has something to do with it but there are many other factors.

I have always been interested in the high-rise, downtown-living lifestyle. Whether in Vegas, Fort Worth, Gulf Coast or wherever, the finances will never make sense. HOA, property taxes, and insurance is all money that is set on fire each month. Even if you pay cash and have no mortgage, you still have a hefty monthly nut to cover.

I reckon I'll always be a country boy on the outskirts of the suburbs.

How much typically are the property taxes for each unit? I saw some that said $2000 and some that did not mention anything.



I would be curious if anyone here who lived in one of these high rises, whether its veer, panorama or whichever which could tell how much they pay in monthly/yearly fees just to own it.



I mean, i see the $552 HOA fee for some of the smallest studio units at palms and veer but how much total in addition with property taxes and anything else added to it? Also, electricity is never included right? But I notice some of these places seem to say cable tv and even internet might be?

Before COVID, there where several cities where downtown high rise condos went through the roof over the last couple of years. Probably because of the influx of hipster young professionals.

In downtown Kansas City, Missouri several luxury mid-rises and high-rises opened over the last couple of years and a couple others are still under construction. A friend of mine bought a 1BR condo for $130k in 2014. It’s estimated at roughly $250k right now. But with many people now wanting to move to the suburbs thanks to remote working, that trend might flip very soon.

Sorry if that sounds condescending, but if you’re worried about cost of electricity you probably shouldn’t look into buying a luxury high rise condo right now.

No idea about LV but when I lived in Berlin the monthly cost for elevator maintenance was actually higher than my electricity bill.

1. Location
2. You are building equity in a condo
3. You dont want to deal with maintenance
4. The views

It's not for everyone, or even most people. But there is a market for them obviously.

Never been to Berlin, but I'm guessing it's not 115 degrees in the summer with lots of south-facing glass on the walls.

I was talking about just the HOA cost. With a $2k HOA you're not building equity in anything.

Even if HOA was zero I don't want to live in a highrise. People above you, people below you, people on either side, people catty-corner, and they all make noise.

Hey, yea I know the electric cost if you look at it shouldn't be looked at when looking to buy a luxury high rise condo... but that obviously isn't included though right? That literally wouldn't make sense since if you have ac on all day... im guessing thats another 300 dollars at least in electric?


And i saw some places that say free cable tv and some even internet. I dont care about tv but anyone that pays for cable tv, thats probably another 100 you put in there right in vegas? Heard cox is the provider for most. And if internet is included, thats another 50-80 dollars.


My thought was if someone had the money to pay for everything without borrowing... say one of the cheaper high rise condos that cost 250k that is just a studio and the HOA fee is $552 a month, what other costs are there? Someone mentioned taxes.. so on average how much a year for that and how much for insurance since someone mentioned that? Because wouldn't property tax be another a few thousand at least? I did saw one high rise condo mention 1800 and another 2200 in property taxes... so looking at 200/month approximately? Then insurance is for what.. flood insurance? How much would that be a month? Because if you add it up for that condo that cost 250k with a HOA fee of $552 a month, property taxes is $200/month? Then insurance would be another $150? Then it would cost about $850/month in total regardless? Is that the right number approximately? Because had it just been the HOA fee of $552... and you had 250k to buy the whole thing and just pay that fee and electric/internet... that doesn't seem that bad.

I think any young guy with no wife or kids would definitely prefer the high rise life style. I mean years ago, those poker cribs showed like antonio esfandiari and andrew robl living in these high rises and i recall robl said like, if i dont want to play online, i just go downstairs or next door to play live poker at bellagio etc. Now if you are an online player, that would seem like the perfect place to live if you could afford it.


Also i believe Jean Robert Bellande still lives in a high rise right? Recalled watching a very old cribs and then a new crib and he still living in a high rise condo.


If HOA was zero, wouldn't it make sense almost everyone would want to live there? Someone I recall mentioned HOA fees was to keep away the ppl they don't want... like those that aren't bothered by the money with the HOA fees to live there. The big issue is these HOA are getting close to rent prices or above it etc. In that youtube video, the guy mentioned he knew a guy who had a 10k monthly HOA and didn't care since he was obviously very wealthy. But i mean for ppl who aren't wealthy but want to live in a place like that, I'm curious how many ppl actually do that. Like I remember even Jeff Gross did a vlog a while back in vegas and showed his place a bit and you could tell it was a high rise condo with how it looks. And Tony Dunst not long ago vlogged and you see its definitely a high rise.

Agreed completely but I've lived in houses my whole life. Plus it's not like NYC or downtown Chicago or LA or something where it's the only option. You can live in a house minutes away from the Strip.

Pauly, even with zero HOA fees why would the average Joe want to live in a strip high rise? You realize most people that live here don't work or spend any time there by choice, right? A high stakes pro poker player, sure. It makes no sense for the vast majority of people.

What is the point of this thread? Are you planning on moving here? Looking for a second home while visiting? That distinction makes a huge difference.